Prime Location and Exposure Storage and Retail Space

Industrial for Sale
Catylist Listing ID: 30382138
Property Subtypes: Free-Standing, Mixed Use, Self Storage, Other
Building Size (RSF): 15,912 SF
Gross Building Area: 16,632 SF
Gross Land Area: 1 - 2 Acres
Sale Price: $2,000,000
Unit Price: $125.69 PSF
Drive In Bays: 1 Bay
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 15,912 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 4/12/2019

Overview / Comments

Unlimited potential at this prime location featuring both storage and strip retail/office space over three freestanding buildings on 1.6 acres. Zoned ILW with no master association and correlating fees. Positioned on South River Road which serves as a major thoroughfare connecting Englewood to the urban centers of Venice and North Port. Ten miles to the Northeast is I-75, 5 miles to US 41 and just over a mile to SR 776. The area is experiencing tremendous growth in population with booming housing starts. .4 mile to the east is Beachwalk Preserve, a 93-acre PUD that is permitted to accommodate 325 residential unit types including SFR detached homes, lot line homes, patio homes and villas. 5 miles from the 10,000 acres of West Villages which is 4th fastest growing community in the US. 1100 homes were built in 2018 alone! The 4-unit strip is facing River Rd with solid exposure and high traffic counts. Each unit is 1400 sq ft with it’s own electric meter, HVAC, sprinkler system and ADA compliant restroom. The middle units have been combined with an added overhead door to accommodate current tenant. Can be converted back easily. Totaling 10,932 sq ft, the rear two buildings house 54 units of storage on a separate electric meter. There are 22-5x8 units, 8-9x20 units and 24-12x23 units. Built in 2006 with block construction and metal roofing, these buildings will withstand. Please inquire about financial data.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $16,426 (Annual)
Tax Value Land $125,500
Assessed Value - Total($) $839,100 (Annual)
Potential Rental Income $151,872 (Annual)
Gross Operating Income $151,872 (Annual)
Net Operating Income $127,290 (Annual)

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: SARASOTA COUNTY
Tax ID/APN: 0850-05-0003
Zoning: ILW
Property Located Between: Englewood and the urban centers of Venice and North Port
Highway Access: Ten miles to the Northeast is I-75, 5 miles to US 41 and just over a mile to SR 776.
Airports: 29 miles to Punta Gorda Airport, 68 miles to Southwest International Airport in Ft Myers and 90 miles to Tampa International
Site Description: 4 unit office/retail strip facing River Rd. Each unit is 1400 sq ft with separate electric meters. 10,932 sq ft of storage housed in two buildings totaling 58 storage units of varying sizes. Retention pond on site.
Area Description: The area is experiencing tremendous growth in population with booming housing starts. .4 mile to the east is Beachwalk Preserve, a 93-acre PUD that is permitted to accommodate 325 residential unit types including SFR detached homes, lot line homes, patio homes and villas. 5 miles from the 10,000 acres of West Villages which is 4th fastest growing community in the US. 1100 homes were built in 2018 alone!
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Built: 2006
Construction/Siding: Block
Exterior Description: Metal roof. Block/stucco construction.
Parking Description: Private parking at the front and open parking at rear
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Lighting: Fluorescent
Internet Access: Cable
Zoning Description: ILW, STORAGE AND RETAIL/OFFICE
Lot Frontage: 150
Lot Depth: 477
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: LOT M, ENGLEWOOD GARDENS UNIT 6, LESS ELY 24.72 FT FOR RD R/W ALSO LESS RD R/W

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,909 20,359 42,483
Median Age: 68.6 62.01 59.82
Households: 1,657 10,564 21,266

Contact

Photograph of Listing Agent

Nicole Smith-Mayle

REALTY BY DALE THOMAS MFCRE Member
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