Catylist ID: #30357517
North Port NNN Investment - 7.47% CAP
Office for Sale
|Catylist Listing ID:||30357517|
|Property Subtypes:||Business Park, Net Leased, Office Building|
|Building Size (RSF):||5,887 SF|
|Property Use Type:||Net Leased Investment (NNN)|
|Building Name:||Earth Balance|
|Class of Space:||Class A|
|Sale Terms:||Cash to Seller|
|Average Occupancy Rate:||100|
Overview / Comments
NNN investment opportunity in Sarasota County with 7.47% CAP. Freestanding
office condominium building located in Toledo Blade Professional Center, off of
Toledo Blade Blvd. Located among other small professional and medical
• Interior built out by current tenant from gray shell in 2016.
• Office serves as corporate headquarters for single tenant, Earth Balance.
They provide providing ecosystem restoration and environmental
consulting services and have been in Sarasota County for 33 years. Strong tenant.
• Tenant currently in the third year of a seven year lease.
• 3% annual escalation rate.
• Tenant has one option to renew lease for a 7 year term that continues 3%
escalation rate, with all other lease terms remaining the same.
• For more information, please contact Ron Struthers (941) 769-3316.
Attachments & Media
|Finance Data Year||2018|
|Real Estate Taxes - Annual($)||$6,849 (Annual)|
|Net Operating Income||$68,701 (Annual)|
|Actual or Proforma Year||Actual|
|Tenant Business Name||Earth Balance|
|Industry Type||Professional/Scientific/Technical Services|
|SF of Space Occupied||5,887 SF|
|Current Rent||$12 PSF (Annual)|
|Escalations||3% annual escalation rate.|
|Options||One option to renew lease for a 7 year term that continues 3% escalation rate, with all other lease terms remaining the same.|
|Nearest MSA:||North Port-Sarasota-Bradenton|
|Taxing Authority:||Sarasota County|
|Property Located Between:||Toledo Blade Blvd. and Corporate Ave.|
|Highway Access:||From Toledo Blade Blvd., access to Interstate 75 to the north (1.5 miles) and US-41/Tamiami Trail to the south (4.5 miles)|
|Total Number of Buildings:||1|
|Number of Stories:||1|
|Typical SF / Floor:||5,887 SF|
|Part of Planned Development?:||Yes|
|Legal Description:||UNITS 1501 & 1502, BLDG 15, TOLEDO BLADE PROFESSIONAL CENTER, BEING A PORTION OF LANDS DESC IN ORI2013043999|
|Proximity:||3 miles||5 miles|
Ronald StruthersCOLDWELL BANKER COMMERCIAL NRT
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