Hertz - Investment Property

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30844723
Property Subtypes: Vehicle Related
Status: Pending
Building Size (RSF): 4,091 SF
Gross Building Area: See Agent
Gross Land Area: 0.40 Acres
Sale Price: $1,650,000
Unit Price: $403.32 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/14/2023

Overview / Comments

Opportunity to purchase 0.4023 Acre lot with 101 feet fronting S. Tamiami Trail. Property has a 4,091 SF building, which has been leased by Hertz car rental since 2007. Tenant has just exercised their option to renew their lease for an additional five years, commencing March 1, 2024. NOI as of 2024 will be $80,355; CAP rate 4.87%. Property is zoned Commercial Intensive, with current ADT of 45,000.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0085130042

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,148 67,729 149,597
Median Age: 51.27 52.22 50.82
Households: 4,907 33,292 71,627
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