8447 56Th StTampa, FL 33617

Property Details for 8447 56Th St

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.13 AC

Property size (Sq ft)

8,003 SF

Zone code

CG

Property type

Retail properties

Property subtype

Turn key restaurants

APN

T22281955Z000013000010

APU

T22281955Z000013000010

Description

This exceptional 1.74-acre commercial land parcel, located at 8447 N 56th St, Tampa, FL 33617, presents a unique development opportunity. Situated in the thriving Temple Terrace area, this property boasts prime visibility with 165 feet of frontage on N 56th Street and 200 feet of frontage on South Riverhills Drive. The high-traffic location, averaging 40,000 vehicles daily, ensures maximum exposure for any commercial venture. Currently zoned Commercial General (CG), with a future land use designation of Downtown Mixed Use (DMU-35), this site offers incredible versatility. Its ample space is ideal for a wide range of uses, including hotels, restaurants, craft breweries, or retail establishments. The property's proximity to major attractions like the University of South Florida (USF), Busch Gardens, and Moffitt Cancer Center provides access to a large and diverse customer base. The expansive lot allows for ample parking and outdoor amenities, enhancing the appeal and functionality of any development. This is a truly exceptional investment opportunity in a rapidly growing area of Tampa, offering significant potential for substantial returns. The asking price for this remarkable property is $1,000,000. Hillsborough County location and zip code 33617.

• CAP approach

  CAP return

  Valuation

  6%

  $2,375,068

  6.5%

  $2,192,370

  7%

  $2,035,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,683,202

  Geo Method

  $3,683,202

• Alternative Use

  Use

  Valuation

  Residential

  $1,849,346

  Hospitality

  $1,693,991

  Educational

  $1,409,381

  Medical

  $1,457,852

  Retail

  $2,192,370

Location Insight

City

Temple Terrace

County

Hillsborough

State

Florida

Latitude

28.0272

Longitude

-82.3927

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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