|Gross Leasable Area (GLA)||12,920 Sq.Ft.|
|Price Per Square Foot (GLA)||$194|
|Lot Size||4.44 Acres|
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.
First Vice President Investments