3600 Waters AveTampa, FL 33614

Property Details for 3600 Waters Ave

Year built

2022

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.19 AC

Property size (Sq ft)

5,699 SF

Zone code

CI

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

U282818D0R000000000010

APU

U282818D0R000000000010

Description

This exceptional investment opportunity presents a brand-new, 5,476 square foot Circle K gas station situated on a 2.19-acre lot in Tampa, Florida. Built in 2022, this property boasts a 13-year remaining lease term (expiring 11/30/2037) with a credit-rated tenant under an absolute NNN lease. The lease includes 5% rent bumps every five years and six 5-year renewal options, ensuring long-term stability and appreciation. Located at a high-traffic, signalized intersection averaging 65,000 vehicles per day, this property benefits from its proximity to Interstate 275 (4 miles, 188,000 VPD). The property's exceptional location is further validated by a top Placer.ai ranking (77th percentile), indicating high performance. The asking price is $2,850,000, representing a 5.00% cap rate and a current NOI of $142,500. This prime Tampa location, ranked #1 in Florida by Forbes, offers significant growth potential within a thriving market. The property's address is 3600 W Waters Ave, Tampa, FL 33614, APN U-28-28-18-D0R-000000-00001.0. This is a rare opportunity to acquire a high-performing asset in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,401,224

  6.5%

  $2,216,515

  7%

  $2,058,192

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,622,837

  Geo Method

  $2,622,837

• Alternative Use

  Use

  Valuation

  Residential

  $1,869,713

  Hospitality

  $1,712,647

  Educational

  $1,424,902

  Medical

  $1,473,907

  Retail

  $2,216,515

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0247

Longitude

-82.5014

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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