Riverview Belle Plaza II – Riverview, FL

Riverview Belle Plaza II – Riverview, FL

Riverview Belle Plaza II – Riverview, FL
10267 Big Ben Road
Riverview, FL 33578

$2,515,000

Cap Rate 8.75%
Gross Leasable Area (GLA) 12,920 Sq.Ft.
Price Per Square Foot (GLA) $194
Year Built 2006
Lot Size 4.44 Acres
  •  Suburban Tampa, Florida location
  • Close proximity to Sam's Club, Walgreens, Applebee's
  • 79,000 residents in a 5-mile radius
  • Exceptionally high population growth with 22% projected increase by 2016
  •  Located adjacent to St. Joseph's Hospital, currently under construction and due for 1st phase completion in Spring 2013
Agree Cancel

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: Riverview Belle Plaza II – Riverview, FL (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.

Riverview is included in the 2012 CNN/Money list of Best Small Cities in America.  The Property is anchored by Amscot Financial, which has been a tenant since initial construction in 2006.  Amscot Financial has seen explosive growth over the past 5 years and recently announced it’s continuing expansion into the South Florida market. Amscot currently has 124 locations throughout Florida.

Riverview Belle Plaza II is currently 89 percent occupied with a complimentary tenant mix that includes Mi Casa restaurant, which offers traditional indoor and substantial outdoor seating. The Property is well-parked with a parking ratio of 6.11 spaces per 1,000 feet of GLA.

The center is surrounded by national retailers including Sam’s Club, Walgreens, Publix, Applebee’s, Firestone, Ace Hardware, Sonic and Chase Bank.

Riverview Belle Plaza II is adjacent to the new St. Joseph’s Hospital that began construction in October 2012 and is scheduled for Phase I completion of the first 40,000 square feet in the spring of 2013 and for the remaining 312,000 square feet to be completed in 2015. The new St. Joseph’s South will serve Riverview, Gibsonton, Apollo Beach, Ruskin, Sun City Center, Wimauma, Lithia, Valrico, Brandon and southeast Tampa.

The Property is accessible from two entrances on Big Bend Road, an east.west arterial with an estimated traffic count of over 25,000 vehicles per day. Riverview’s suburban Tampa location is home to a multitude of planned communities, many with new homes currently under construction. There are over 79,000 residents within a 5-mile radius and an average household income of $66,000 immediately surrounding the Property.

This asset is offered for $2,515,000 which equates to a 8.75 percent capitalization rate on year 1 income. The property is offered free and clear of existing debt.

 

For More Information, Please Contact:

James Medefind

First Vice President Investments
813-387-4788
james.Medefind@marcusmillichap.com