502 S Magnolia Avenue, Tampa, FL 33606

$1,095,000
3,085
SqFt
List Price
$1,095,000
Status
Active
Days on Market
52
MLS#
T3236320
Property Style
Office
Year Built
1954
Living Area
3,085
Lot Size
14,232
Acres
0.33
Total Acreage
1/4 Acre to 21779 Sq. Ft.
Legal Subdivision Name
Packwood
MLS Area Major
Tampa / Davis Island/University of Tampa

Property Description

This 2,997 SF medical building sits on a rare 14,232 SF buildable corner lot located in the heart of Hyde Park, arguably one of the most sought after areas in Tampa. There is ample parking on site (22+ spaces) meeting the City of Tampa's medical parking requirement of 6 spaces per 1000 SF. The parcel is currently zoned RO-1 (Residential Office) with a 1.0 FAR and, as such, allows for a potential development based upon existing zoning of up to 14,232 SF of Residential or Office use, although parking requirements and overlay requirements may limit the maximum building envelope. The Future Land Use of RES-50 (Residential - 50 Units per acre) offers additional design and development possibilities for multi-family development. Currently, the site would offer a potential multi-family development of up to 13 units (40 du/ acre) without meeting bonus provisions for the 50 du / acre maximum density) assuming development meets the development guidelines and architectural review within the Hyde Park Historic District. The scarcity of office, medical, and residential availability in this high demand market allows this property to offer a unique opportunity to design to personal specs as one of the few developable parcels of land in this historic district. Located in the S. Hyde Park area of Tampa south of Kennedy Boulevard and the Selmon Expressway, offering easy access to all surrounding areas.

Additional Information

Taxes Annual
$12497
Community Features
No Deed Restriction
Zoning
RO-1
Air Conditioning
Central Air
Exterior Construction
Block
Foundation
Slab
Pool
No Pool
Garage Features
19 to 30 Spaces
Flood Zone Code
X
Parcel ID
A-24-29-18-4ZX-000010-00003.0
Legal Description
PACKWOODS LOTS 3 AND 4 BLOCK 10

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Listing courtesy of BAY STREET COMMERCIAL LLC.

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