2915 Dl Mabry Hwy, Tampa, FL 33607-2414
- Super regional malls
- 109,683 SF
- 11.57 lot acres
Current Use by Public Records
- Tampa Plaza Shopping Center / Shopping Center & Mall
- Ashley Store / Furniture & Home Goods
- GAB Pressure Washing / Landscaping / General Contractor
- Jen Affordable Insurance Quotes / Marketing & Advertising
Property Details for 2915 Dl Mabry Hwy
- Year built
- 1972
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 11.57 lot acres
- Zone code
- CI
- Property type
- Super regional malls
- Property subtype
- Shopping centers
- APN
- A162918ZZZ000005473300
- APU
- A162918ZZZ000005473300
Description
This exceptional investment opportunity presents the Tampa Bay Center, a 142,350 square foot shopping center boasting a 100% occupancy rate. Strategically located in Tampa's Westshore Business District at 2915 N Dale Mabry Hwy, 33607, this three-building, fee-simple property sits on 11.13 acres and offers 470 parking spaces. The center features eight tenants, including prominent national brands like Ashley Furniture, Floor & Decor, Dollar Tree, and The Tile Shop. Six of these tenants have occupied the space for six or more years, demonstrating strong commitment and stability. The weighted average lease term remaining is 3.5 years, ensuring a consistent cash flow. The property's Net Operating Income (NOI) is $2,323,044, resulting in a 6.50% cap rate at an asking price of $35,740,000 ($251.07 per square foot). The center benefits from its location on major thoroughfares with a combined Annual Average Daily Traffic (AADT) exceeding 90,000 vehicles, providing exceptional visibility and accessibility. The Westshore Business District, home to over 6,500 businesses and 100,000 employees, surrounds the property, ensuring a robust customer base. Nearby amenities include Tampa International Airport, International Plaza, Westshore Plaza, and Midtown Tampa. Within a one-mile radius, the average household income is $95,192, rising to $119,848 within three miles. This stabilized, triple-net (NNN) leased property, with credit-rated tenants, represents a rare opportunity to acquire a trophy asset in a highly desirable location. The property is further enhanced by a 5,697 square foot outparcel, offering additional investment potential.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $25,010,000
- 6.5%
- $23,085,000
- 7%
- $21,435,000
-
Alternative Use
- Use
- Estimation
- NEIGHBORHOOD: SHOPPING CENTER
- $28,535,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $40,235,000 Change: +41% Conversion: Difficult
- MEDICAL BUILDING
- $29,650,000 Change: +4% Conversion: Difficult
- RETAIL STORES
- $24,355,000 Change: -15% Conversion: Easy
- OFFICE BUILDING
- $24,260,000 Change: -15% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Tampa
- County
- Hillsborough
- State
- Florida
- Longitude
- -82.5034
- Latitude
- 27.9659
- CBSA code
- 45300
- CBSA name
- TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA
