re/max commercial tampa’s commercial real estate … · 2019-09-26 · estate located at 221...
TRANSCRIPT
TAMPA’S COMMERCIAL REAL ESTATE LEADER
RE/MAX COMMERCIAL
Broker: RE/MAX Action First
9530 W Linebaugh Ave
Tampa, FL 33626
CONFIDENTIAL OFFERING MEMORANDUM
221 & 225 E Brandon BlvdBrandon, FL 33511
TABLEOFCONTENTS
• Executive Summary
• Property Overview
• Location Overview
221 & 225 E Brandon Blvd
221 E Brandon Blvd is a 3732 gross sf/2892
heated sf retail location that is currently
available for lease or for sale. The building
was constructed in 1960, and was constructed
of concrete block/stucco with a shingle roof
225 E Brandon Blvd built in 1972 is available for
sale. It is 4121 gross sf/3690 heated sf retail
space that is available for sale in a joint
transaction with 221 E Brandon Blvd. The
building has been leased by Fox & Hounds Pub
since 1987. The current lease rate is
$6,000/month.
These properties have a combined 235 ft of
frontage on Brandon Blvd with 62,000 AADT.
ExecutiveSummary
Executive Summary
Opinion of Value:
Considerations Taken Into Account
1. Perfect location for owner-occupy and/or
investor.
2. Prime location with AADT 62,000
3. Pub has been in business since 1997.
Combined asking price = $1,450,000
The ProTech Team at RE/MAX is pleased to
provide the broker opinion of value for the real
estate located at 221 & 225 E Brandon Blvd,
Brandon FL 33511. This broker opinion of value
takes into account the parcel of land, it’s location,
and the current & potential income it generated.
Nearby comparables were obtained for sales
of other local retail buildings. We determine
that the highest and best use would as a
retail location. Based on these sales
comparables, we estimated the value of the
combined properties to be $1.5M.
We also estimated value based on pro-forma
market value lease rates of $16.50/sf for 221
E Brandon Blvd, and actual lease income of
$6000/mo for 225 E Brandon Blvd., which
produced a combined valuation of $1.534M.
PropertyOverview
Investment SummaryPROPERTY SUMMARY
Name Owner-Occupy or Investor
Address221 E Brandon Blvd
Brandon, FL 33511
Size (Sq. Ft.) 2892
Year Built/Renovated 1960
Ownership Fee Simple
PROPERTY SUMMARY
Name Investor
Address225 E Brandon Blvd
Brandon, FL 33511
Size (Sq. Ft.) 3690
Year Built/Renovated 1972
Ownership Fee Simple
LocationOverview
Location OverviewBrandon is a suburb of Tampa with a population of 113,124. Brandon is in Hillsborough County and is one of the best places to live in Florida. Living in Brandon offers residents a suburban feel and most residents own their homes. In Brandon there are a lot of parks. Many families and young professionals live in Brandon. The public schools in Brandon are above average.
LOCATION DEMOGRAPHICS
Population 113,124
Unemployment Rate
3.3%
Median Income 56,012
Median Home Price $202,500
Source: Bestplaces.net
TRAFFIC COUNTS
11
Palm Harbor SurgeryCenter
The Tampa Metropolitan Statistical Area (MSA) is inclusive of four counties: Hillsborough, Pinellas, Pasco and Hernando.
It is the second largest metropolitan area in Florida and the eighteenth largest metropolitan area in the United States with a population of over three million residents. Tampa has the highest rate of migration in the Eastern United States and third highest in the country according to a Bloomberg analysis. The Urban Land Institute in their yearly publication Emerging Trends in Real Estate United States and Canada 2019 named The Tampa MSA the tenth and second inoverall real estate and homebuilding prospectsrespectively.
BayCare Health Systems is largest health system and the second largest employer in the Tampa MSA, second to Publix Super Markets. AdventHealth currently operates one thousand two hundred and seventy-one hospital beds in seven hospitals throughout the Tampa MSA.
Tampa Metropolitan Statistical Area