701 E Fletcher Avenue

    Tampa, FL 33612
    • $15,250,000
    • STATUS: Active
    • ON SITE: 204 days
    • MLS #: U8039742
    UPDATED: 21 min ago
    $15,250,000
    • 0
      BEDS
    • 3.44
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 83,465
      SQFT
    • $183
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1974
    County:

    School Ratings & Info

    Description

    A rare investment back on the market! This unique building offers a cap rate unseen in todays market. Located immediately off of I-275, this prime location puts one right in the middle of everything! Less than two miles away from the University of South Florida, Moffitt Cancer Institute and the VA, The Palms Inn is comprised of a diverse population. Guests can also enjoy a short 30 minute drive to the beautiful area beaches and an hour drive to the newest happenings of Orlando.The Palms Inn, once under renovation, is now complete. New roof and re done rooms offer clean comfort to all guests.Purchase The Palms with cash and enjoy 12% cap rate, or purchase with a $5M down payment and use a bridge loan (9% interest; $9M finance; 3 year balloon) and yield a cash to cash investment cap rate of 18%!!! This gem of an investment, now with documented and verifiable income which will be released with an accepted contract wont last long! Contact us today!

    Monthly Payment Calculator




    © 2019 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2019-10-18T15:42:21.43.
    www.theduncanduo.com/homes/93093644

    701 E Fletcher Avenue Tampa, FL 33612

    • Price: $15,250,000
    • Status: Active
    • Updated: 21 min ago
    • MLS #: U8039742
    0
    Beds
    0
    Baths
    0
    ½ Baths
    3.44
    Acres
    83,465
    SQFT
    $183
    $/SQFT
    1974
    Built
    Neighborhood:
    North Tampa Heights
    County:
    Hillsborough
    Area:
    Tampa / Forest Hills
    Property Description
    A rare investment back on the market! This unique building offers a cap rate unseen in todays market. Located immediately off of I-275, this prime location puts one right in the middle of everything! Less than two miles away from the University of South Florida, Moffitt Cancer Institute and the VA, The Palms Inn is comprised of a diverse population. Guests can also enjoy a short 30 minute drive to the beautiful area beaches and an hour drive to the newest happenings of Orlando.The Palms Inn, once under renovation, is now complete. New roof and re done rooms offer clean comfort to all guests.Purchase The Palms with cash and enjoy 12% cap rate, or purchase with a $5M down payment and use a bridge loan (9% interest; $9M finance; 3 year balloon) and yield a cash to cash investment cap rate of 18%!!! This gem of an investment, now with documented and verifiable income which will be released with an accepted contract wont last long! Contact us today!
    Exterior Features

    Construction Materials Concrete Water Access Yn No Water Extras Yn No Waterfront Feet Total 0 Waterfront Yn No

    Interior Features

    Cooling Wall/Window Unit(S)

    Property Features

    Additional Parcels Yn No Business Type Hotel/Motel Flood Zone Code X New Construction Yn No Property Sub Type Hotel/Motel Special Listing Conditions None Tax Annual Amount 85979.00 Tax Year 2018 Total Num Buildings 2 Zoning Cn


    Listing information © 2019 My Florida Regional MLS DBA Stellar MLS..
    Listing provided courtesy of Buxton Properties Inc.



    © 2019 My Florida Regional MLS DBA Stellar MLS. All rights reserved. All listings displayed pursuant to IDX. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided for consumers personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Data last updated 2019-10-18T15:42:21.43.
     
    The Duncan Duo Team
    6320 S Dale Mabry Hwy
    Tampa FL, 33611