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Mixed-Use Plaza Sold In Tampa For $2.85 Million With Brokers Bobby Gross Darpan Patel Dan Yozwiak

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SOLD
$2,850,000

Florida

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Mixed-use13,720 SF
Sold 11/01/2024
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Property Image
SOLD

Mixed-Use Plaza Sold In Tampa For $2.85 Million With Brokers Bobby Gross Darpan Patel Dan Yozwiak

4332 West El Prado Boulevard

See Similar Deals
Mixed-use13,720 SF
Sold 11/01/2024
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Summary

FLORIDA
Asset Type:Mixed-use
Price Per Square Foot:$207
Total Square Footage:13,720 SF
Transaction Type:Sale

The property involved in this transaction is a mixed-use asset located at 4332 West El Prado Boulevard in Tampa. The sale price was $2,850,000, and the building encompasses a total square footage of 13,720. This multi-tenant center is fully occupied, featuring six retail suites on the first floor covering 7,613 square feet and 20 office suites on the second floor with 6,107 square feet. The property sits on a 0.47-acre corner lot, providing easy access and visibility to approximately 23,000 vehicles daily, positioned conveniently close to major arteries and downtown Tampa.

Summary of transaction details:

The transaction was facilitated by the Patel Yozwiak Group, representing a valued client in the deal with a local buyer. This closed sale represents 95% of the list price and underscores the effective brokerage efforts in bringing this property transaction to fruition.

Players

Darpan Patel
18 deals$57M volume(813) 387-4812
BROKER

Dan Yozwiak
Marcus & Millichap
16 deals$53.7M volume(614) 360-9036
BROKER

Bobby Gross
Marcus & Millichap
6 deals$17.5M volume(813) 387-4776
BROKER

Details

SOLD
IMAGE: Darpan Patel, Bobby Gross & Dan Yozwiak DATE: 11/01/2024 ADDRESS: 4332 West El Prado Boulevard MARKET: Tampa ASSET TYPE: Mixed-use BROKERS: Bobby Gross, Darpan Patel (@DP_cre_nnn) & Dan Yozwiak - Marcus & Millichap (@MarcusMillichapInc) SALE PRICE: $2,850,000 SF: 13,720 ~ PPSF: $207 NOTE FROM BROKER: The Patel Yozwiak Group just closed on a 13,720 SF Retail/Office Plaza in Tampa, FL. The transaction between their Valued Client and a Local Buyer closed at $2,850,000, 95% of the list price. The 100% occupied multi-tenant center hosts six retail suites on the first floor (7,613 SF) and 20 office suites on the second floor (6,107 SF). The 0.47-acre corner lot has easy access and exposure to 23,000 vehicles per day and is in proximity to major arteries and downtown Tampa.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$151,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,125.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,510.45
Annual Debt Service$162,125.45