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PRICE$13,900,000 dsIDX morgage calculator
SIZE 83,465 sq ft
LOT SIZE 3.44 ac

A rare investment back on the market! This unique building offers a cap rate unseen in today’s 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 15.6% 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 27.3%!!! This gem of an investment, now with documented and verifiable income which will be released with an accepted contract won’t last long! Contact us today!

DAYS ON MARKET 56 LAST UPDATED 3/27/2019
TRACT NORTH TAMPA HEIGHTS YEAR BUILT 1974
COMMUNITY 33612 - Tampa / Forest Hills COUNTY Hillsborough
STATUS Active PROPERTY TYPE(S) Commercial


ADDITIONAL DETAILS
AIRWall/Window Unit(s)
AIR CONDITIONINGYes
AREA33612 - Tampa / Forest Hills
CONSTRUCTIONConcrete
LOT3.44 acre(s)
STYLEHotel/Motel
SUBDIVISIONNORTH TAMPA HEIGHTS
TAXES$85979.00
ZONINGCN
MORTGAGE CALCULATOR
   

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CONTACT US ABOUT 701 E FLETCHER AVENUE
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Listed with BUXTON PROPERTIES INC
Copyright © 2019 Mid Florida MLS. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of Mid Florida MLS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Stockworth Realty Group participates in the MFRMLS Internet Data Exchange (IDX) program, allowing display of other MFRMLS broker’s listings on this site. However, www.stockworth.com may not include all listings currently available. Information is deemed reliable but not guaranteed. Information last updated on 5/22/19 8:00 AM PDT.

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