This Retail Property is Off-Market.
Contact for similar Commercial Properties For Sale in Florida.
O’Reilly Commercial Realty LLCPatrick O’Reilly
Phone: (352) 237-2222
Email: OreillyCommercialRE@gmail.com
Listing - Brandon Crossroads - Commercial Real Estate Short Sale Opportunity
Price $7,950,000
Property Use Type Investment
Gross Leasable Area 30,682 SF
Cap Rate 7%
Price per SF $259.11
Tenancy Multiple Property
Type Retail
Year Built 2006
Property Sub-type Neighborhood Center
Lot Size 3.21 AC
Brandon Investment Property Description
This property is known as Brandon Crossroads and is located in Brandon, a suburb just east of the city of Tampa, south of Plant City, and west of Valrico. Brandon is categorized as a census-designated place (CDP) in Hillsborough County with a total population of 103,483 according to the 2010 census.
Brandon has been expanded rapidly since 2000 with a population growth estimated at 33% from 2000-2010, which eclipses the rate of Hillsborough County (23%) and the state of Florida (18%) during the respective period.
According to the Tampa Bay Partnership the Greater Tampa Bay Region contains 4 million residents and this number is projected to increase through year 2017. Those are fine reasons for REIT Investment to purchase in this area of Florida. Brandon Crossroads is a rare opportunity to acquire a well occupied retail center in one of Tampa Bay' s strongest retail markets (97.2% occupancy rate) through a short sale. This newly constructed retail plaza has contracted rents well below the sub-market and a strong history as the five largest tenants have occupied space since the center opened 10 years ago.
According to the Tampa Bay Partnership the Greater Tampa Bay Region contains 4 million residents and this number is projected to increase through year 2017. Those are fine reasons for REIT Investment to purchase in this area of Florida. Brandon Crossroads is a rare opportunity to acquire a well occupied retail center in one of Tampa Bay' s strongest retail markets (97.2% occupancy rate) through a short sale. This newly constructed retail plaza has contracted rents well below the sub-market and a strong history as the five largest tenants have occupied space since the center opened 10 years ago.
Highlights of Florida Commercial Property Short Sale
- Rare opportunity to acquire a stabilized center in a Short Sale. (Contact Broker for Details)
- Strong Anchors: The five largest tenants, which occupy 49% of GLA, are also original tenants who have occupied space since 2006.
- Average Contracted Rents are $17.68sf plus NNN, well below the sub-market.
- Located in one of Tampa Bay' s strongest retail markets: sub-market occupancy is is approximately 97.2%.
- National retailers surrounding the asset include: Bass Pro, Target, Wal-Mart, Costco, Kohl' s, LA Fitness, Publix, Lowe's, Nordstrom Rack, Petsmart,
- Homegoods, Apple, Macy's, Dick's, Dillards, JC Penny, Bed Bath & Beyond, Sports Authority, Toys R US, Party City, Sears, Cheesecake Factory, Ross, etc.
Financial Summary (Actual)
Net Operating Income $556,500
Listing information courtesy of Franklin Street. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.
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