701 Fletcher Avenue, TAMPA, FL 33612
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A rare investment back on the market! This unique building offers a cap rate unseen in todays 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 wont last long! Contact us today!
- Street Address: 701 Fletcher Avenue
- Viewed: 825
- Price: $15,250,000
- Price sqft: $183
- Waterfront: No
- Year Built: 1974
- Bldg sqft: 83465
- Days On Market: 307
MLS#: U8039742 ( Commercial )
- Geolocation: 28.0683 / -82.4536
- County: HILLSBOROUGH
- City: TAMPA
- Zipcode: 33612
- Subdivision: North Tampa Heights
- Provided by: BUXTON PROPERTIES INC
- Principal & Interest -
- Property Tax $
- Home Insurance $
- HOA Fees $
- Monthly -
Building and Construction
- Living Area: 83465.00
- Cooling: Wall/Window Unit(s)
Finance and Tax Information
- Home Owners Association Fee Includes: 0.00
- Home Owners Association Fee: 0.00
- Tax Year: 2018
- Country: US
- Flood Zone Panel: 12057C0204H
- Parcel Number: U-12-28-18-0TD-000001-00002.0
- Postal Code + 4: 2611
- Representation: Seller Represented
- Views: 825
- Zoning: CN