|Gross Leasable Area (GLA)||40,659 Sq.Ft.|
|Price Per Square Foot (GLA)||$141|
|Lot Size||4.43 Acres|
Marcus & Millichap is pleased to exclusively market the sale of Terrace Oaks Plaza in Tampa, Florida. The property is located near the corner of Fowler Avenue and 56th Street North, which is within walking distance of the University of South Florida. Other nearby attractions include Busch Gardens Tampa Bay, Adventure Island, Museum of Science and Industry (MOSI) and the Sun Dome.
This is a rare opportunity for an investor to purchase a fully stabilized shopping center near the University of South Florida, which is one of the nation’s largest universities. In addition to the large student population near this shopping center, the property enjoys over 209,000 residents within a five-mile radius. Approximately 40,000 cars per day pass in front of the plaza.
78 percent of the leased space has been occupied by the current tenant for more than eight years, which demonstrates the sustainability of the income and the quality location of this asset. Attractive financing is available for this property which will provide an investor with an 13.48 percent cash–on-cash return.
First Vice President Investments