BUYER: Bireddy Real Estate Group LLC (manager: Venkata Bireddy), Tampa
SELLER: HB Properties I LLC
PROPERTY: 607 and 623 S. MacDill Ave., Tampa
PRICE: $1.25 million
PREVIOUS PRICE: $554,500 and $370,500, September 2013
TITLE FIRM ON DEED: Bayshore Title Insurance Agency, Tampa
Tampa internist Dr. Venkata Bireddy purchased 24,700 square feet of land in two parcels for $1.25 million.
The property features the Tampa Bay Farmers Market outdoor market and two small retail/office buildings.
John Reaves of John Reaves Real Estate Inc. represented the buyer.
“They're entertaining several possibilities for the site, such as locating a chain restaurant there,” Reaves says. “Or maybe building a three-story building -- 10,600-square-foot — for medical or office with parking underneath. They could even lease the buildings as is or market it as a land lease for whatever someone else would want to do with it. It is really a premier site in south Tampa. How many corners of Swann and MacDill [avenues] are there?”
The purchase entity, Bireddy Real Estate Group LLC, mortgaged the property to Floridacentral Credit Union for $937,500.