1797 Hillsborough Ave Tampa, FL 33603
- Office buildings
- 1,632 SF
- 0.87 lot acres
Current Use by Public Records
- Nationwide Interlock / Safety Equipment Supplier
- Performance Autoworks Inc. / Used Car Dealer
- Starbucks / Coffee Shop
- Nationwide Ignition Interlock / Safety Equipment Supplier
Property Details for 1797 Hillsborough Ave
- Year built
- 1947
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.87 lot acres
- Property size
- 1,632 SF
- Zone code
- CI
- Property type
- Office buildings
- APN
- A3528183H0000009000200
- APU
- A3528183H0000009000200
Description
This exceptional investment opportunity presents a brand-new, 2,503 square foot Starbucks located at 1797 W Hillsborough Ave, Tampa, FL 33603. The property boasts a 10-year net lease with six 5-year renewal options, featuring a corporate guarantee from Starbucks Corporation. The lease includes a 10% rental increase every five years, providing inflation protection and significant NOI growth. Built in 2024, this single-story building sits on a high-traffic thoroughfare with an AADT of 54,500 vehicles. The property benefits from strong demographics, including a population of 14,423 and an average household income of $82,411 within a one-mile radius. The asking price is $4,000,000, yielding a 5.25% cap rate and a current NOI of $210,000. The property is zoned CI - Commercial Intensive, and the landlord responsibilities are limited to roof, structure, parking lot paving, and utility systems. The tenant is responsible for all other maintenance and expenses, including taxes and insurance. This is a low-maintenance, high-return investment in a prime Tampa location, offering significant long-term value and stability. The property's proximity to Tampa International Airport and major roadways further enhances its appeal. This is a rare opportunity to acquire a newly constructed, high-performing asset with a blue-chip tenant in a thriving market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $980,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $935,000
- 6.5%
- $985,000
- 7%
- $985,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,045,000
- Geo Method
- $950,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $865,000
- Retail
- $1,065,000
- Mixed-Use
- $945,000
- Hospitality
- $975,000
- Educational
- $1,080,000
- Residential Income
- $1,095,000
- Energy
- $1,160,000
- Income-Based Land
- $835,000
- Food Service
- $1,035,000
Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.48
- Latitude
- 27.9964
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
