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32752413
32752414

11602 North 51st Street, Tampa, FL 33617

SK
FL SL3588576
Marcus & Millichap | The Patel Yozwiak Group
DP
OH SAL.2012000748
Marcus & Millichap | The Patel Yozwiak Group
DY
OH SAL.2008003600
Marcus & Millichap | The Patel Yozwiak Group
Listed by Marcus & Millichap | The Patel Yozwiak Group
$2,400,000
17 days on market
Updated 17 days ago

TWO-TENANT MEDICAL/PROFESSIONAL OFFICE

Details
Property Type Office
Sub Type Traditional Office, Medical Office
Square Footage 13,523
Units 40
Cap Rate 9.4%
NOI $225,587
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Expiration 05/31/2031
Class B
Year Built 1979
Year Renovated 1990
Buildings 1
Acreage 0.870
Parking Spaces spaces
Lease Commencement 06/01/2026

100% OCCUPIED | PROXIMITY TO USF CAMPUS AND I-75

Investment highlights

INVESTMENT HIGHLIGHTS:

• 13,523-SF, Two-Tenant Medical/Office Building

• Recent Improvements Include: Exterior Painted in 2023, HVAC Replaced in 2020 - Serviced Quarterly, Interior Renovations 2018-2019 and Parking Lot Repaved in 2019

• Building Features Cat 6 Cables Pre-Wired for High-Speed Internet

• 100% Occupied by Two Tenants

• Large, Landscaped and Lighted Parking Lot With 40 Parking Spaces | Both Tenant Spaces are Handicapped Accessible

• +/-0.87 Acre Lot With Two Points of Ingress/Egress Onto N 51st St and Access From Both Traffic Directions

LOCATION HIGHLIGHTS:

• Strategically Positioned Near Temple Terrace, a Growing Tampa Suburb Road and Under 10 Minutes From Both I-75 and I-275 Into Downtown Tampa

• Adjacent to University of South Florida Campus, a Major Public University With Over 50,000 Students

• USF Recently Announced a Major Mixed-Use Development Project Along Fletcher Avenue, With 495K SF of Student and Multifamily Housing, a 78K SF Hotel and Conference Center and 60K of Retail Space in Addition to a 350K SF Academic Building Expanding the Campus Footprint

• Just Off of E Fowler Ave, a High Traffic Corridor With 73,000 Vehicles Per Day, and N 56th Street, Seeing 36,000 VPD

• Development in Area Includes Neighboring Parcel Being Developed for New Self Storage Facility

• Located Within a Dense Medical Office Corridor, 2 Miles From Moffitt McKinley Hospital Campus

• 3 Miles From Busch Gardens Tampa Bay, With Over 4 Million Annual Visitors

• Trending Demographics: Population Exceeds 251,000 Within 5-Miles of the Property and is Expected to Increase by 2029 | Daytime Population Of Over 312,900 Within 5-Miles

• Temple Terrace is A Quickly Growing Tampa Suburb Seeing a 9% Population Growth From 2010 to 2020 and is Expected to Grow Another 29% by 2050

Listing Contacts

SK
FL SL3588576
Marcus & Millichap | The Patel Yozwiak Group
DP
OH SAL.2012000748
Marcus & Millichap | The Patel Yozwiak Group
DY
OH SAL.2008003600
Marcus & Millichap | The Patel Yozwiak Group
Listed by Marcus & Millichap | The Patel Yozwiak Group

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$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$225,587.00
$18,798.92/mo

Valuation Metrics

0
DSCR
9.4%
Cap Rate
9.4%
ROI

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Additional Information

Name
Ryan Nee
License
Lic #: BK3154667
Title
Broker of Record
Name
Samantha Kelley
License
SL3588576
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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