1009 Platt StTampa, FL 33606

Property Details for 1009 Platt St

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.53 AC

Property size (Sq ft)

8,408 SF

Zone code

CG

Property type

Office buildings

APN

A2329184SV000002000070

APU

A2329184SV000002000070

Description

This exceptional Tampa, Florida investment opportunity encompasses a 1.32-acre assemblage of six parcels in the coveted Hyde Park Historic District. The portfolio includes two existing office buildings totaling 10,802 square feet, a surface parking lot with 46 spaces, and three vacant lots, all situated on 55,793 square feet of land with 450 feet of Platt Street frontage. The main building, constructed in 1986, is a two-story, 8,100-square-foot professional office building, currently vacant, offering significant redevelopment potential. A second, smaller two-story office building (1,914 sq ft) is also included. The property boasts a pro-forma NOI of $336,000 and a pro-forma cap rate of 5.02%, with an asking price of $6,697,350. The land value is $116.48 per square foot. Permitted zoning is CG. The property's prime location near Hyde Park Village, Downtown Tampa, and major attractions makes it an ideal investment for owner-users seeking redevelopment or adaptive reuse. Built in 1926 and 1986, this property presents a unique chance to capitalize on Tampa's thriving real estate market. The property is offered for sale by the owner.

• CAP approach

  CAP return

  Valuation

  6%

  $3,173,407

  6.5%

  $2,929,299

  7%

  $2,720,063

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,535,553

  Geo Method

  $1,535,553

• Alternative Use

  Use

  Valuation

  Residential

  $3,632,331

  Hospitality

  $3,327,196

  Educational

  $2,768,188

  Medical

  $2,863,390

  Retail

  $4,306,070

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

27.942

Longitude

-82.4704

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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