119 N 11th STREET, #1,2,3,4, Tampa, FL, 33602 | $12,400,000

Channel District Mixed Use Property made up of an Office/Retail Condo Portfolio with optional Residential Penthouse: Realty Center International LLC proudly presents an exceptional, and totally unique, one-of-a-kind mixed use investment opportunity – a distinctive 3-unit office/retail condo portfolio along with an exclusive penthouse condo situated in the highly sought-after Channel District of Tampa. Strategically located just 1. 5 blocks away from the sought after Water Street Tampa development and Sparkman's Wharf, this property is positioned perfectly in the middle of the ongoing transformation of Tampa’s Channel District, not just into a dynamic Live-Work-Play community, but a desirable destination for all. Within just a few blocks you will find the Cruise ships port, Tampa aquarium, The Amalie Arena, the scenic Tampa riverwalk, a variety of diverse restaurants & entertainment venues & the Newly approved Ybor Harbor Development. Embrace the uniqueness of a boutique building where each floor functions as its own retail, office or residential condominium, where the elevator stops at your private lobby, with onsite parking &steel construction. The attached parking lot provides tenant convenience & value supplemented by the additional 150 public parking spaces available for lease next door.
Key Investment Considerations: 1. The high-quality construction, onsite parking & boutique condo design create the opportunity to maximize rental rates. Current market rental rates for Class A office space are conservative at $35 sq ft NNN, & trending upward. There are office/retail spaces renting as high as $50 sq ft & full-service executive suites as high as $73 sq ft 2. The CD-1 zoning is a mixed-use zoning that allows for many additional future uses & development. The ability to either purchase the 4th floor penthouse at this time or a first right of refusal to purchase at a later time, provides an owner with an opportunity for a luxurious on-site residence or additional rental income. 3. Condominium Ownership Flexibility: The condominium ownership structure allows for future disposition flexibility, including the potential future sale of individual units at a premium to users, adds to a diverse investment strategy. 4. The ability to offer tenants some onsite parking, coupled with extra parking available for lease next door, further enhances the property’s attractiveness. Property Facts: • Number of Condos: 3 Commercial, 1 Residential • Rentable office/retail pace: 15, 500 sq ft total / 1st floor: 3, 500 sq ft/ 2nd floor: 6, 000 sq ft/ 3rd floor: 6, 000 sq ft • Office/Retail onsite parking spaces: 15 • One of a kind penthouse: 4 bedrooms, 4. 5 baths /AC and heated: 5, 426 sq ft / Covered terraces: 592 sq ft / Garage: 1, 347 sq ft / Total: 7, 365 sq ft • 6 car garage plus 1 guest spot

Features

  • Property Type: Mixed Use
  • Construction: Metal Frame, Stucco
  • Levels: 1
  • Cooling: Central Air, Zoned
  • Year Built: 2006
  • Approx Sq. Feet: 21,892
  • Acreage: 0.33
  • Est. Taxes: $11,692
  • MLS#: U8238343
  • Days on Market: 183 days
  • Website: https://www.raveis.com
    /prop/U8238343/119n11thstreet_tampa_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 11/2/2024 8:32:08 AM)
Listing courtesy of REALTY CENTER INTERNATIONAL   Phone: 833-352-2666

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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

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119 N 11th STREET, #1,2,3,4, Tampa, FL, 33602

$12,400,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $9,920,000 $9,920,000 $9,920,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.625% 6.750% 6.500%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.343% 6.864% 6.725%
Monthly Tax Payment $974 $974 $974
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $63,519 $64,341 $86,414
Total Monthly Payment $64,618 $65,440 $87,513

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.