Shoppes of South Dale

Shoppes of South Dale

Shoppes of South Dale
4027 South Dale Mabry Highway
Tampa, FL 33611

$11,800,000

Cap Rate 6.75%
Gross Leasable Area (GLA) 34,100 Sq.Ft.
Price Per Square Foot (GLA) $370
Year Built 2016
Lot Size 3.11 Acres
  • Brand New Construction - Built in 2016
  • National Brand Tenants Include Crunch Fitness, Pizza Hut, Tijuana Flats, Smashburger, Hair Cuttery, Another Broken Egg Cafe, Wells Fargo ATM and Others
  • Over 96 Percent of GLA is Occupied by Service Oriented Tenants, Making This Center Immune to the Threat of Ecommerce
  • Located on South Dale Mabry Highway With a Daily Traffic Count of Approximately 34,000 Vehicles
  • Within Close Proximity to Selmon Expressway With a Daily Traffic Count of More Than 46,000 Vehicles
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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: Shoppes of South Dale (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 pleased to exclusively represent the sale of Shoppes of South Dale, a brand new 34,100-square foot shopping center located in Tampa, Florida. Shoppes of South Dale is located across the street from a Publix anchored shopping center in the city’s most affluent submarket – South Tampa. With 100 percent occupancy and complimentary mix of long term tenants, Shoppes of South Dale is an opportunity for an investor to purchase a brand new asset in a dense retail submarket yielding long-term, stable cash flow.

South Tampa is experiencing rapid development with several retail centers scheduled to break ground over the next 12 to 18 months. Rents for new retail centers are reported to be more than $45 per square foot, triple-net.

Shoppes of South Dale’s average rent is currently only $31.88 per square foot, triple-net. With such a strong rental rate in South Tampa, a new investor can expect to increase cash flow when leases expire.

Located on South Dale Mabry Highway, Shoppes of South Dale experiences an average daily traffic count of more than 34,000 vehicles per day. The center lies in close proximity to many national retailers including Wal-Mart, Macy’s, Winn-Dixie, The Home Depot, Sam’s Club, CVS, Publix, Target, Lowe’s, Pet Supermarket, Big Lots, Dollar Tree, Stein Mart, Marshall’s, Michael’s and Burlington Coat factory.

Shoppes of South Dale benefits from its close proximity to the Westshore business district with more than 93,000 employees and 12.75 million square feet of office space. The daytime density ideally positions the property for heavy lunchtime traffic. With a full-time population of more than 141,000 people within a five-mile radius, Shoppes of South Dale is a wellrounded location with consistent demand not only from daytime traffic, but local residents as well.

Tampa Bay is currently experiencing rapid growth, including a $3 billion redevelopment underway in downtown Tampa which is only three miles from this property. Bungalows from the mid-twentieth century are being redeveloped in to million dollar mansions and more than 2,000 brand new apartments have been developed in the immediate vicinity over the last 24 months. More than 4,000 additional apartment units with rents averaging more than $1.70 per square foot are reportedly in pre development throughout the South Tampa submarket.

For More Information, Please Contact:

James Medefind

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