Shoppes of Armenia
Retail | 5.21% CAP
Marketing description
roperty Description
Franklin Street is pleased to present the Shoppes of Armenia, located in Tampa, Florida. The property totals 11,407 SF and is 100% leased by an excellent mix of local tenants. On the second floor there are four apartment units. Some tenants are month-to-month, while others have signed modified gross lease's with an initial term between 1-5 years with options and escalations. The main building was originally constructed in 1956 and in 1964 an additional 4,800 rentable square feet was added to the property which included 4 apartment units.
Location Description
The Shoppes of Armenia are strategically located along North Armenia Avenue, a major north–south thoroughfare in Tampa that provides consistent traffic flow and excellent visibility for retail tenants. Positioned just minutes from downtown Tampa, the property benefits from strong connectivity to the surrounding neighborhoods, commercial corridors, and employment centers. The surrounding area features a balanced mix of residential communities, small businesses, and service-oriented retailers, creating a stable customer base and continuous local demand.
This location also offers convenient access to major transportation routes, enhancing accessibility for both customers and tenants. With nearby arterial roads feeding into key Tampa districts, the Shoppes of Armenia are well situated to capture consumer activity from a wide geographic area. The property’s placement in a densely populated and steadily developing part of the city supports long-term growth potential, making it an appealing opportunity for value-add retail investment.
Investment highlights
- Mixed use property totaling 11,447 sf - includes 9,427 sf of retail on the ground floor plus 4 apartment units on the second floor
- Fully leased by a strong mix of tenants that serve the local community
- Excellent visibility with over 250 feet of frontage along n. armenia ave (24,500 vpd)
- Dense customer base with over 300,000 residents within 5 miles of the property
- At a hard corner with multiple access points including three on n. armenia and one on w. minnehaha st.
- Strong historical occupancy
- Close proximity to bravo supermarkets (0.3mi), publix (1.1mi), lowry park zoo (1.5mi), neighborhood walmart (2.1mi), walmart supercenter (2.8mi), raymond james stadium (3.8mi), hillsborough community college (3.9mi), international mall (5mi), westshore mall (6mi), tampa international airport (6mi), and the university of south florida (6.8mi).
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