5401 Waters AveTampa, FL 33634

Property Details for 5401 Waters Ave

Year built

1998

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.06 AC

Property size (Sq ft)

7,569 SF

Zone code

M

Property type

Banks

APN

U192818ZZZ000000915800

APU

U192818ZZZ000000915800

Description

This 5,140-square-foot building, situated on a 1.04-acre corner lot in Tampa, Florida, presents a compelling redevelopment opportunity. Formerly a bank, the property has undergone significant renovations, resulting in a flexible, open floor plan adaptable to various commercial uses. Its location on W. Waters Avenue, a major east-west thoroughfare boasting 45,000 average daily traffic (ADT), ensures exceptional visibility and high traffic exposure. The elevated corner lot provides unobstructed views and allows for prominent pylon signage. The property benefits from its proximity to numerous amenities, including hotels, an AMC cinema, restaurants, a shopping mall, and retail shops, all within a half-mile radius. Convenient access to major roadways such as the Veterans Expressway, I-275, I-4, and Dale Mabry Highway, as well as its location within a 10-minute drive (two exits) of Tampa International Airport, further enhances its appeal. The surrounding area boasts a strong daytime population, with over 139,100 employees within a 5-mile radius. This property is zoned Commercial - M and is located in the North Airport Redevelopment Area, where multiple grants may be available. The asking price is $2,495,000. This is an exceptional opportunity for investors seeking a high-visibility, high-traffic location with significant redevelopment potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,189,133

  6.5%

  $2,943,815

  7%

  $2,733,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,483,463

  Geo Method

  $3,483,463

• Alternative Use

  Use

  Valuation

  Residential

  $2,483,218

  Hospitality

  $2,274,614

  Educational

  $1,892,452

  Medical

  $1,957,537

  Retail

  $2,943,815

Location Insight

City

Tampa

County

Hillsborough

State

Florida

Latitude

28.0261

Longitude

-82.5339

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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