Bay Lake Center 13907 N Dale Mabry 17,695 SF 92% Leased Office Building Tampa, FL 33618 $2,950,000 ($166.71/SF) 6.53% Cap Rate
INVESTMENT HIGHLIGHTS
- Bay Lake Center is 87.1% occupied by nine office and service tenants
- Many of the tenants have relocation clauses in their lease which allows an Owner/User to relocate tenants to occupy space themselves
- The asset is located in the Carrollwood Office Corridor, a mature middle to upper income submarket of Tampa with a strong demand for suburban offices
- Eight of the nine tenants have base year stops providing the owner with protection from expense increases
- Five of the nine tenants have lease expirations within the next three years with below market rents
- The surrounding office submarket has very low vacancy rates and investment opportunities along Dale Mabry rarely become available
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
17,695 SF
Building Class
C
Year Built
1980
Price
$2,950,000
Price Per SF
$166.71
Cap Rate
6.53%
NOI
$192,624
Percent Leased
92%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
702 SF
Slab To Slab
12’
Building FAR
0.32
Lot Size
1.25 AC
Zoning
BP-O, County - Business-Professional Office (BPO)
Parking
55 Spaces (3.11 Spaces per 1,000 SF Leased)
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
- 2nd Fl-Ste 212
- 1,401 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 212 | 1,401 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 212
| Size |
| 1,401 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
1 of 1
PROPERTY TAXES
| Parcel Number | U-04-28-18-0UP-000000-00005.0 | Improvements Assessment | $160,807 |
| Land Assessment | $1,503,193 | Total Assessment | $1,664,000 |
