5321 Fowler AveTemple Terrace, FL 33617

Property Details for 5321 Fowler Ave

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.71 AC

Property size (Sq ft)

39,604 SF

Zone code

CG

Property type

Retail properties

Property subtype

Strip malls

APN

T15281954V000009B00000

APU

T15281954V000009B00000

Description

Terrace Ridge, a Class A, single-story office building totaling 34,134 square feet, presents a unique investment opportunity in the desirable Temple Terrace submarket. Located at the southwest corner of 56th and Fowler, this property boasts excellent visibility and accessibility from three streets. Built in 1987, the building sits on 4.71 acres of land and offers abundant surface parking. Currently, 5,521 square feet of space is available for lease, divisible into three suites ranging from approximately 1,353 to 1,634 contiguous square feet. The property is zoned CG and features a total of three suites. The building benefits from its strategic location near the University of South Florida and is anchored by a Carrabba's Italian Grill, adjacent to a recently redeveloped public space. This prime location offers high traffic counts and strong visibility, making it ideal for a variety of businesses. The landlord plans to divide the available space into three units, with approximate sizes of 1,353, 1,577, and 1,634 square feet, all anticipated to be available in the second quarter of 2024. The property's APN is 200659.0000.

• CAP approach

  CAP return

  Valuation

  6%

  $11,753,366

  6.5%

  $10,849,261

  7%

  $10,074,314

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,226,854

  Geo Method

  $18,226,854

• Alternative Use

  Use

  Valuation

  Residential

  $9,151,758

  Hospitality

  $8,382,961

  Educational

  $6,974,525

  Medical

  $7,214,390

  Retail

  $10,849,261

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0532

Longitude

-82.3946

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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