Midtown Corner Retail / Medical Center

Located at the intersection of N. Macdill Avenue and W. Cypress Street.Excellent upside with this unique Midtown Multi-tenant Retail / Medical investment opportunity which is located at the hard corner lighted intersection of N. Macdill Avenue and W. Cypress Street. The 8,494 SF building sits on a 35,850 square foot (.82 Acre), CG (Commercial General) zoned parcel just blocks away from the newly established “Midtown” district of Tampa, Florida. This site is conveniently located in the heart of a large high-density population with excellent access from major roads with an abundance of commercial activity and is one of the most rapidly redeveloping neighborhoods throughout the Tampa-St Petersburg MSA. The building currently consists of 7 units ranging from 793 SF up to 2010 SF. This site is one of the few throughout the market with adequate parking (46 spaces or 6.2 spaces / 1000 SF) for medical users within such close proximity to serve the highly sought after South Tampa demographic. The retail exposure and ample parking offers an opportunity to alter tenant mix over time and drastically increase the investment return as medical lease rates in this market are currently in the mid to upper 30's per SF NNN. This parcel also has a highly desirable future land use designation of CMU-35 which stands for Community Mixed Use – 35 units to the acre development density for a mixed use development. The development potential of such a land use also comes with a potential development FAR (floor-to-area ratio) of 2.0 meaning that this .81 acre parcel would have a maximum development potential of 28 units totaling a maximum of 71,700 SF of building improvements. There is currently 2,803 SF available between 2 suites and the cap rate is 5.30% at current occupancy with forecasted cap rate increase to 9.37% by mid 2027. Please view "Documents" section for access to Rent Roll and Lease information and contact us directly to discuss additional tenancy and P&L informationLease space available in this unique Midtown property located at the hard corner lighted intersection of N. Macdill Avenue and W. Cypress Street. The 8,494 SF building sits on a 35,850 square foot (.82 Acre), CG (Commercial General) zoned parcel just blocks away from the newly established “Midtown” district of Tampa, Florida. This site is conveniently located in the heart of a large high-density population with excellent access from major roads with an abundance of commercial activity and is one of the most rapidly redeveloping neighborhoods throughout the Tampa-St Petersburg MSA. The building currently consists of 7 units ranging from 793 SF up to 2,010 SF. This site is one of the few throughout the market with adequate parking (46 spaces or 6.2 spaces / 1000 SF) for medical users within such close proximity to serve the highly sought after South Tampa demographic. Current availability: Suite D - Upstairs - 793 SF - Initial estimated monthly rent: $1,499 (includes base rate $18.00 sf/yr NNN + CAM: $4.69) plus applicable sales tax Suite B/C - Downstairs - 2,010 SF - Initial estimated monthly rent: $6,146 (includes base rate $32.00 sf/yr NNN + CAM: $4.69) plus applicable sales tax