12,000 SF Fully-Occupied, Multi-Tenant Investment

Industrial for Sale
Sale Pending
Catylist Listing ID: 30792528
Property Subtypes: Flex Space, Free-Standing
Status: Pending
Condo? Yes
Building Size (RSF): 12,000 SF
Gross Building Area: See Agent
Gross Land Area: 38,699 SF
Sale Price: $1,620,000
Drive In Bays: 5 Bays
Property Use Type: Investment
Building Name: The WA Center
Usable Size (USF): 12,000 SF
Sale Terms: Cash to Seller
Cap Rate: 4.7%
Average Occupancy Rate: 100
Last Updated: 4/20/2022

Overview / Comments

Excellent opportunity to own a Well-Maintained, Fully-Occupied, Multi-Tenant Flex building with stable tenants in-place.

4.7% cap rate ($135/SF) based on below-market leases. Upside available as current tenant rates range from $7.68/SF to $10.14/SF (below current market levels).

The 12,000 SF building is platted to include 5 individual condominium units. Units 7220, 7222 and 7224 are each 2,000 SF. Units 7226 and 7228 are each 3,000 SF.

Plenty of parking is available (20 spaces) on this 0.89+/-Acre corner located property.

Great location in the US 301 corridor.


Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 1985301559; 1985301609; 1985301659; 1985301709; 1985301759
Is Condo?: Yes
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Year Built: 2008
Parking Type: Surface
Parking Description: Unassigned, asphalt paved parking. 1 parking space per 600 SF
Total Parking Spaces: 20
Eave Height: 14.3
Zoning Description: LM - Light Manufacturing (Manatee County)
Lot Frontage: 364
Lot Depth: 200
Water Service: Municipal
Sewer Type: Municipal
Legal Description: UNIT 7220, 7222, 7224, 7226, 7228 THE WA CENTER, A COMMERCIAL CONDO

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,030 71,825 197,143
Median Age: 38.81 45.58 45.42
Households: 2,324 31,012 86,324
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