2525 Hillsborough AveTampa, FL 33610

Property Details for 2525 Hillsborough Ave

Year built

1963

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

13.81 AC

Property size (Sq ft)

91,503 SF

Zone code

CI

Property type

Retail properties

Property subtype

Super regional malls

APN

A0529199UJ000000000040

APU

A0529199UJ000000000040

Description

Tampa Festival Centre offers a prime retail opportunity in a thriving Tampa neighborhood. This recently renovated and expanded strip center boasts 141,580 square feet of leasable space and features a strong tenant mix including Key Food Supermarket, Citi Trends, Rainbow, Family Dollar, Rent-A-Center, Hibbett Sports, T-Mobile, and Little Caesars. Located on a spacious 14.6-acre site on Hillsborough Avenue, just east of I-275 and north of the Central Business District, the center benefits from high visibility and accessibility with ample parking. The property enjoys a 53,500 AADT on East Hillsborough Avenue, ensuring significant foot traffic. Currently, there is one space available, ranging from 1 to 35,600 square feet, providing flexibility for various retail concepts. The center's above-average customer visit frequency of 3.23 demonstrates its strong appeal to shoppers. This is an exceptional opportunity to establish a presence in a bustling and well-established retail center within a dynamic Tampa community. A 3,221 square foot space is immediately available for lease.

• CAP approach

  CAP return

  Valuation

  6%

  $27,769,942

  6.5%

  $25,633,792

  7%

  $23,802,806

• Comparable approach

  Method

  Valuation

  Relative Method

  $42,112,208

  Geo Method

  $42,112,208

• Alternative Use

  Use

  Valuation

  Residential

  $21,623,062

  Hospitality

  $19,806,610

  Educational

  $16,478,866

  Medical

  $17,045,600

  Retail

  $25,633,792

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.9945

Longitude

-82.4316

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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