3 Acres RIO MANOR Land
$7,200,000
5927-5931 N. Rome Avenue, Tampa, Florida 33604
| Land Size | 3 Acres |
| Zoning | RM-35 |
| Water | yes |
| Sewer | YES |
| Electric | YES |
RIO MANOR LAND,
Currenttly the 3 acre site has 20 ONE BED apts, fully leased, and there is additional acreage for up to 90+ units. Best use of site is to remove existing 20 units and redevelop site to full 90+ unit potential. Current zoning is RM-35. City of Tampa has recommended increase to RM-50, 120 unit potential, 120 Max Heigth Allowance.
There is Hillsborough River frontage of 80 ft with Concrete Sea Wall. Waterfront will allow superior tenant amenity package with boating activities...with premium rents.
Using current market rents, a 2026 Proforma was prepared to ID potential Income and also the estimated Value of a Built out project.
NOI is at :$2,077,130; Value of Built out Project:$28,800,000.
Contact Broker for details.
The information contained herein is from sources deemed reliable, but is subject to errors, omissions, and withdrawal without notice.