For Sale
$3,630,409

1701 9Th AveTampa, FL 33605

7,840 SF Pharmacy, 5.5% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a fee-simple interest in a 7,840-square-foot retail property located at 1701 E 9th Ave, Tampa, FL 33605, within the vibrant Historic Ybor City District. The property is currently leased to DaVita Dialysis, a Fortune 500 company and the largest provider of kidney care services in the US, under an absolute NNN lease. The lease commenced April 8, 2009, and features a 15-year initial term with four five-year extension options, demonstrating DaVita's long-term commitment to this location. The lease is corporately guaranteed by DaVita Healthcare Partners, Inc., providing significant security for investors. The property boasts a strong 5.50% cap rate and a net operating income (NOI) of $199,672. Built in 1950, the property recently underwent over $100,000 in tenant improvements as part of the lease extension. Its strategic location offers convenient access to major roadways including Interstate 275, Interstate 4, and the Selmon Expressway. This is a rare opportunity to acquire a single-tenant, net-leased property with a highly creditworthy tenant in a desirable Tampa location. The asking price is $3,630,409.

Highlights

  • Absolute NNN lease with investment-grade tenant DaVita (S&P: BB), a Fortune 500 company.
  • Corporate guarantee from DaVita Healthcare Partners, Inc.
  • Recent $100,000+ tenant improvements by DaVita.
  • Prime location in Tampa's Historic Ybor City District.
  • Excellent access to I-275, I-4, and the Selmon Expressway.

Property Details for 1701 9Th Ave

Property type
Retail properties, Drug stores
Square Feet
7,840 SF
Year Built
1950

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
27.96147268
Longitude
-82.44049746
1701 9Th Ave, Tampa, Florida

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1701 9Th Ave
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