Marcus & Millichap Sells 7,648-SF Former Hops Restaurant in Tampa, FL

 

TAMPA, FL, April 12, 2010 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of  a 7,648-square former Hops Restaurant (top left photo) located in Tampa, FL, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The sales price of $515,000 represents $70 per square foot.

Paul Bouldin, (bottom right photo) senior investment specialist and Dan Wolf, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a Tampa-based financial institution.

The buyer, a limited liability company also based in Tampa, was secured and represented by Mike Modha, investment specialist in the firm’s Tampa office.

“This Former Hops Restaurant went dark several years ago, when the economy began to falter” says Wolf.

“The buyer is relocating his wholesale business to this new facility and expects his business to increase substantially when it opens in approximately 90 days. Part of the facility will be used for the sale of tobacco, cigarettes and cigars and the remaining 4,500 square foot is rented to Taste of India, an Indian restaurant” says Modha.

Built in 1986, this former Hops Restaurant is located at 1241 E. Fowler Avenue. The lot contains approximately 1.5854 acres and has ample surface parking. The property is across from the University Square Mall, Florida's largest enclosed mall and is approximately one mile west of the University of South Florida.

Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700