Map of Property

Armature Park

For Sale

7702 Rivergate Dr, Tampa, FL 33619

This Tampa property for sale is located at 7702 Rivergate Dr. Contact the listing broker for details on the current sale price for Armature Park. Armature Park is situated on a lot that is 8.75 acre in size.

Contacts

broker

Casey Babb

broker

Luis Baez

broker

Shawn Rupp

broker

Will Mathews

Property Details

  • Property Type Other
  • Lot Size 8.75 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 200
  • Year Built 1975
  • Date Updated Nov 23, 2024

Colliers is pleased to present Armature Park, a 116-unit community with proven value-add upside in fast-growing Tampa, FL. Only 10 minutes from the largest employers in downtown Tampa, the property converted from income-restricted to 100% market-rate in 2020. Current ownership renovated 113 units (97%) with modern Shaker cabinets, subway tile backsplash, hardwood-style floors, in-unit washers and dryers, stainless steel appliances, and granite countertops to achieve average premiums of $255/unit. The property was also recently infused with significant capital into new signage, roofs, exterior paint, landscaping, windows, and new amenities, allowing new ownership to concentrate on additional revenuegenerating improvements.

There are multiple ways to add value at Armature Park. In addition to renovating the three unrenovated units, 24 units can be built “by right” on the back of the property. Targeted enhancements to the leasing office combined with amenity additions such as a pool and fitness center will complement existing unit interior renovations and boost the property’s perception for discerning renters. Already achieving impressive organic rent growth, nearly 6% on new leases and 4% on renewals over the last 5 months, new ownership can leverage outstanding market rent growth (42% Class B submarket rent growth over the last 5 years) to capture additional revenue and time value-add improvements perfectly.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Getting around

  • 33/100

    Walk Score ®

  • 20/100

    Transit Score ®

  • 50/100

    Bike Score ®

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Location

  • City Tampa, FL
  • Neighborhood Palm River-Clair Mel
  • Zip Code 33619
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Centennial Park

    4.18 miles

  • Centro Ybor

    4.43 miles

  • Tampa

    4.55 miles

  • Streetcar Society

    4.55 miles

  • Publix

    4.59 miles

  • York Street

    4.59 miles

  • Cumberland Avenue

    4.60 miles

  • Cadrecha Plaza

    4.67 miles

  • AMALIE Arena

    4.77 miles

  • HSBC

    4.99 miles

  • 7-Eleven

    0.44 miles

  • Citgo

    0.76 miles

  • Marathon

    1.00 miles

  • Chevron

    1.16 miles

  • Mobil

    1.30 miles

  • Shell

    1.91 miles

  • Wawa

    2.13 miles

  • Tesla Supercharger

    2.28 miles

  • Enphase

    4.06 miles

  • Tesla Destination Charger

    4.06 miles

  • Faculty & Staff Parking

    3.01 miles

  • Citigroup Center

    3.13 miles

  • Parking For Dannys All American Diner

    3.39 miles

  • Centro Ybor Garage

    4.47 miles

  • Florida Aquarium Parking Lot

    4.57 miles

  • Channelside Parking Garage

    4.68 miles

  • Fernando Noriega Junior Garage

    4.71 miles

  • Garrison Street Surface Lot

    4.77 miles

  • THEA Overflow Parking

    4.80 miles

  • InTown Suites Extended Stay Tampa FL

    0.43 miles

  • Clarion Inn And Conference Center Tampa-Brandon

    1.37 miles

  • Comfort Inn Suites - Brandon

    1.95 miles

  • Motel 6

    2.04 miles

  • SpringHill Suites Tampa Brandon

    2.05 miles

  • Country Inn & Suites, Tampa/Brandon, FL

    2.05 miles

  • La Quinta Inn & Suites Tampa Brandon West

    2.22 miles

  • Fairfield Inn & Suites Tampa Brandon

    2.23 miles

  • Hampton Inn Tampa/Brandon

    2.26 miles

  • Courtyard Tampa Brandon

    2.28 miles

  • Save-A-Lot

    0.41 miles

  • MD Oriental Market

    1.89 miles

  • Publix

    2.71 miles

  • Dillard's

    2.81 miles

  • Long Home Products

    2.86 miles

  • TJ Maxx

    2.88 miles

  • JCPenney

    2.90 miles

  • Brandon Mall

    2.93 miles

  • Ross

    2.95 miles

  • Regency Square Shopping Center

    2.97 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Armature Park