Reduced Price on Income Producing Office Buildings

Office for Sale
Catylist Listing ID: 30588809
Property Subtypes: Business Park, Office Building
Building Size (RSF): 39,882 SF
Gross Building Area: See Agent
Sale Price: $6,925,000
Unit Price: $173.64 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Dept. of Children & Families/Dept. of Corrections
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Average Occupancy Rate: 100
Last Updated: 4/21/2021

Overview / Comments

Opportunity to purchase strong income flow with new leases. Located in an Opportunity Zone! Three of the tenants are the State of Florida. Tenants are very motivated to stay in place for the long term. Additional land available to build up to another 10,000 SF building. 4th Tenant is a partner in the building and will sign a new lease, to be negotiated. Call agent to discuss discrepancies between rent roll and floor plan.

7.0% CAP Rate

Financials

Finance Data Year 2021
Net Operating Income $485,000 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: City of Sarasota
Tax ID/APN: 2025010007
Total Number of Buildings: 2
Number of Stories: 1
Year Renovated: 2012
Zoning Description: ICD

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 18,724 77,656 171,472
Median Age: 38.24 44.91 47.56
Households: 7,593 34,326 77,705

Contact

Photograph of Listing Agent

Kenneth E Hoskinson Jr

HEMBREE & ASSOCIATES INC MFCRE Member
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