Oak Grove Commons at University Redevelopment Site

Highlights:

• Total Size: 3.25± acres across four parcels
• Zoning: Multifamily-friendly area with development potential (buyer to verify)
• Location: Within close proximity to the University of South Florida, Busch Gardens, University Mall / RISE Innovation District, and major employment centers
• Accessibility: Quick access to I-275, I-75, and public transit routes
• Utilities: All utilities available and connected to the site
• Opportunity Zone: Located in a designated Opportunity Zone, offering potential capital gains tax incentives for qualified investments

Description:

Oak Grove Commons at University Redevelopment Site – 3.25± Acres in Prime North Tampa Location

Presenting a rare investment and redevelopment opportunity in the heart of North Tampa, this Redevelopment Site consists of four contiguous parcels, ideally situated within a designated Opportunity Zone, offering significant potential tax advantages for developers and investors.

Property Breakdown:
- Parcel 1 (Folio #035835-0100): ±0.45 acres, improved with a single-family home and a one-story duplex
- Parcel 2 (Folio #035835-0000): ±1.10 acres, improved with six existing duplexes
- Parcel 3 (Folio #035834-0000): ±0.46 acres, improved with a single-family home
- Parcel 4 (Folio #035832-0000): ±1.24 acres, improved with a single-family home

With utilities already in place and income-producing structures currently on-site, this property offers flexibility for both immediate cash flow and future redevelopment potential. The existing improvements could be reconfigured, upgraded, or fully redeveloped into a higher-density multifamily asset, capitalizing on the site's favorable zoning and growing demand for rental housing in the area.

This property is ideally suited for a developer seeking a mid-sized multifamily project, workforce housing, or a residential concept in one of Tampa’s most active redevelopment corridors. The combination of in-place infrastructure, current rental income, and long-term development upside makes this a compelling offering in a supply-constrained rental market.

Outstanding Multifamily Infill Redevelopment Opportunity in the Heart of North Tampa. Located in the thriving Azure Estates neighborhood, the Site presents a compelling opportunity for the redevelopment of a prime property in one of Tampa's most strategically positioned areas. This infill site is just minutes from major economic, educational, and recreational hubs, offering future residents an ideal balance of connectivity, convenience, and lifestyle. Consisting of four contiguous parcels in unincorporated Hillsborough County, it offers a compelling canvas for multifamily development. The property is ideally positioned within the rapidly growing USF/Moffitt corridor, a zone marked by strong residential demand, institutional expansion, and long-term upside.

Educational & Institutional Anchors
Sitting less than two miles from the University of South Florida (USF)—one of the largest public universities in the country with over 50,000 students and 16,000 employees—provides a steady demand for housing from students, faculty, and staff. The area is also served by Hillsborough County Public Schools, including nearby institutions like Mort Elementary School, Greco Middle School, and King High School, making it attractive for families. Additionally, the Moffitt Cancer Center, James A. Haley Veterans’ Hospital, and other USF-affiliated medical and research institutions offer high-quality healthcare and thousands of stable, high-paying jobs.

Retail, Dining & Entertainment
Residents will enjoy proximity to a diverse mix of retail and dining options, including University Mall, which is undergoing a transformative redevelopment into the RISE Innovation District, a new mixed-use research and technology hub. Popular national retailers, grocery stores, and restaurants are located within a short drive, while Busch Gardens Tampa Bay, Adventure Island, and the Museum of Science and Industry (MOSI) provide premier family entertainment just minutes away.

Transportation & Accessibility
The site benefits from exceptional connectivity via I-275, I-75, and Fowler Avenue, enabling easy access to Downtown Tampa, Tampa International Airport, and the Westshore Business District—home to over 4,000 businesses and major employers like Raymond James, Amgen, and PwC. Public transportation options, including HART bus lines, enhance accessibility for residents without personal vehicles.

Tampa’s Strong Growth & Quality of Life
As one of Florida's fastest-growing cities, Tampa boasts a robust economy, a favorable business climate, and a high quality of life. The surrounding area is seeing increased investment and redevelopment activity, supported by Tampa’s ongoing efforts to improve infrastructure, transit, and affordable housing.

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