Riverview Station Riverview,Florida

$8,000,000
Property type:Multi-Tenant / Shopping Center

The space

  • Price: $8,000,000
  • Net Operating Income: $443,007
  • Rentable Square Feet: 8,400
  • Lot Size: 2.57 Acres (111,949 SF)
  • Year Built: 2017
  • # of Suites: 6

Description

10165 Big Bend Road,
Riverview, Florida 33578

Investment Highlights

  • Brand New 8,400-Square-Foot Shopping Center That is 100 Percent Leased
  • Located on Big Bend Road Which Benefits from over 41,000 Vehicles per Day
  • Located in Southeast Hillsborough County – the Fastest Growing Submarket of Tampa Bay MSA
  • Internet Resistant Mix of Nationally Branded Restaurants and Service Based Tenants
  • Average Household Income of $75,784 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale this Riverview Station, a brand new 8,400-square-foot shopping center located in Tampa Bay MSA. The subject property is 100 percent leased with national and regional retail tenants including Orange Theory Fitness, Pizza Hut, Little Greek, Jersey Mikes Subs, Sports Clips and Thorntons is on a long-term NNN Ground Lease with more than 12 years remaining on their lease. The remaining tenants are signed to long-term leases and NNN lease structures positioning an investor a very low management, stable income stream for many years.

Uniquely positioned within southeastern Hillsborough County and just East of the exit/entrance of Interstate 75, the subject property sees substantial traffic and exposure to commuters going to and from work in Tampa, Brandon and Saint Petersburg. Southeastern Hillsborough County has seen explosive growth over the last 10 years with the population increasing by more than 50 percent. With over 5,000 residential homes under development, and more on the horizon, southeastern Hillsborough and the area immediately surrounding Riverview Station is expected to see above average rent growth and demand in the near future.

Riverview Station is situated between Bradenton and Tampa. Downtown Tampa, which is only 15 miles away, is undergoing a $3 billion expansion. The development in downtown Tampa known as Water Street, is expected to bring in several hundred thousand residents to the Tampa Bay market over the next decade and generate additional demand to the tenants at Riverview Plaza.

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