Office Condo - 821 sqft For Sale

Office for Sale
Sale Pending
Catylist Listing ID: 30757936
Property Subtypes: Business Park, Other
Status: Pending
Condo? Yes
Building Size (RSF): 821 SF
Sale Price: $160,000
Ceiling: 8 ft.
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Ringling Professional Center Building D
Class of Space: Class B
Usable Size (USF): 821 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/20/2021

Overview / Comments

Location. Location. Location. Well designed office space with reception area and 4 private offices plus a private bathroom and kitchenette. This particular suite size (821sqft) is the most popular and rarely available. This is your opportunity to own your space. The Ringling Professional Center is a landmark campus on the south side of Fruitville Road between Tuttle and the Sarasota Fairgrounds. The nearly 3.5 acre campus contains 6 separate 2 story buildings addressed A, B, C, D, E, F with 45 individual condo office suites respectively identified by their suite number. The quarterly fee correlates to the size of the suite. For office suite D-115 the quarterly fee is $1284 which includes the roof, exterior of the building, landscape/irrigation, exterior pest control, water, sewer and trash. Owners are responsible for windows and doors along with their own internet (Provider=Xfinity) and electricity. This is a ground floor unit, no stairs or elevator required for access. The unit is currently tenant occupied. Annual Lease A ends 8/31/2021-occupies small offices #1, #2, and #4 and shifts to month to month with 30 day notice to vacate. Annual Lease B occupies small office #3 ends Oct. 31, 2021. Tenants currently pay for electricity and internet for their usage. The location is fantastic just 2 miles from 5 Points downtown Sarasota and 4.3 miles to I 75. The location has wonderful access to points north, south, east and west. This is a truly fabulous time to own your own space and stop paying rent. Opportunity knocks. Call today for your private showing.

Current Tenants

Tenant Business Name CMR Medical Supply
Contact Title Tenant Lease A
Industry Type Health Care and Social Assistance
Is Renting? Yes
Employees Total 1
Suite Number 115
SF of Space Occupied 700 SF
Current Rent $1,034 PSF (Annual)
Lease Expiration 8/0031
Tenant Notes 9/1/21 Tenant shifts to 30 day month to month. With 30 day notice will vacate property
Tenant Business Name Melanie Russin
Industry Type Health Care and Social Assistance
Is Renting? Yes
Employees Total 1
Tenant Notes Lease ends 10 31 21.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: City of Sarasota
Tax ID/APN: 0000007624
Is Condo?: Yes
Zoning: CN
Property Located Between: Tuttle and Sarasota Fairgrounds and Fruitville Rd and Ringling Blvd
Property Visibility: Excellent
Highway Access: Fruitville Road to Ringling Professional entrance. Turn right, make a hard right and park. Building D on your right.
Airports: Sarasota International Airport
Site Description: The Ringling Professional Campus is approximately 3.5 acres consisting of six separate 2 story buildings housing a total of 45 individual office suites. Each office suite is privately owned and range in size from 635 sqft to 1037 sqft. The most popular office suite size is 821. Each privately owned suite has been custom designed to suit each owner's business and work flow needs.
Area Description: The Ringling Professional Center was built in 1981 and sits on the southside of Fruitville Road nearly on the corner of Tuttle and adjacent to the Sarasota Fairgrounds. The visibility of the complex has an extremely high traffic count.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 821 SF
Year Built: 1981
Year Renovated: 2018
Roof Type: Other
Construction/Siding: Block, Concrete, Stucco
Exterior Description: Unit115 is a ground floor unit located in the D building. The exterior of the building is stucco and masonry with a metal roof. The unit has 2 open patios with sliding doors for egress and ingress in addition to the front entrance door into the unit.
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: Open parking for owners and their clients.
Total Parking Spaces: 3
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable
Interior Description: Upon entering the front door you will be in a waiting/reception area. Carpeting is throughout the unit. A hallway on your right travels to the private bathroom and kitchenette area. The remainder of the suite has been divided into 4 separate offices numbered 1, 2, 3, and 4 with their own door for access.
Zoning Description: CN Community Neighborhood
Part of Planned Development?: Yes
Lot Frontage: Condo
Lot Depth: Condo
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Easements Description: Condo no land included
Land Ownership: Condo Association Ringling Professional Center
Legal Description: Unit 115 Building D Ringling Professional Center Phase 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,576 99,099 179,883
Median Age: 41.33 45.09 47.38
Households: 6,397 43,996 81,354

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