5609 Nebraska Ave Tampa, FL 33604

Property Details for 5609 Nebraska Ave

Year built

1935

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.26 lot acres

Property size

2,536 SF

Zone code

SH-CI

Property type

Turn key restaurants

APN

A3128194KE000002000012

APU

A3128194KE000002000012

Description

This exceptional mixed-use property in Tampa's vibrant East Seminole Heights offers a compelling investment opportunity with multiple income streams. The 5,336 square foot property sits on a 0.26-acre lot and boasts a diverse portfolio including a four-unit apartment building, a restaurant with a transferable 2COP liquor license, a large billboard, and a small storage building. The apartment building, featuring four renovated units (one 2-bedroom/1-bathroom unit of 740 sq ft, and three 1-bedroom/1-bathroom units ranging from 560 sq ft each), is currently fully rented. The adjacent garage/workshop is included in the existing restaurant lease. The free-standing restaurant building is also under lease to a Mexican restaurant, with a remaining four-year lease term and a five-year option. A significant advantage is the property's CI zoning, allowing for a wide range of potential uses. Recent capital improvements include a brand-new waterline and meter for the apartment building, a new roof, and new perimeter fencing. The property generates a gross annual income of $95,903.40, resulting in a net operating income of approximately $74,445, representing a roughly 8% capitalization rate. The billboard operates under a separate land lease agreement. This turnkey investment presents a rare opportunity to acquire a well-maintained, high-income-producing property in a rapidly developing area. No owner financing is available.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Longitude

-82.4509

Latitude

27.9986

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments