2811 34Th StTampa, FL 33605

Property Details for 2811 34Th St

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.21 AC

Property size (Sq ft)

5,568 SF

Zone code

CI

Property type

Office buildings

APN

A0829194NS000001000100

APU

A0829194NS000001000100

Description

This exceptional 5,568-square-foot mixed-use property in Tampa, Florida, presents a unique investment opportunity. Located in the vibrant Ybor City area, this two-story, free-standing building boasts a prime location near I-4, offering easy access to downtown Tampa and the Tampa Riverwalk. Constructed in 1984 and extensively renovated in 2018, the building features a new roof (2022) and new laminate luxury floors (installed 6 months prior to listing). Currently configured as a fully built-out recording studio with five rooms, double drywall, soundproofing, and four exhaust fans, the ground floor also includes a kitchen and bathroom (plumbing for a second bathroom is available). The structure's load-bearing beams (every 24 feet) allow for the potential reinstatement of four bay doors. The upper floor comprises three apartments (two 2-bedroom/2-bathroom and one 1-bedroom/1-bathroom), currently used for storage but easily convertible back to income-generating units. The property includes a fenced area with 15 parking spaces and an additional 4,850-square-foot parcel with a separate water meter. The 0.34-acre lot is zoned CI, permitting over 109 uses, including retail, office, residential, restaurant, warehouse, and various entertainment options. A Phase 1 environmental study was completed in May 2021, and a termite inspection warranty is in place for three years. This property offers significant upside potential for owner-users or investors seeking a versatile and well-located asset in a thriving Tampa neighborhood. The asking price is $995,000, with owner financing available. This is an Opportunity Zone property.

• CAP approach

  CAP return

  Valuation

  6%

  $1,302,800

  6.5%

  $1,202,590

  7%

  $1,116,690

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,016,880

  Geo Method

  $1,016,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,386,790

  Retail / Commercial

  $1,220,180

  Mixed-Use / Specialty

  $1,212,870

  Hospitality / Lodging

  $885,997

  Institutional / Educational

  $1,259,840

  Residential Income

  $1,474,020

  Multifamily

  $1,784,250

  Automotive / Energy

  $1,079,870

  Parking / Income-Based Land

  $375,570

  Restaurant / Food Service

  $624,514

  Healthcare / Senior Housing

  $1,246,810

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.969

Longitude

-82.4221

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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