$2,600,000 list price
location_onTEMPLE TERRACE, FL 33617 · Hillsborough County
7% CAP Rate, 9% vacancy rate factored in price, 4% management fee factored in price, 53% occupied by credit tenants, 5 year roof warranty remaining, Tremendous parking ration 5 per 1000. Foresight Property Services, LLC is pleased to present the 56th Street Professional Center, a strategically located medical office building in the heart of the Tampa area. This Professional Center is centrally located, with great exposure on 56th Street. It has easy access to many large retailers, hospitals, and is very close to the University of South Florida, and to major highways such as I-75 and I-275. The building offers ample parking to accommodate for many business uses, which makes it a great space for any professional services such as medical offices, attorney offices, insurance agencies, etc. The price of this building includes a 9% vacancy factor as well as a 4% management fee. This Professional Center currently contains six tenants with 53% of the building occupied by credit tenants. The building has been well maintained since its purchase in 2007, and has been institutionally managed since then. The property has a nice mix of tenants mostly medical related. The roof still has a five year warranty remaining on it. This property also offers ample parking with enough spaces to accommodate all needs. Units are also allocated with nice signage on 56th Street. With currently in-place cash flows, the property is primed for an end-user occupant looking for an investment opportunity into real estate with long-term value. Considering the proposed purchase price is well below replacement cost, the 56th Street Professional Center creates a unique opportunity for a plethora of investment strategies.
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FORESIGHT PROPERTY SERVICES LL
813-855-3800
