This West Tampa Mixed Use Development Site consists of two platted CN (Commercial Neighborhood) zoned lots located directly on N. Armenia Avenue just blocks from Interstate 275 at the intersection of Pine and Armenia. Totaling 9, 880 SF, this fully fenced lot sits just across from the boundary of the West Tampa CRA (Community Redevelopment Area) which has seen rapid recent transformation, roadway and facade improvements, new business growth and improved mobility due to millions of dollars in grants available to municipalities, business and residents alike. The Future Land Use is Community Commercial 35 (2. 0 FAR) meaning the property could be eligible for a mixed use (multi-story) structure of up 19, 760 SF and a total of 6 units or possibly an increased density by implementation of the Live Local Act for affordable housing.
* All quoted development calculations based upon Future Land Use maximums are are subject to municipal site plan approval. Seller and Broker make no representations as to any entitlements of development rights.
Located in Tampa just north of I-275, offering easy access to surrounding areas.
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$349,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $279,200 | $279,200 | $279,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.875% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.477% | 7.055% | 6.256% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,858 | $1,834 | $2,355 |
Total Monthly Payment | $1,933 | $1,909 | $2,430 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.