301 N Thomas St - Apartments FOR SALE


Plant City, FL 33563
$1,280,000 USD
813-871-8524
301 N Thomas St, Plant City, FL for Sale
$1,280,000 USD
Apartments - FOR SALE
1/14
null | 6.4% Cap Rate

301 N Thomas St
Plant City, FL 33563


HIGHLIGHTS

  • Concrete block
  • Value add opportunity
  • Off street parking
  • Ample space for additional community amenities

OVERVIEW

The Patriot Inn is a former hotel that has been converted to multifamily housing located in fast-growing Plant City, Florida. Conveniently located between Tampa and Lakeland along the I-4 corridor. Built in 1947, this 14-unit community sits on a 0.17-acre site next to City Hall along North Thomas Street right in the heart of historic downtown Plant City. The property offers ample off-street parking, on-street parking and greenspace for a future owner to implement community amenities. Units consist of fourteen studio units averaging 246 square feet. Each apartment is housed within a single, two-story, 1947 concrete block building. Plant City is a rapidly growing bedroom community located just 15 miles east of Tampa along the I-4 corridor. It is known as the “Strawberry Capital of the World’ and hosts the Strawberry Festival every year which is a top 20 event in the Southeastern U.S. attracting over 500,000 patrons and producing an 800 million economic impact for the local economy each year. The neighborhood surrounding Patriot Inn consists of government buildings, public library, churches, parks, shops, restaurants and entertainment. Plant City is one of only a handful of markets in the U.S. within 3 hours drive to more than 20 million people. Publix is headquartered in nearby Lakeland and companies such as Amazon, FedEx, UPS, Walmart, City Furniture, Ace Hardware and Home Depot all have a major presence in the area providing thousands of white-collar jobs.

FOR SALE DETAILS

PRICE

$1,280,000 USD

PRICE/SF

$333 USD /SF

# OF UNITS

14

PRICE/UNIT

$91,429

CAP RATE

6.4%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Patriot Inn

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,244 SF

ZONING

C-1

APN/PARCEL ID

P-29-28-22-5D9-000022-00004.0

ASK ABOUT THIS PROPERTY

Miles TombrinkColliersMore Info
813-871-8524

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Miles TombrinkColliersMore Info
813-871-8524

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.