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28.068268 -82.45358

701 E FLETCHER AVENUE Tampa, FL 33612

234791386 28.068268 -82.45358 2 /listing/234791386-150476626/701-e-fletcher-avenue-tampa-fl-33612 False 0 15250000 83465 101 U8039742 False
  • $15,250,000
  • 83,465 sqft
  • 3.44 lot
  • Est payment $81865.3/mo

Property Information

  1. 83,465 Sq. Ft.
  2. 3.44 Lot

Commercial in TAMPA

A rare investment back on the market! This unique building offers a cap rate unseen in today's market. Located immediately off of I-275, this prime location puts one right in the middle of everything! Less than two miles away from the University of South Florida, Moffitt Cancer Institute and the VA, The Palms Inn is comprised of a diverse population. Guests can also enjoy a short 30 minute drive to the beautiful area beaches and an hour drive to the newest happenings of Orlando.The Palms Inn, once under renovation, is now complete. New roof and re done rooms offer clean comfort to all guests.Purchase The Palms with cash and enjoy 12% cap rate, or purchase with a $5M down payment and use a bridge loan (9% interest; $9M finance; 3 year balloon) and yield a cash to cash investment cap rate of 18%!!! This gem of an investment, now with documented and verifiable income which will be released with an accepted contract won't last long! Contact us today!

Courtesy Of BUXTON PROPERTIES INC

Main Features

  • Listing Status: Active
  • Year Built: 1974
  • County: Hillsborough County
  • Taxes: $85,979.00
  • Tax Year: 2018
  • Zoning: CN
  • Subdivision: North Tampa Heights
  • MLS Number:U8039742

Additional Features

  • Cooling:
    • Wall/Window Unit(s)
  • Building Area Source:
    • Public Records
  • Business Type:
    • Hotel/Motel
  • Construction:
    • Concrete
  • Property Subtype:
    • Hotel/Motel
  • Acreage Range:
    • Two + to Five Acres
  • Flood Zone:
    • X
  • Number of Buildings:
    • 2
  • Road Frontage:
    • Interstate
  • Township:
    • 28
  • Legal Description:
    • NORTH TAMPA HEIGHTS LOT 2 LESS R/W FOR SR 93 & LOT 3 LESS S 30 FT & LESS R/W FOR SR 93 BLOCK 1
  • CDOM:
    • 333
  • Building Expenses:
    • 104583.00
  • Listing URL:
    • https://www.state27homes.com/search/listing/U8039742
  • Lot Size Acres:
    • 3.44
  • Lot Size Square Feet:
    • 149685
  • Parcel Number:
    • U-12-28-18-0TD-000001-00002.0
  • Tax Block:
    • 1
Neighborhood info courtesy of Homes.com © 2020

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.

Request More Info

28.068268 -82.45358

701 E FLETCHER AVENUE Tampa, FL 33612

234791386 28.068268 -82.45358 2 /listing/234791386-150476626/701-e-fletcher-avenue-tampa-fl-33612 False 0 15250000 83465 101 U8039742 False
  • $15,250,000
  • 83,465 sqft
  • 3.44 lot
  • Est payment $81865.3/mo