True 8+% Cap Rate From 59 Rental Units!

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30102553
Property Subtypes: Flex Space, Industrial-Business Park, Mixed Use, Light Industrial, Office Showroom, Research & Development, Self Storage, Warehouse/Distribution, Other
Status: Pending/Contingent
Building Size (RSF): 23,580 SF
Gross Building Area: See Agent
Gross Land Area: 56,198 SF
Sale Price: $2,750,000
Unit Price: $116.62 PSF
Property Use Type: Investment
Building Name: Seaboard Office Park
Sale Terms: Cash to Seller
Last Updated: 11/21/2017

Overview / Comments

Strong cash flowing investment waiting for new owner! A mixture of 35 warehouse and 24 office units make up the 59 unit rental investment. Got a void? Then only get a +/-2% drop in occupancy! Average occupancy 97%+. Buildings have been well cared for: Repainted 2012, New roof 2013, Air Conditioning units - 6 of 7 around 4 years old, City water and sewer. Income flowing is $303k, expenses (INC tax, insurance, repairs and on-site management) $72k leads to NOI of $231k or 8.4% cap rate!

Full details available subject to completion of NDA. All information regarding the property, including but not limited to financial information and projections (e.g., cap rates and valuations) are based on information from a variety of sources including but not limited to public records and owner-provided data. While information is believed accurate, neither the listing agent or broker make any representation or warranty as to its completeness, and you should not rely upon it without conducting your own due diligence and investigation to determine whether the property meets your criteria and is a suitable investment. Past results are not necessarily indicative of future performance. Owner provided financial information will be available for review upon execution of a confidentiality agreement.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota
Tax ID/APN: 0408020016
Zoning: ILW
Tenancy: Multiple Tenants
Property Condition: Good
Parking Type: Surface
Total Parking Spaces: 65

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,790 42,446 69,971
Median Age: 65.71 62.14 60.09
Households: 4,501 22,369 35,614

Contact

Photograph of Listing Agent

Ivan J Gould

RE/MAX ALLIANCE GROUP
MFCRE Member
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