Investment Opportunity with Laundromat

Retail-Commercial for Sale
Catylist Listing ID: 30438618
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Other
Building Size (RSF): 6,005 SF
Gross Building Area: See Agent
Sale Price: $650,000
Unit Price: $108.24 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/5/2019

Overview / Comments

Now available with two buildings on one parcel. Building 2808 (Restaurant) has around 4,131 sf that has a tenant on a 12 year lease with about 11 years remaining. Per the seller 2808 has a newer roof and A/C system. Tenant that occupies this restaurant is Villa Italia Cafe (https://villa-italia-cafe.business.site). They have two additional 5 years options after the first 12 years. Annual increases every year from year 3 and on. This is a NNN lease. The second building 2606 (Laundromat) has around 1,874 sf that is currently being ran by the seller but has a staff in place for day to day operation. Very easy to manage and operate. Property is surrounded by a ton of residential neighborhoods and this restaurant/laundromat is a go to local establishment for Tropic Isles Development. Tropic Isles is 60 acres of premier real estate directly on Terra Ceia Bay with Homes, RV Parks, Marina, and Boat Storage. Can't beat deal for a corner lot with NNN income and a Laundromat that is a cash business!

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Tax ID/APN: 2926200109
Zoning: CN
Property Visibility: Excellent

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,566 59,177 149,608
Median Age: 44.79 43.87 44.33
Households: 1,799 23,594 63,002

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