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9309 N Florida Ave 161,060 SF 100% Leased Office Building Tampa, FL 33612 $23,564,928 CAD ($146.31 CAD/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Approximately 11.41 acres of land fronting E Busch Blvd and N Florida Ave in Tampa, FL immediately adjacent to I-275
- Offering easy access to downtown Tampa, Tampa International Airport, and University of South Florida (USF)
- The Center features two multi tenant pylon signs along I-275
- Centrally located at the NEC of E Busch Blvd and N Florida Ave and adjacent to I-275
- The property is conveniently located in a dense and affluent sub market that contains a population of more than 357,708 and a household income of over
EXECUTIVE SUMMARY
RMC is pleased to offer for sale the Floriland Office Center, a 161,060 square-foot property located in Tampa, FL. Floriland is centrally located at the NEC of
E Busch Blvd and N Florida Ave and adjacent to I-275, offering easy access to downtown Tampa, Tampa International Airport, and University of South Florida
(USF). This offering provides investors with an attractive value-add opportunity as a result of several units that are subject to a lease termination right held by
the current anchor tenant named Ultimate Medical Academy (UMA). UMA currently leases six (6) units encompassing 117,988 sf. UMA holds a termination
right in its lease that needs to be exercised by 8/31/2025. UMA is anticipated to exercise its termination rights on five (5) of its existing units totaling 92,425
sf. UMA will continue to operate unit #100 (25,563sf) and per the terms of the lease, UMA will continue to pay rent until 8/31/2026 on any space that
it exercises its termination rights on. This structure offers a prospective buyer a one-year rental income stream while releasing the units subject to UMA’s
termination right. The units that UMA plans to vacate are in excellent condition and lease ready.
E Busch Blvd and N Florida Ave and adjacent to I-275, offering easy access to downtown Tampa, Tampa International Airport, and University of South Florida
(USF). This offering provides investors with an attractive value-add opportunity as a result of several units that are subject to a lease termination right held by
the current anchor tenant named Ultimate Medical Academy (UMA). UMA currently leases six (6) units encompassing 117,988 sf. UMA holds a termination
right in its lease that needs to be exercised by 8/31/2025. UMA is anticipated to exercise its termination rights on five (5) of its existing units totaling 92,425
sf. UMA will continue to operate unit #100 (25,563sf) and per the terms of the lease, UMA will continue to pay rent until 8/31/2026 on any space that
it exercises its termination rights on. This structure offers a prospective buyer a one-year rental income stream while releasing the units subject to UMA’s
termination right. The units that UMA plans to vacate are in excellent condition and lease ready.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
161,060 SF
Building Class
B
Year Built/Renovated
1972/2006
Price
$23,564,928 CAD
Price Per SF
$146.31 CAD
Cap Rate
9.50%
NOI
$2,238,925 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
161,060 SF
Building FAR
0.32
Lot Size
11.41 AC
Zoning
C-I, Tampa - Commercial Intensive
Parking
758 Spaces (4.71 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Conferencing Facility
- Food Court
- Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
- 1st Fl-Ste 101-A
- 3,185 SF
- Retail
- -
- 30 Days
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 101-A | 3,185 SF | Retail | - | 30 Days |
1st Fl-Ste 101-A
| Size |
| 3,185 SF |
| Space Use |
| Retail |
| Condition |
| - |
| Available |
| 30 Days |
PROPERTY TAXES
| Parcel Number | A-24-28-18-3EC-000000-00004.1 | Improvements Assessment | $15,196,480 CAD |
| Land Assessment | $9,248,198 CAD | Total Assessment | $24,444,679 CAD |
PROPERTY TAXES
Parcel Number
A-24-28-18-3EC-000000-00004.1
Land Assessment
$9,248,198 CAD
Improvements Assessment
$15,196,480 CAD
Total Assessment
$24,444,679 CAD
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9309 N Florida Ave
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