100% Leased Investment Opportunity

Industrial for Sale
Catylist Listing ID: 30315535
Property Subtypes: Industrial-Business Park, Light Industrial
Condo? Yes
Building Size (RSF): 7,401 SF
Gross Building Area: See Agent
Gross Land Area: 0.53 SF
Sale Price: $750,000
Ceiling: 18 ft. / 14 ft. Clear
Office SF: 2,500 SF
Drive In Bays: 2 Bays
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.9%
Average Occupancy Rate: 10
Last Updated: 8/10/2018

Overview / Comments

Investment opportunity on a 7,401 sq. ft. industrial condominium with long term tenant in place. The building features 2,500 sq. ft of recently remodeled office space that includes multiple private offices, spacious break room, and large conference/ training room which over looks the warehouse. The warehouse space is fully insulated and fully A/C’ed with 14’-18’ drop ceiling, skylights, fire sprinklers, recently added 3-phase power and four (4) 12x12 overhead doors, two of which are currently plugged. Fenced yard area, with parking for approximately 20 vehicles.
Tenant is currently in 1st of 3 renewal options, with current option expiring in May 2020. Landlord is currently working with Tenant on new lease for 3-year term. DO NOT DISTURB TENANT. All showings are by appointment only.
The property is located in the Northgate Center Business Park with immediate access to N. Washington Blvd/US 301, and close proximity to Downtown Sarasota and the Sarasota/Bradenton International Airport.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0026-06-1001
Is Condo?: Yes
Zoning: ILW
Property Located Between: University Parkway & Fruitville Road
Area Description: Northgate Center Business Park
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Excellent
Year Built: 1989
Year Renovated: 2018
Parking Type: Structure
Sprinklers: Wet
X-Phase: Three
Zoning Description: ILW

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,759 65,273 174,705
Median Age: 39.98 44.78 47.24
Households: 4,369 28,536 78,322

Contact

Photograph of Listing Agent

Roberta J Kolton Cera

MICHAEL SAUNDERS & COMPANY MFCRE Member
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