2124 S 78th StreetTampa, FL 33619Price: $950,000

  • Price: $950,000
  • 88 Days on Market
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Federal 30-year interest rate: 6.89% last updated on Jul 11, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $950,000List Price
  • 2.8Acreage
  • 2,016Square Feet

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**Prime Commercial Real Estate Opportunity in Tampa Area - 2.8 Acres MOL** (price does not include business) Seize a remarkable investment opportunity with this 2.8 -acre property strategically located in a thriving commercial neighborhood of Tampa. This property, currently zoned for both CN (Commercial Neighborhood) and BPO (Business, Professional Office), offers a versatile foundation for various commercial endeavors or office industrial developments. **Acreage:** 2.8 acres MOL, with a professional survey available. **Zoning:** Dual zoning CN and BPO - ideal for a mix of retail, service, and professional office applications. **Future Land Use:** R-9, offering potential for residential development up to 9 units per acre. Development Potential: The current R-9 land use designation opens the door for rezoning for residential building projects, including high-density housing. With the adjacent property also for sale, there's a combined potential of approximately 5 acres (carwash property located at 2134 S 78th Street), presenting a rare chance to develop government housing or a mixed-use complex that can cater to a growing demand in the area. Located in a bustling commercial district with easy access to major highways, local businesses, and community amenities, this property positions future developments at the heart of convenience and growth. Whether you're looking to expand current commercial structures or explore residential developments, this property offers the flexibility to align with market demands. Its robust zoning permissions and significant acreage make it a prime candidate for a landmark project in Tampa. This listing accentuates the property's flexible use under current zoning laws and its potential for future residential or mixed developments, making it an attractive investment for commercial developers and government housing planners alike. Current Lease Details: o Tenant Stability: A reliable tenant in place, having recently renewed their lease option for an additional 5 years as of April 1, 2024. o Annual Rent Increase: Contractual rent increase of 2% per year, ensuring a growing income. o Lease Documentation: Full lease details available upon request. This 2.8 acre site consists of a 2,016 SF convenience store structure (price does not include business) along busy 78th Street in the heart of Claire Mel. The property has excellent parking, additional storage opportunity, room for expansion and excellent visibility and signage with exposure to almost 20,000 cars per day. No historical c-store sales data will be available. There is currently a tenant on site paying estimated $2600 per month plus sales tax gross for c-store and paved parking area only. Additional covered area adjacent to the store can be leased to increase income and has been rented for food trucks, car detailing and fruit stands over the years. The convenience store and adjacent covered storage structure utilizes approximately 20,000 SF of land while approximately 101,899 SF or 2.34 acres lie to the east of the store. This land is also zoned BPO and has a Future Land Use of Residential 9 (.35 FAR). Potential use for this "excess" land is a 50,949 SF residential development of 21 units or a potential commercial office development totaling 35,664 SF of building.

Property Details of 2124 S 78th Street

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Listed by M SIX REALTY POWERED BY SELLSTATE

Based on information submitted to StellarMLS as of July 16, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or StellarMLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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