Terrace Oaks Plaza – Tampa, FL

Terrace Oaks Plaza – Tampa, FL

Terrace Oaks Plaza – Tampa, FL
11301 North 56th Street
Tampa, FL 33617

$5,770,329

Cap Rate 8.5%
Gross Leasable Area (GLA) 40,659 Sq.Ft.
Price Per Square Foot (GLA) $141
Year Built 1986
Lot Size 4.43 Acres
  •  True Triple-Net Leases
  •  78 Percent of Plaza Has Been Leased to
  • Current Tenant for Eight Years or More
  •  209,000 Residents Within a Five Mile Radius
  •  Walking Distance to the University of South Florida
  •  Established Tenants, Many With Multiple Locations
  •  Annual Increases
  •  Replaceable Rental Rates
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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: Terrace Oaks Plaza – Tampa, 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.

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.

 

For More Information, Please Contact:

James Medefind

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