Prime Redevelopment Site In Sulphur Springs

NORTH NEBRASKA AVE REDEVELOPMENT ASSEMBLAGE — ±0.48 ACRE, CI ZONING, INCOME IN PLACE

Four contiguous, commercially zoned parcels at [hidden information] N Nebraska Ave assemble ±0.48 acre (±20,900 SF) and ±200 ft of continuous frontage into a single, development-ready site in Tampa’s Sulphur Springs district — corridor-fronting infill land that rarely trades in one piece this close to Downtown Tampa. All four folios are under single ownership and sold together: one contract, one closing. Two existing buildings totaling ±11,778 SF are configured as up to five rentable units with two currently leased, providing income in place to carry the site through design and entitlement.

A redevelopment and community-improvement opportunity on a City of Tampa priority corridor. The Sulphur Springs Neighborhood Action Plan (2025) guides new housing, walkability, and reinvestment, and mixed-use/residential projects are already rising nearby.

WHY IT WORKS FOR MULTIFAMILY / MIXED-USE

CI (Commercial Intensive) zoning on a transit corridor — the land-use base Florida’s Live Local Act rewards for residential density
Live Local Act pathway to by-right multifamily density and height (no rezoning) when 40%+ of units are affordable at 120% AMI or below
Missing Middle property-tax exemption — up to 100% ad valorem exemption on affordable units
LIHTC-eligible census tract; no Florida state income tax
Potential Florida Brownfield incentives (subject to environmental review)
Single ownership removes assemblage holdout risk

RIVERFRONT SETTING
Platted in 1904 as the original ”Sulphur Springs Addition to Tampa,” the neighborhood is anchored by the historic 214-ft Sulphur Springs Water Tower (1927). Just west toward the Hillsborough River: River Tower Park, Sulphur Springs Park (natural spring + spring-fed pool), and the Sulphur Springs Trail greenway, with ZooTampa at Lowry Park downstream — a built-in amenity base that supports rents and absorption.

TAMPA BAY GROWTH
One of the fastest-growing U. S. metros — 3.3M+ residents and a projected +397,000 by 2030, in a state with no personal income tax. Billions in capital are reshaping the core (Water Street Phase 2, Gasworx, Rome Yard, USF’s on-campus stadium), and North Nebraska Ave is positioned to absorb the spillover — minutes from Downtown Tampa (~5 mi), USF (~4 mi) and I-275, ~15 min to Tampa International Airport.

USE PATHWAY: Hillsborough County land use — Commercial. City of Tampa zoning — CI. Future Land Use — CMU-35 (confirm with City Planning). Residential/mixed-use achievable by right via the Live Local Act; recommended use: mid-rise mixed-income multifamily with ground-floor commercial. Final entitlements, unit yield, and incentive eligibility subject to verification with the City of Tampa and qualified counsel.