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2301 East Fowler Avenue

SJS Realty Management Sells Fowler Plaza South Shopping Center In Tampa For $12.6M
SOLDRetail

SJS Realty Management Sells Fowler Plaza South Shopping Center In Tampa For $12.6M

2301 East Fowler Avenue

$12,600,000

$220/SF

Building Size

57,093 SF

Asset Type

Retail

Closing

Oct 2, 2024

AI

A retail property located at 2301 East Fowler Avenue in Tampa has been sold for $12,600,000. The 57,093-square-foot shopping center, known as Fowler Plaza South, was 97% leased to tenants including Dollar General, Champs Sports, and AT&T.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $12,600,000
  • Square Footage: 57,093
  • Price Per Square Foot: $221
  • Seller: SJS Realty Management
  • Brokers: Jeff Berkezchuk & Jim Michalak - Plaza Advisors
  • Date of Transaction: 10/02/2024
  • Market: Tampa

The transaction for Fowler Plaza South was facilitated by Plaza Advisors, with Jim Michalak and Jeff Berkezchuk representing the interests in the sale. The identity of the buyer has not been disclosed, and the property is strategically located near the University of South Florida and across from the Rithm redevelopment project.

Players

Jim Michalak

Plaza Advisors

Broker

$83.6M

vol

6 deals

Broker

Tampa Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.26%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93