For Sale
$35,740,000

2915 Dale Mabry Hwy Tampa, FL 33607

100% occupied, high-income area, strong tenants.

Overview

Added:
Dec 11, 2024
Days on market:
135
This exceptional investment opportunity presents the Tampa Bay Center, a 142,350 square foot shopping center boasting a 100% occupancy rate. Strategically located in Tampa's Westshore Business District at 2915 N Dale Mabry Hwy, 33607, this three-building, fee-simple property sits on 11.13 acres and offers 470 parking spaces. The center features eight tenants, including prominent national brands like Ashley Furniture, Floor & Decor, Dollar Tree, and The Tile Shop. Six of these tenants have occupied the space for six or more years, demonstrating strong commitment and stability. The weighted average lease term remaining is 3.5 years, ensuring a consistent cash flow. The property's Net Operating Income (NOI) is $2,323,044, resulting in a 6.50% cap rate at an asking price of $35,740,000 ($251.07 per square foot). The center benefits from its location on major thoroughfares with a combined Annual Average Daily Traffic (AADT) exceeding 90,000 vehicles, providing exceptional visibility and accessibility. The Westshore Business District, home to over 6,500 businesses and 100,000 employees, surrounds the property, ensuring a robust customer base. Nearby amenities include Tampa International Airport, International Plaza, Westshore Plaza, and Midtown Tampa. Within a one-mile radius, the average household income is $95,192, rising to $119,848 within three miles. This stabilized, triple-net (NNN) leased property, with credit-rated tenants, represents a rare opportunity to acquire a trophy asset in a highly desirable location. The property is further enhanced by a 5,697 square foot outparcel, offering additional investment potential.

Highlights

  • Investment-grade power center anchored by Ashley Furniture and Floor & Décor, featuring six national tenants including Dollar Tree, The Tile Shop, Tropical Smoothie Café, and T-Mobile.
  • 62.6% GLA occupied by publicly traded companies (Floor & Décor, Dollar Tree, The Tile Shop, T-Mobile).
  • Strategically located at the signalized intersection of N Dale Mabry Highway and W Columbus Drive in Tampa's Westshore Business District.
  • High visibility location with excellent access to major roadways, Tampa International Airport, and significant retail amenities.
  • 100% occupied with eight tenants, six of whom have been in place for six or more years; includes a 5,697 SF outparcel (WingHouse) with potential disposition opportunity.
  • Strong demographics: 1-mile radius average household income $95,192; 3-mile radius average household income $119,848.

Property Details for 2915 Dale Mabry Hwy

Property type
Lifestyle centers, Power centers
Square Feet
142,350 SF
Buildings
3
Lot Size (sq. ft)
484,823 SF
Units
8

Location Insight

City
Tampa
County
Hillsborough
State
Florida
Latitude
27.9659824
Longitude
-82.5025156

FAQs

What type of property is this?
Lifestyle center - 100% occupied, high-income area, strong tenants.
Where is the lifestyle center located?
The property is located at 2915 Dale Mabry Hwy Tampa, FL.
What is the asking price?
The asking price for this property is $35,740,000.
What are key features of this property?
This property features: Investment-grade power center anchored by Ashley Furniture and Floor & Décor, featuring six national tenants including Dollar Tree, The Tile Shop, Tropical Smoothie Café, and T-Mobile.; 62.6% GLA occupied by publicly traded companies (Floor & Décor, Dollar Tree, The Tile Shop, T-Mobile).; Strategically located at the signalized intersection of N Dale Mabry Highway and W Columbus Drive in Tampa's Westshore Business District.
How can I contact the broker?
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2915 Dale Mabry Hwy
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