1121 E Twiggs STREET, Tampa, FL, 33602 | $14,600,000

Seize the opportunity to acquire a prime redevelopment site in Tampa’s Channel District. This assemblage consists of three adjacent parcels at 1121, 1125, and 1127 E. Twiggs St. , totaling approximately 0. 7049 acres. Zoned CD-1 (Channel District - Mixed Use) with a Current FAR of 7. 0, the property offers flexibility for mixed-use commercial projects. Potential developments include office, retail, hospitality, and hotel ventures, making it an ideal asset for investors aiming to leverage Tampa’s rapid growth. Located next to Madison Street Park and Dog Park, this site offers adjacent green space and a prime position near top attractions like the Tampa Riverwalk, Amalie Arena, Sparkman Wharf, and the Florida Aquarium. Its proximity to the Tampa Convention Center, which hosts over 100 major events annually, amplifies its appeal for hotel and hospitality developments catering to business and leisure travelers. The Tampa Riverwalk, a major draw with over 1. 2 million annual visitors, ensures foot traffic and visibility for retail and hospitality businesses. Initiatives such as the Riverwalk Attraction Pass, which saw 12, 000 visitors redeem passes in 2023, further bolster the area’s vibrancy. The property benefits from excellent connectivity, with access to major roads such as Channelside Drive, FL-618 (The Selmon Expressway), I-275, and I-4. Public transit is available via the TECO Line Streetcar, linking downtown Tampa with Ybor City. Tampa International Airport, located just a short drive away, is undergoing a $2. 5 billion expansion, positioning itself to handle up to 35 million passengers by 2037. The airport's growth enhances the potential for developments catering to both domestic and international travelers. Port Tampa Bay, Florida’s largest port, is located 0. 3 miles from the property, handling over 36 million tons of cargo annually. This offers a logistical advantage for large-scale construction projects or businesses reliant on imported materials. Continued investment in the port's expansion will support Tampa’s commercial and industrial growth. Utility services at the site are robust, with power from Tampa Electric, water and sewer services from the City of Tampa, and internet from Spectrum and Frontier Communications, making the site fully equipped for various development possibilities. Tampa’s economy is booming, driven by industries like finance, technology, healthcare, and real estate. Major corporations such as Raymond James Financial, Bloomin’ Brands, and Moffitt Cancer Center are fueling the city’s rapid growth. This environment is attracting investment, with over $1 billion in taxable hotel revenue generated in Hillsborough County in 2023, a 4. 82% increase from the previous year. Tourism plays a key role, with 26. 7 million visitors contributing $8. 5 billion annually and the world renowned beaches of St Pete and Clearwater less than 30 miles away. Tampa is also a top migration destination, with a net gain of 54, 000 between July 2022 and July 2023. This influx, driven by affordable living and favorable business conditions, positions Tampa as one of the nation’s fastest-growing regions. With its prime location, flexible zoning, and proximity to key attractions and transportation hubs, this 0. 7049-acre site offers exceptional potential for investors looking to shape the future of downtown Tampa. Don’t miss this opportunity to capitalize on one of the city’s most exciting and fast-growing districts. Full description in attachments.

Features

  • Property Type: Mixed Use
  • Construction: Brick
  • Utilities: Electricity Available, Public
  • Garage: 6 to 12 Spaces, Common
  • Heating: Central
  • Cooling: Central Air
  • Lot Size: 158 x 128
  • Year Built: 1925
  • Approx Sq. Feet: 20,969
  • Acreage: 0.44
  • Est. Taxes: $69,468
  • Lot Desc: Central Business District, City Lot, Near Public Transit, Seaport, Sidewalk
  • MLS#: TB8310023
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/TB8310023/1121etwiggsstreet_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 11/1/2024 11:46:20 PM)
Listing courtesy of ENGEL & VOLKERS TAMPA DOWNTOWN   Phone: 813-863-1986

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NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

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1121 E Twiggs STREET, Tampa, FL, 33602

$14,600,000

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 $11,680,000 $11,680,000 $11,680,000
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 $5,789 $5,789 $5,789
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $74,788 $75,756 $101,745
Total Monthly Payment $80,702 $81,670 $107,659

* 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.