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

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SOLD
$12,600,000

Florida

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Retail57,093 SF
Sold 10/02/2024
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Property Image
SOLD

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

2301 East Fowler Avenue

See Similar Deals
Retail57,093 SF
Sold 10/02/2024
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Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$220
Total Square Footage:57,093 SF
Transaction Type:Sale

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
6 deals$83.6M volume(813) 220-5342
BROKER

Jeff Berkezchuk
Plaza Advisors
5 deals$61.6M volume(813) 892-7817
BROKER

Details

SOLD
IMAGE: Jeff Berkezchuk & Jim Michalak DATE: 10/02/2024 ADDRESS: 2301 East Fowler Avenue MARKET: Tampa ASSET TYPE: Retail SELLER: SJS Realty Management BROKERS: Jeff Berkezchuk (@_JeffBerk_) & Jim Michalak - Plaza Advisors SALE PRICE: $12,600,000 SF: 57,093 ~ PPSF: $221 NOTE: Plaza Advisors facilitated the $12.6 million sale of Fowler Plaza South, a 57,093-square-foot shopping center in Tampa that was 97% leased to tenants like Dollar General, Champs Sports, and AT&T. Located near the University of South Florida and across from the Rithm redevelopment project, the transaction was represented by Jim Michalak and Jeff Berkezchuk, with the buyer's identity remaining undisclosed.

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

$672,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
Annual Debt Service$716,765.14