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Consideration of location as a way to look at prime commercial real estate investments is essential to the profitability and long term value. Commercial property investors seeking high traffic areas not far from prime destinations, like Zoo Tampa, have unique and lucrative sites to choose from. Tampa has actually become quite a thriving metropolitan city which has grown into a thriving hub for the development of real estate.
To understand why commercial properties around Zoo Tampa make such a smart investment, this article takes a look at what types of commercial properties do best in this area, who leases, how commercial properties are appraised, current market trends and income potential. From a seasoned investor to first time property venture, let’s take a look at some of the many golden opportunities when it comes to properties located near Zoo Tampa.
Why Invest Near Zoo Tampa?
Zoo Tampa, also known as ZooTampa at Lowry Park, is one of the region’s most beloved attractions, drawing over a million visitors annually. This high volume of foot and vehicular traffic makes the surrounding area highly desirable for commercial enterprises.
Strategic Advantages of Investing Near Zoo Tampa
- Steady Flow of Foot Traffic
Zoo Tampa is attracted by predictable daily traffic that is most intense on weekends and holidays. This also means that businesses sited nearby (retail shops, restaurants and entertainment venues) should be well placed to cash in on the visitor influx. But even during the off season, customers and daily commuters remain on the move in the area.
- Family-Oriented Destination
When people think Zoo Tampa they are not immediately thinking of adult interests, they are thinking family friendly outlets. Commercial properties that suit this demographic work as they are smartphones, or anything else from toy stores and ice cream parlors to convenient dining options, as investors can tailor them to bring out this demographic.
- Tourism-Driven Economy
Tampa’s local economy is heavily supported with tourism playing a leading role. Beyond Zoo Tampa, Busch Gardens, downtown Tampa, and Tampa’s Riverwalk are drawing millions of visitors each year. It means that for investors, this translates into sustained relevance and potentially better revenue potential.
Rising Real Estate Market in Tampa
It has been one of the most attractive reasons for investing near Zoo Tampa due to the continuous growth of Tampa real estate market as a whole. A strong job market, relatively cheap living costs compared to other major cities and a vibrant lifestyle offering means the city still draws businesses, professionals and families to it. With rising demand and upward property value trends properties near major attractions such as Zoo Tampa are appearing as a smart addition to any investment portfolio.
Types of Commercial Properties to Consider Near Zoo Tampa
If you’re going to make your investment count, you need to know which types of commercial property do the best business around a high-traffic zone like the area around Zoo Tampa. So let’s break down some of the most profitable property types.
Retail Spaces
Often the commercial property near attractions that is in high demand includes retail premises, for instance, Zoo Tampa. This ranges from tourist-trinket shops to fashion boutiques and accessible grocery stores.
Why Retail Works Here
Zoo Tampa consumers can be impulse buyers or hurried visitors with children who require instant products such as drinks, sunblock, or souvenirs. Retail spaces also have the ability to differentiate by stocking unique products that are hard to find elsewhere or by presenting products in a curated manner.
Examples
Stores selling souvenirs to visitors.
Small toy shops focused on children’s items.
Sustainable clothing shops offering eco-friendly products that align with the zoo’s conservation message.
2. Food and Beverage Places
Cuisine services are a massive draw for both locals and tourists. Areas around attractions like Zoo Tampa have steady customer demand for restaurants, cafes, and snack bars.
Key Opportunities:
Fast-casual pizza and sandwich restaurants, wildlife or adventure-themed dining experiences, and cozy coffee shops are among the most attractive concepts in this segment.
Competitor Examples:
Just a short drive from Zoo Tampa, establishments like Ulele demonstrate how unique offerings can attract high patronage.
Potential Gaps:
While this vibrant market thrives, there is ample space for health-conscious food bars, craft breweries, and trendy dessert shops to cater to emerging niche demands.
3. Hospitality Properties
Tampa is a renowned tourist destination, making boutique hotels and short-term rentals incredibly lucrative in this region.
Why Hospitality Investments Succeed:
Visitors to Zoo Tampa and nearby attractions often stay in the area because they travel from out of town. Many are willing to pay a premium for convenience, luxury, or unique experiences. Boutique hotels or themed Airbnb homes are ideal for this demand.
Emerging Trends:
Eco-friendly accommodations and pet-friendly lodgings are emerging as key differentiators in the hospitality sector.
4. Special Places for Children’s Entertainment
Since Zoo Tampa primarily caters to families, businesses designed for children’s entertainment are excellent investments.
Suggestions:
Indoor play centers, miniature golf courses, and day camp services have high potential, especially when they are convenient and affordable for families visiting the zoo.
5. Office Spaces
Though unconventional, office spaces near Zoo Tampa can be highly profitable, particularly coworking offices or spaces for businesses tied to tourism and events.
Potential Users:
- Travel agencies.
- Startups developing tourism-related technology or applications.
- Creative studios targeting local businesses.
Leasing Opportunities and Rental Income Potential
Leasing commercial properties near Zoo Tampa are an incredible opportunity for investors, who are looking to generate consistent income. The area attracts potential tenants due to it being high foot traffic and has a diverse customer base.
Home to Thriving Tenants
Always looking for great leasing opportunities is businesses such as local boutiques, food trucks, and even chain restaurants. A good visibility and parking as well maintained property can get competitive lease rates and can attract good tenants to enjoy from an optimum location.
