2 Locations

6008 & 6010 N Armenia Avenue is a ± 1.54-acre redevelopment site on a high-traffic arterial in north-central Tampa, minutes from Tampa International Airport and downtown. The site is offered for $1,300,000 with potential seller financing available. It is currently being annexed into the City of Tampa, which will place the entire property — both folios — under a single City of Tampa PD (Planned Development) with increased residential density.

What sets this opportunity apart is its entitlement position. The property has already cleared extensive due diligence with both the City of Tampa and Hillsborough County, and carries an approved site plan for 10,200 square feet of warehouse / flex space as a commercial fallback. With annexation unifying the site under City PD, the higher-density residential path becomes the primary, value-driving use while the approved warehouse preserves a shovel-ready commercial option for an owner-user.

Offering Memorandum analyzes three development strategies — industrial / flex, for-sale townhomes, and multifamily / build-to-rent — each modeled at the full $1.3M land basis. The analysis is candid: under the unified, higher-density PD, for-sale townhomes clear an attractive 15%+ developer margin and fully justify the asking price; the approved warehouse is best understood as commercial certainty plus an owner-user / small-bay-sale path; and ground-up rental improves but still trails the for-sale return. The result is an entitled City-PD infill site with a clear residential thesis and commercial optionality.