1797 Hillsborough AveTampa, FL 33603

Property Details for 1797 Hillsborough Ave

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.87 AC

Property size (Sq ft)

1,632 SF

Zone code

CI

Property type

Office buildings

APN

A3528183H0000009000200

APU

A3528183H0000009000200

Description

This exceptional investment opportunity presents a brand-new, 2,503 square foot Starbucks located at 1797 W Hillsborough Ave, Tampa, FL 33603. The property boasts a 10-year net lease with six 5-year renewal options, featuring a corporate guarantee from Starbucks Corporation. The lease includes a 10% rental increase every five years, providing inflation protection and significant NOI growth. Built in 2024, this single-story building sits on a high-traffic thoroughfare with an AADT of 54,500 vehicles. The property benefits from strong demographics, including a population of 14,423 and an average household income of $82,411 within a one-mile radius. The asking price is $4,000,000, yielding a 5.25% cap rate and a current NOI of $210,000. The property is zoned CI - Commercial Intensive, and the landlord responsibilities are limited to roof, structure, parking lot paving, and utility systems. The tenant is responsible for all other maintenance and expenses, including taxes and insurance. This is a low-maintenance, high-return investment in a prime Tampa location, offering significant long-term value and stability. The property's proximity to Tampa International Airport and major roadways further enhances its appeal. This is a rare opportunity to acquire a newly constructed, high-performing asset with a blue-chip tenant in a thriving market.

• CAP approach

  CAP return

  Valuation

  6%

  $467,775

  6.5%

  $431,792

  7%

  $400,950

• Comparable approach

  Method

  Valuation

  Relative Method

  $298,052

  Geo Method

  $298,052

• Alternative Use

  Use

  Valuation

  Residential

  $535,422

  Hospitality

  $490,444

  Educational

  $408,044

  Medical

  $422,077

  Retail

  $634,735

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.9964

Longitude

-82.48

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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