701 Dl Mabry Hwy Tampa, FL 33609-1246

Property Details for 701 Dl Mabry Hwy

Year built

1992

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.69 lot acres

Property size

26,587 SF

Zone code

CI

Property type

Retail space

APN

A2129183LF000000001130

APU

A2129183LF000000001130

Description

This exceptional investment opportunity presents a 25,000-square-foot retail storefront in Tampa, Florida, currently leased to Rivian (NASDAQ: RIVN) under a 10-year net lease agreement commencing April 1, 2024, and expiring March 31, 2034. The property boasts a strong 6.75% cap rate and a substantial net operating income (NOI) of $965,000. Situated on a 2.75-acre lot with 100 parking spaces, the property benefits from a highly visible location on Dale Mabry Highway, less than half a mile from Interstate 275. The building, constructed in 1992 and extensively renovated in 2023, features a single story and is zoned C1. The lease includes a corporate guarantee and attractive 3% annual rent bumps, extending through two optional five-year renewal periods. The property is part of a thriving retail corridor, near major retailers such as Walmart, Target, Home Depot, Whole Foods, REI, Best Buy, and Nordstrom Rack. This location is also adjacent to Midtown Tampa, a significant mixed-use development encompassing 1.8 million square feet of retail, hotel, luxury apartments, and office space. The property's prime location within a high-traffic area (approximately 50,000 vehicles per day) and affluent demographic (average household income exceeding $110,000 within a three-mile radius) ensures strong long-term investment potential. The property's parcel number is A2129183LF000000001130. The asking price is $14,295,000, representing a price per square foot of $571.80.

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Longitude

-82.5048

Latitude

27.9507

CBSA code

45300

CBSA name

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

Property Tax & Assessments