1610 State Rd 60 Valrico, FL 33594

Property Details for 1610 State Rd 60

Lot size

2.98 lot acres

Property type

Commercial real estate

Description

This exceptional 2.98-acre commercial land parcel presents a compelling redevelopment opportunity in Valrico, Florida, within the Tampa MSA. Currently zoned CG, with a future land use designation of R-9 (refer to page 4 of the offering memorandum for details), this property boasts significant income potential. The site generates substantial annual income, approximately $246,000, from existing mobile home park occupants. Strategically located on State Road 60, the property enjoys 122 feet of direct frontage, providing exposure to a daily traffic count of 63,000 vehicles. Its prime location within a dense retail corridor places it in close proximity to major national retailers including Home Depot, Walmart, Lowe's, Publix, Aldi, Chick-fil-A, and more. The bustling Westfield Brandon Shopping Mall and Interstate 75 are conveniently located just four miles west. Furthermore, this property benefits from its proximity to Downtown Tampa (22-minute drive) and Tampa International Airport (35-minute drive). The surrounding area boasts a population of nearly 200,000 within a five-mile radius. The asking price is $1,900,000, representing a land value of $637,583 per acre, with a pro-forma NOI of $150,465 and a pro-forma cap rate of 7.92%. This is an exceptional opportunity to capitalize on the strong demographics and high-traffic location of this prime commercial property in a tax-free state. The property's current income stream provides a significant advantage for potential investors.

Location Insight

City

Valrico

County

Hillsborough

State

Florida

Longitude

-82.25970253821

Latitude

27.937923801948