Blakeley & Associates Realty

4802 Lena Rd.  #103

Lakewood Ranch, FL 34211

Serving Florida's
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Sarasota/Bradenton & Surrounding Areas
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701 E FLETCHER AVENUETampa, FL 33612 0

$13,900,000
Commercial
Status: Active
  • Sqft:83,465
  • Lot:3.44 acres
  • MLS#: U8039742
28.068267822265625-82.453582763671875
Courtesy Of BUXTON PROPERTIES INC

Description:

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 15.6% 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 27.3%!!! 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!

Main Features:

Listing Status Active Year Built 1974
County Hillsborough Taxes $85,979.00
Tax Year 2018 Rental Price $0
Zoning CN Subdivision North Tampa Heights

Additional Features:

Acreage Range Two + to Five Acres
Building Area Source Public Records
Business Type Hotel/Motel
Construction Concrete
Cooling Wall/Window Unit(s)
Property Subtype Hotel/Motel
Road Frontage Interstate

Extra Features:

Building Expenses 104583.00 CDOM 24
Flood Zone X 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
Listing URL https://www.state27homes.com/search/listing/U8039742 Lot Size Acres 3.44
Lot Size Square Feet 149685 Number of Buildings 2
Parcel Number U-12-28-18-0TD-000001-00002.0 Tax Block 1
Township 28

Listing information courtesy of My Florida Regional MLS. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.
Information deemed reliable but not guaranteed.
Copyright© 2019 My Florida Regional MLS. All Rights Reserved.
Last Updated On: 4/20/2019 11:39:26 PM

701 E FLETCHER AVENUE, Tampa, FL 33612

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Listing information courtesy of My Florida Regional MLS. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law.
Information deemed reliable but not guaranteed.
Copyright© 2019 My Florida Regional MLS. All Rights Reserved.
Last Updated On: 4/20/2019 11:39:26 PM

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Blakeley & Associates Realty

4802 Lena Rd.  #103Lakewood RanchFL34211
Business:(941) 567-3100
Fax:(941) 567-3101

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