8333 New York AveHudson, FL 34667

Property Details for 8333 New York Ave

Year built

1972

Lot size

1.50 AC

Property size (Sq ft)

5,332 SF

Zone code

00C3

Property type

Office buildings

APN

23-24-16-0040-00600-0030

APU

2324160040006000030

Description

This exceptional Hudson, Florida investment opportunity boasts a compelling 8.83% cap rate, projected to increase to 11.58% with pro-forma improvements. Situated on 1.5 acres, the property comprises three buildings totaling 7,579 square feet and includes a 1,335 sq ft single-family residence with a pool, a 912 sq ft duplex, and a 5,332 sq ft warehouse. The warehouse features office space, a climate-controlled two-bay garage/body shop with a car lift, and ample storage. Currently generating $83,400 in gross annual income with $12,866 in expenses, resulting in a net operating income (NOI) of $70,534, this property presents significant value-add potential. The pro-forma NOI is projected at $92,500. Seven tenants occupy the property under month-to-month leases, ensuring 100% occupancy. The property's diverse income streams, including residential and commercial rentals, provide a stable and attractive investment profile. The asking price is $799,000, translating to $105.42 per square foot. This multi-use property offers a unique blend of residential and commercial space, making it an ideal investment for those seeking strong cash flow and significant upside potential through lease adjustments and yard rent increases. The property is located at 8333 New York Ave, Hudson, FL 34667.

• CAP approach

  CAP return

  Valuation

  6%

  $1,105,832

  6.5%

  $1,020,768

  7%

  $947,856

• Comparable approach

  Method

  Valuation

  Relative Method

  $588,013

  Geo Method

  $588,013

• Alternative Use

  Use

  Valuation

  Residential

  $1,265,752

  Hospitality

  $1,159,422

  Educational

  $964,626

  Medical

  $997,801

  Retail

  $1,500,529

Location Insight

City

Hudson

County

Pasco

State

Florida

Latitude

28.3756

Longitude

-82.6762

CBSA code

45300

CBSA name

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

Property Tax & Assessments

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