New Listing - 01/16/2025
5609 N Nebraska AVENUE, Tampa, FL, 33604
5 beds
1935
3,907 sqft
EAST SEMINOLE HEIGHTS MIXED USE OPPORTUNITY! 6 sources of income consisting of: A QUAD APARTMENT BUILDING / A RESTAURANT / A LARGE BILLBOARD / & SMALL STORAGE BUILDING. This perfectly located multi-use property is right in the thick of all of the revitalization of homes, new construction, and restaurant concepts. The property is composed of: 4 Unit quadplex (usually fully rented except during recent unit renovations) A 2/1 (740 sf.), B 1/1 (400 sf.), C 1/1 (560 sf.), D 1/1 (560 sf.), a separate garage / workshop adjacent to apartments (currently a part of restaurant lease); a free-standing Restaurant Property (currently rented Mexican Restaurant) with transferable 2COP liquor license, 1 mono-pole billboard currently on a land lease. The entire property is CI zoned so most uses are welcome on the property. Gross potential stabilized income is approx. $99,564 leaving a potential Net Operating Income of $78,106 and roughly an 8.5 CAP. These are the numbers to expect now that units have been renovated and only one unit remains to be leased. 4 years remain on the restaurant lease with tenant having an additional 5 year option thereafter with annual increases. Other recent capital improvements to the property are: A BRAND NEW WATERLINE AND METER TO THE APARTMENT BUILDING, NEW ROOF ON APARTMENT BUILDING, and new perimeter fencing installed. No owner financing is being offered.
Status:
Active
Type:
Multi-family
Laundry Remarks:
None
Units:
6
Subdivision:
PRESTONS SUB
Garage:
1-car
Heating:
Electric
Cooling:
Wall/Window Unit(s)
Lot Size:
82 x 137
Acreage:
0.26
Est. Taxes:
$9,842
Construction
Block
Utilities
Public
Days on Market:
1
Min Lease Term:
No Minimum
MLS #:
TB8338524
Community Info
School Info
Walk Score
Yelp
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Listing courtesy of FUTURE HOME REALTY INC Phone: 813-855-4982