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Randy Hassen Of McKibbon Hospitality Acquires Development Site In Tampa For $9.3M

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SOLD
$9,300,000

Florida

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Development Site
Sold 03/27/2025
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Property Image
SOLD

Randy Hassen Of McKibbon Hospitality Acquires Development Site In Tampa For $9.3M

111 North Meridian Avenue

See Similar Deals
Development Site
Sold 03/27/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:Development Site
Transaction Type:Sale

A 0.74-acre development site located at 111 North Meridian Avenue in Tampa's Channel district has been sold for $9,300,000. The site is intended for the construction of a 13-story hotel with over 200 rooms and 13,000 square feet of retail space. Previously designated for self-storage, this site will become the district’s second hotel, responding to the increasing multifamily development in the area.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $9,300,000
  • Buyer: Randy Hassen - McKibbon Hospitality
  • Seller: Channelside Self Storage LLC
  • Market: Tampa
  • Size: 0.74 acres

The transaction was facilitated by Randy Hassen, representing McKibbon Hospitality, which specializes in hotel development. Channelside Self Storage LLC acted as the seller in this deal.

Details

SOLD
IMAGE: Randy Hassen DATE: 03/27/2025 ADDRESS: 111 North Meridian Avenue MARKET: Tampa ASSET TYPE: Development Site ~ ACRES: 0.74 BUYER: Randy Hassen - McKibbon Hospitality (@McKibbonHospitality) SELLER: Channelside Self Storage LLC SALE PRICE: $9,300,000 NOTE: McKibbon Hospitality bought a 0.74-acre site in Tampa’s Channel district for $9.3M, with plans for a 13-story hotel featuring over 200 rooms and 13,000 square feet of retail. The site, originally slated for self-storage, will be the district’s second hotel, driven by growing multifamily development.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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