Value add opportunity: Oak Park Professional Condo

Office for Sale
Catylist Listing ID: 30187418
Property Subtypes: Medical, Office Building
Condo? Yes
Building Size (RSF): 9,233 SF
Sale Price: $1,432,349
Property Use Type: Investment, Vacant/Owner-User
Building Name: Oak Park Professional Center Condominiums
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 334
Last Updated: 11/19/2018

Overview / Comments

This is an opportunity for an investor or owner/user. The subject consists of three unfinished office condominium units ranging in size from 2,040, to 2,059 to 2,049 square feet. They can be sold or rented separately or combined for 6,148 square feet.
The fourth unit consists of 3,085 square feet and is leased to Digestive Disease Specialists of Manatee.
We have priced the unfinished space at $119.12 per square foot or $732,349 and the leased space at $226.90 or $700,000. Individual units can be seperately.

The opportunity is for investor/user to come in and finish units to be rented and or sold to end users.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee ounty
Tax ID/APN: 3940000259
Is Condo?: Yes
Property Located Between: 51st Street W and 59th Street West on 21st Ave West
Property Visibility: Good
Highway Access: Easy access to 51st and 59th streets providing good access to Cortez Rd and Manatee Ave. Just one block east of Blake Hospital
Area Description: Located one block east of Blake Hospital and contigious to Tanglewood Professional Park. The area is a mixture of professional, retail, medical and single family and multifamily units.
Total Number of Buildings: 1
Number of Stories: 1
Roof Type: Barrel Shell
Construction/Siding: Block
Exterior Description: Mediterian design with stucco finish and barrel tile roof.
Parking Ratio: 3.5 (per 1000 SF)
Parking Type: Surface
Parking Description: There are 32 surface parking spaces, four of which are covered.
Total Parking Spaces: 32
Sprinklers: Wet
Heat Type: Electricity
Air Conditioning: Engineered System
Interior Description: Three unfinished units; 2,040, 2,059 and 2,049 square feet. Unit 5715 is occupied by Digestive Disease Specialists and consists of 3,085 square feet built out as medical office.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Condominium

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,172 88,306 166,004
Median Age: 57.88 46.13 44.43
Households: 6,354 39,902 71,019


Photograph of Listing Agent

Jay J Heagerty Jr.

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