1601 22Nd StTampa, FL 33605

Property Details for 1601 22Nd St

Lot size

0.23 AC

Zone code

YC-6

Property type

Retail properties

Property subtype

Parking lots & garages

APN

A1729194WA000021000082

APU

A1729194WA000021000082

Description

This exceptional investment opportunity presents a 4,806 square foot, 100% occupied retail building situated on a 0.32-acre corner lot in Tampa, Florida. The property, built in 1958 and renovated in 2004, features two tenants—a restaurant and a cabinet showroom—both operating under short-term leases at below-market rent. Boasting a strong 6.36% cap rate and an asking price of $899,000 ($187.06/sq ft), this property offers significant upside potential. The location benefits from high visibility and accessibility, with exposure to over 28,000 vehicles per day. Its proximity to the Port of Tampa, downtown Tampa (within 3 miles), and Tampa International Airport (within 10 miles) further enhances its desirability. The area's robust demographics, including a population exceeding 206,400 within 5 miles and an average household income exceeding $148,900 within 1 mile, contribute to its strong investment prospects. Furthermore, planned city investments of $15 million in roadway improvements and the Green ARTery Perimeter Trail (construction year 2027) promise to further enhance the property's value and appeal. This is a rare opportunity to acquire a well-located, income-producing retail property in a rapidly growing market. The gross lease structure simplifies management, and the current tenant mix provides immediate cash flow.

• CAP approach

  CAP return

  Valuation

  6%

  $3,034,867

  6.5%

  $2,801,416

  7%

  $2,601,314

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,602,276

  Geo Method

  $4,602,276

• Alternative Use

  Use

  Valuation

  Residential

  $2,363,099

  Hospitality

  $2,164,586

  Educational

  $1,800,910

  Medical

  $1,862,846

  Retail

  $2,801,416

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.959

Longitude

-82.4345

CBSA code

45300

CBSA name

TAMPA-ST. PETERSBURG-CLEARWATER, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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