Factors That Influence Lease Agreements
- Proximity to the Zoo
Those immediate adjacent to Zoo Tampa may charge premium rents because they are so desirable.
- Amenities
And high-quality amenities like an ample parking space, outdoor sitting, etc., or modern interiors can actually justify a higher rental rate.
- Tenant Retention
Longer-term leases are offered by those that maintain flexible terms, offer maintenance support, and tenant-friendly policies.
Properties Near Zoo Tampa: Appraisal Considerations
And where properties are located near attractions such as Zoo Tampa — the appraisal process gets even more complex.
What Impacts Property Value?
Proximity to Key Attractions:
Properties near the zoo or main road usually appraise relatively higher as it is visible to a greater number of customers.
Foot Traffic Data:
Traffic patterns, or lack thereof, are considered as appraisers figure out how much the property is worth; higher volumes mean more value.
Zoning Regulations:
A prime zoning opportunity, like any type of zoning opportunity, can increase appraisals. However, zoning rules dictate what types of businesses can operate on your property.
Tourism Trends:
Strong property value comes from a steady or growing stream of visitors to Zoo Tampa. Negative impact for appraisals is caused by declines in tourism.
Real Estate Investment Expert Tips
Here are some expert recommendations for investors exploring properties near Zoo Tampa:
Conduct Market Research:
Know what the tourists and few locals visiting the area want to see. Investment should be tailored to meet their immediate needs directly.
Diversify Revenue Sources:
Think about the properties with moderate layouts which can be used for more than one purpose. One example would be mixed-use properties that combine retail and dining, or office space.
Plan for Long-Term Growth:
Zoo Tampa has room to expand around the area. Determine areas of future growth from keeping an eye on local development projects, changes in infrastructure, or plans for additions to the (existing) attractions.
Partner with Experts:
When working with a skilled real estate brokerage like BAST Commercial, you will be in the best position to get informed advice regarding zoning, tenant acquisition, and property management.
Detailed Market Analysis
In Tampa’s case, it’s all about the commercial value of areas surrounded by prominent venues like ZooTampa at Lowry Park appearing as a very good case for investment. For investors, it is important to understand the city’s economic cycles and real estate trends, especially the demographic trends of the population it serves.
Economic Trends in Tampa
Tampa has emerged as a strong and reliable economic hub, characterized by significant job growth and a diverse commercial businesses. According to October 2024 fox news, the Tampa metropolitan area reported good employment figures across various sectors, reflecting its economic vitality.
Tampa’s unemployment rate stands at approximately 3%, underscoring a strong labor market.
Key industries propelling Tampa’s economy include:
- Healthcare and Social Assistance: One of the leading employment sector.
- Professional and Business Services: It includes a large number of corporate and Technical Services.
- Leisure and Hospitality: ZooTampa attracts tourism and tourists provide significantly to the local economy.
In its essence, these sectors pave a dynamic economic environmentclose to commercial investments.
Real Estate Market Comparisons
Mean property prices vary significantly in Tampa and variation is moderately affected by distance to tourist sites and other city areas. For example, home value in the Downtown Tampa stands currently at approximately $482,811.
On the other end, the neighborhood around Busch Gardens boasts more properties available, thus suggesting a variety of choice investments.
- High Foot Traffic: Attractions like ZooTampa draw over a million visitors annually, providing businesses with a steady stream of potential customers.
- Family-Oriented Demographics: Families being drawn to the zoo gives businesses to this type of target market opportunities including restaurants, retail stores and entertainment venues.
Investment possibilities are lucrative, comparatively, near Busch Gardens and Downtown Tampa and offer unique market dynamics and customer bases.
Demographic Data
In order to adjust your business strategies, you have to understand market and demographics of Tampa. The city has a population of approximately 403,361 residents, with the following characteristics:
- Age Distribution: A diverse age range, with a median age that reflects a balanced mix of young professionals, families, and retirees.
- Income Levels: The median household income is around $66,802, indicating a relatively affluent consumer base.
- Tourism Statistics: Domestically and interntionaly, attractions like ZooTampa play a role in a dynamic tourism industry in the city of Tampa.
This demographic profile makes space for commercial ventures ranging from retail and restaurant to amusement and hospitality services.
Specific Business Opportunities
Identifying and analyzing successful businesses near ZooTampa can provide valuable insights into the area’s commercial potential.
Franchise Opportunities
Franchise investment opportunity abounds in the Tampa Market, specifically in sectors such as food and beverage, retail and entertainment. The city has a high level of commercial consumer expenditure with franchise holding a share of 46.7% in the total spending of households.
Future Development and Opportunities
And the projects continue to spring up near the Zoo Tampa, with things such as enhanced transportation options and community focused urban improvements, all of which add to that potential. This allows you to be on top of how competing tour operators are reacting in the area, to proposed expansions, road improvements and business updates.
Final Thoughts
Incorporating commercial properties close to Zoo Tampa is a strategic venture as well as a visionary one of its kind. High foot traffic, family focus and aptitude for real estate in Tampa make the area a magnet for potential success. Whether you are leasing spaces, opening a hospitality venue or a retail hub the opportunity for growth is huge.
BAST Commercial is here to help you take the next step and become a real estate landlord. We provide expert solutions for investing in Australian property, from finding that perfect property, to supporting negotiations and management in accordance with your investment goals.
Contact us today and learn why commercial properties near Zoo Tampa are exactly what you’ve been looking for.
