If you need assistance, please call 850-225-7000

Jay Shakir
850-585-7045
701 E Fletcher Ave, Tampa, FL 33612
0 Beds
0 Baths
83,465 sqft

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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!
  • Price:
  • $15,250,000
  • Square Footage:
  • 83,465
  • Acreage:
  • 3.44
  • Year Built:
  • 1974
  • Listing ID #:
  • U8039742
  • Street Address:
  • 701 E Fletcher Ave
  • City:
  • Tampa
  • State:
  • Florida
  • Postal Code:
  • 33612
  • County:
  • Hillsborough
  • Community:
  • 33612 - Tampa / Forest Hills
  • Subdivision:
  • North Tampa Heights
  • Listing Status:
  • Active
  • Construction Description:
  • Concrete
  • Square Footage Source:
  • Public Records
  • Total Building Square Footage:
  • 83465
  • Year Built:
  • 1974
  • Business Type:
  • Hotel/Motel
  • Conforms To Zoning:
  • Cn
  • Lot Square Footage:
  • 149685
  • Road Frontage Type:
  • Interstate
  • Days On Market:
  • 167
  • Property Taxes:
  • $85,979
  • Tax Year:
  • 2018
  • Cooling System:
  • Wall/Window Unit(s)
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By Buxton Properties Inc
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