30.78 Acres in Tampa, FL - $29,500,000
Description: This is a waterfront property in a transitional area adjacent to the highly desirable Westshore residential section of Tampa.
The 31 acre site has open water exposure and views to the west and good access to Westshore Blvd., Gandy Blvd., and
the Leroy Selmon Crosstown Expressway. Currently in a very heavy industrial use area, the adjacent and close-by
properties were also formerly industrial or old apartments and were rezoned, razed, and developed (at different degrees)
during the 2001-2006 boom period. WCI developed and continues to build in the Westshore Yacht Club (corner of Tyson &
Westshore) while Newport at the corner of Gandy and Westhore was developed but fell to the lenders and bond holders.
The property, known as Peninsula Point is a short-term intended hold with income and a longer term conversion to over
1,100 residential units and potential mixed-use.
Location: ...
Location: 5301 & 5411 Tyson Ave., Tampa, FL situated on open waters of Tampa Bay between Gandy Blvd. and Sunshine Skyway.
Access: Westshore Blvd. to Tyson Ave. with close proximity to Gandy Blvd., Leroy Selmon Expressway and Dale Mabry
Highway.
Size: 30.87 acres, 1,344,698 square feet, 2,745 linear water frontage
Building Size: Marine industrial building with eight warehouses, office and storage totaling 132,666 sq. ft., 600 ton capacity Syncro lift
crane with four Rolls Royce engines with capacity to expand to 900 tons.
Zoning: IG and IH (Industrial General and Industrial Heavy) still govern industrial uses.
Land Use: CMU35 (Commercial Mixed Use, City of Tampa), high density residential and commercial but requires rezoning and
satisfaction of certain current use restrictions.
Tenants: Leases currently call for annual net income of approximately $1,155,198. Largest tenant is Cargill whose lease runs
through June 2017. Other tenants have buy-out clauses in their leases.
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