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$ 14,600,000
Est. payment /mo
Active
1121 E TWIGGS ST Tampa, FL 33602
30,645 SqFt
UPDATED:
11/18/2024 10:29 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 30,645 sqft
Price per Sqft $476
Subdivision Interstate Investment Co
MLS Listing ID TB8310023
HOA Y/N No
Originating Board Stellar MLS
Year Built 1925
Annual Tax Amount $87,052
Lot Size 0.700 Acres
Acres 0.7
Property Description
Seize the opportunity to acquire a prime redevelopment site in Tampa’s Channel District. This assemblage consists of three adjacent parcels at 1121, 1125, and 1127 E. Twiggs St., totaling approximately 0.7049 acres. The 30,706 SqFt is the total square footage of the land. Zoned CD-1 (Channel District - Mixed Use) with a Current FAR of 7.0, the property offers flexibility for mixed-use commercial projects. Potential developments include office, retail, hospitality, and hotel ventures, making it an ideal asset for investors aiming to leverage Tampa’s rapid growth. Located next to Madison Street Park and Dog Park, this site offers adjacent green space and a prime position near top attractions like the Tampa Riverwalk, Amalie Arena, Sparkman Wharf, and the Florida Aquarium. Its proximity to the Tampa Convention Center, which hosts over 100 major events annually, amplifies its appeal for hotel and hospitality developments catering to business and leisure travelers. The Tampa Riverwalk, a major draw with over 1.2 million annual visitors, ensures foot traffic and visibility for retail and hospitality businesses. Initiatives such as the Riverwalk Attraction Pass, which saw 12,000 visitors redeem passes in 2023, further bolster the area’s vibrancy. The property benefits from excellent connectivity, with access to major roads such as Channelside Drive, FL-618 (The Selmon Expressway), I-275, and I-4. Public transit is available via the TECO Line Streetcar, linking downtown Tampa with Ybor City. Tampa International Airport, located just a short drive away, is undergoing a $2.5 billion expansion, positioning itself to handle up to 35 million passengers by 2037. The airport's growth enhances the potential for developments catering to both domestic and international travelers. Port Tampa Bay, Florida’s largest port, is located 0.3 miles from the property, handling over 36 million tons of cargo annually. This offers a logistical advantage for large-scale construction projects or businesses reliant on imported materials. Continued investment in the port's expansion will support Tampa’s commercial and industrial growth. Utility services at the site are robust, with power from Tampa Electric, water and sewer services from the City of Tampa, and internet from Spectrum and Frontier Communications, making the site fully equipped for various development possibilities. Tampa’s economy is booming, driven by industries like finance, technology, healthcare, and real estate. Major corporations such as Raymond James Financial, Bloomin’ Brands, and Moffitt Cancer Center are fueling the city’s rapid growth. This environment is attracting investment, with over $1 billion in taxable hotel revenue generated in Hillsborough County in 2023, a 4.82% increase from the previous year. Tourism plays a key role, with 26.7 million visitors contributing $8.5 billion annually and the world renowned beaches of St Pete and Clearwater less than 30 miles away. Tampa is also a top migration destination, with a net gain of 54,000 between July 2022 and July 2023. This influx, driven by affordable living and favorable business conditions, positions Tampa as one of the nation’s fastest-growing regions. With its prime location, flexible zoning, and proximity to key attractions and transportation hubs, this 0.7049-acre site offers exceptional potential for investors looking to shape the future of downtown Tampa.
Location
State FL
County Hillsborough
Community Interstate Investment Co
Zoning CD-1
Interior
Heating Central
Cooling Central Air
Exterior
Parking Features Parking Spaces - 6 to 12, Common
Community Features Activity Core/Center, Sidewalks
Utilities Available Electricity Available, Public
Building
Lot Description Central Business District, City Limits, Near Public Transit, Seaport, Sidewalk
Foundation Slab, Stem Wall
Lot Size Range 1/2 to less than 1
Sewer Private Sewer
Water Public
Structure Type Brick
New Construction false
Others
Ownership Other
Special Listing Condition None
© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Listed by ENGEL & VOLKERS TAMPA DOWNTOWN