Olympia Plaza

Olympia Plaza

Olympia Plaza
3730 Tampa Rd
Oldsmar, Florida 34677

$2,600,000

Cap Rate 7.51%
Gross Leasable Area (GLA) 11,880 Sq.Ft.
Price Per Square Foot (GLA) $219
Year Built 2006
Lot Size 1.25 Acres
  • Value-Add Shopping Center with 89.90 Percent Occupancy
  • Amscot Anchor has Five Years Remaining on the Current Lease
  • Average Household Income Over $83,000 in a Five Mile Radius
  • Dense Tampa Suburb with Over 165,000 People in a Five Mile Radius
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Olympia Plaza (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is please to offer for sale Olympia Plaza, an 11,880 square foot shopping center located in Oldsmar, Florida, an affluent Tampa suburb located only 25 minutes from the Tampa International Airport and the Westshore Business District. Olympia Plaza offers investors an opportunity to acquire a low management asset that is free and clear of existing debt. In addition to the stability of the attractive tenant base on staggered leases, an investor also has significant upside in leasing vacant space.

For just $780,000, a 70 percent LTV, an investor can secure this value-add strip center with about 10 percent vacancy. After leasing up the vacant space, the property has the potential to yield over a 10 percent cash-on-cash return.

The city of Oldsmar is attractive to Tampa Bay residents looking to be in close proximity to local attractions and employment centers, while still enjoying the family friendly benefits of living in the suburbs. The subject property is surrounded be well-known retail tenants such as Dunkin Donuts, Chick-Fil-A, Chili’s, Walgreens, Thornton’s, CVS, Advanced Auto Parts, Steak ‘n shake, Jersey Mike’s, Domino’s, 7-Eleven, Verizon Wireless, KFC, Panera Bread, Office Depot, Ross, Bealls, Ruby Tuesday, Marshalls and Dollar Tree among others. The average household income within a five mile radius of Olympia Plaza is over $83,000 per year compared to the national average of approximately $54,159 per year.

 

For More Information, Please Contact:

James Medefind

First Vice President Investments
(813) 387-4788
James.Medefind@marcusmillichap.com