1031 Buyers! Two Buildings with Three Tenant

Retail-Commercial for Sale
Catylist Listing ID: 30757483
Property Subtypes: Mixed Use, Restaurant, Other
Building Size (RSF): 7,900 SF
Gross Building Area: See Agent
Sale Price: $928,000
Unit Price: $117.47 PSF
Property Use Type: Investment
Usable Size (USF): 7,900 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/26/2021

Overview / Comments

Property is currently being split into separate parcel IDs and turned into Commercial Condos
Two Income-Producing Commercial Buildings
100% Occupied
602 & 606 Manatee Avenue West
Between 6th & 7th Streets
Bradenton, Florida 34205

Well-Located Handsome, Historic Manatee Avenue West Commercial Buildings. Great Street Presence, terrific visibility. On "Medical Row", opposite Manatee Surgical Center and Bradenton Cardiology Center and just steps from Ear Nose & Throat Associates, Manatee County Health Dept., The Eye Depot, Radiation Oncology Centers of Southwest Florida, West Coast Ob/gyn and other healthcare providers. Six blocks east of the Manatee Memorial Hospital complex on US41, 6 blocks west of downtown Bradenton. One block south of the Manatee riverfront "Riverwalk" Prominade. Between the new 700 units development “The Preserve at Riverwalk”, at east 10th Street & Manatee Avenue East and the 100 unit luxury “Allure” which just broke ground west of us at 1st street & Manatee Avenue West. Adjoins the historic & now closed 65 year old Tip Top Tavern, reported to be replaced by a new restaurant and bar called “The Railhouse”. Traffic count: 47,500 vehicles a day.

One 2-story and one 1-story buildings, Over $300,000 invested in a gut renovation of both buildings including new electric, plumbing, air conditioning, walls, dropped ceilings, storefronts, sprinkler & fire alarm system and new 800 amps electric service*. Shared parking easement with parking lot behind building.

Size: 602: 2,500 sq. ft., ground floor (& @ 400 sf inaccessible 2nd floor space, but included with One Tribe space)
606: 2,500 sq. ft., ground floor
2,500 sq. ft, 2nd floor
Total: 7,900 sq. ft.

Income:
602: ground floor store, One Tribe Fitness: $2,200./mo. Lease 2/1/219-4/30/22
606: ground floor store: Pesto Italian restaurant: $2,000/mo., Lease 8/1/18-7/31/2023
606: 2nd floor: Bridget Lopez photography studio: $1,833./mo. Lease: 12/1/14-4/30/22

Est. Income: $72,396 p/a

Est. Expenses:
Property taxes: $ 2,577 (apportioned by sq.ft. from total)
Insurance: $ 4,800
Total*: $ 7,377

*As everything new, no repairs estimate, no landscaping.

Est. Profit: $ 65,079

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Tax ID/APN: 3282300007
Zoning: T6
Property Visibility: Excellent
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,223 91,149 194,387
Median Age: 37.18 40.2 43.55
Households: 3,245 36,295 81,700

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