Two Tenant | NNN | Trophy Location Tampa, FL
Two Tenant | Strong Guarantees | NNN | Trophy Location Tampa, FL
Marketing description
South Cedar Real Estate is pleased to present the sale of a newly repositioned NNN retail asset located at 418 N. Dale Mabry Highway in Tampa, Florida. This property has recently undergone a comprehensive exterior and site transformation, creating a modernized retail investment positioned for long-term performance along one of Tampa's most heavily traveled corridors, benefiting from traffic counts exceeding 55,000 vehicles per day.
Recent capital improvements include a complete facade renovation, new roof installation, stucco restoration, new awnings, upgraded landscaping, an updated monument sign with LED lighting, and the repaving of both parking lots. Additional site enhancements include the creation of new parking spaces within the right-of-way and the installation of a concrete slab over the existing retention pond, significantly improving the functionality and usability of the property.
The asset is currently occupied by two tenants, Divers Direct and Encore Imaging, both operating under NNN lease structures that provide stable in-place income with minimal landlord responsibilities. The recent renovations and tenant occupancy position the property as a stabilized, low-management investment opportunity within a highly visible and well-trafficked retail corridor.
Strategically located along North Dale Mabry Highway, the property benefits from exceptional accessibility, strong surrounding demographics, and proximity to a dense concentration of retail, dining, and residential development. This offering presents investors with the opportunity to acquire a fully repositioned retail asset in one of Tampa's most established commercial corridors, with continued long-term upside and durable tenant demand.
Investment highlights
- Recently completed comprehensive exterior and site transformation
- Improvements include complete facade renovation, new roof installation, stucco restoration, installation of new awnings, full repaving of both parking lots
- Over $1 million of improvements to interior spaces
- Now occupied by two new tenants, Divers Direct and Encore Imaging, both operating under NNN lease structures, providing stable in-place income with minimal landlord responsibilities
- Situated on a full-access corner with exceptional visibility along North Dale Mabry Highway (±46,000 AADT)
- Features 106 feet of frontage and prominent pylon signage on North Dale Mabry Highway
- Convenient access, just 0.44 miles from I-275
- Other nearby retailers include REI, Whole Foods Market, Sephora, Shake Shack, Novel Midtown, Walk-On's Sports Bistreaux, WaWa, Carrabba's, First Citizens Bank
- Prime location near Midtown Tampa, with close proximity to Whole Foods Market, REI Co-op, Target, Walmart, Best Buy, Home Goods, and True Food Kitchen
- Population exceeds 300,000 residents within a 5-mile radius
- Average household income within a 5 mile radius runs $95,000-$110,000 - well above both Tampa's citywide median and national averages
- Surrounded by some of Tampa's most desirable neighborhoods, including Hyde Park, Palma Ceia, Beach Park, Sunset Park, and Virginia Park, all known for strong home values and long-term resident stability
- The adjacent Westshore Business District further bolsters the trade area with a substantial daytime population from nearby corporate campuses
- Encore Imaging is a private medical imaging company founded in 2021 in Fort Myers, Florida. Specializing in high-field MRI services for both personal injury and preventive health markets, the company has grown to 12 locations across Florida in just a few years, with offices in Tampa, Orlando, Sarasota, Naples, and West Palm Beach, among others
- Divers Direct is a private specialty scuba and watersports retailer founded in 1984 in Key Largo, Florida, giving the company over 40 years in business. From its origins as 'Divers Outlet,' the company has grown into one of Florida's largest dive retailers, with multiple brick-and-mortar locations across the state and a strong e-commerce presence, offering equipment, apparel, and SCUBA certification training
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