Current Use by Public Records
- Lifestyle centers
Property Details for 10250 Causeway Blvd
- Year built
- 2019
- Lot size
- 6.59 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A retail investment opportunity, Village at Causeway, presents a compelling case for investors seeking strong returns. Located at 10250 Causeway Blvd in Tampa, Florida, this 27,860 square foot, unanchored shopping center boasts a 100% occupancy rate and a robust 6.5% capitalization rate, generating a net operating income (NOI) of $898,166. Built in 2019 on a 6.59-acre lot, the property features a diverse mix of e-commerce resistant tenants, including popular local restaurants, service businesses, and an escape room. The average suite size is approximately 2,100 square feet, and the average rental rate is $33 per square foot, with a weighted average lease term (WALT) of 3 years and built-in annual rent increases. The property benefits from a high-traffic signalized intersection with three points of ingress/egress, excellent visibility, and proximity to other traffic generators such as a Hampton Inn Suites and RaceTrac. Its location at the entrance to a 450-unit apartment complex and across from 700 additional units ensures consistent foot traffic. The extremely low vacancy rate along Causeway Boulevard (1.50% according to CoStar) further underscores the property's desirability and potential for future growth through market rent increases or leasing to national tenants. This stabilized investment offers significant upside potential and a secure, high-performing asset in a thriving Tampa market. The property's strong fundamentals, combined with its desirable tenant mix, make it an ideal addition to any portfolio.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.3411
- Latitude
- 27.9237
