Great Investment Opportunity!

Office for Sale
Catylist Listing ID: 30364073
Property Subtypes: Office Building
Building Size (RSF): 34,665 SF
Gross Land Area: 64,665 SF
Sale Price: $4,575,000
Unit Price: $131.98 PSF
Property Use Type: Investment
Building Name: Sarasota Art & Antique Center
Class of Space: Class B
Usable Size (USF): 34,665 SF
Sale Terms: Cash to Seller
Cap Rate: 3.12%
Last Updated: 1/3/2019

Overview / Comments

This property is a great investment for a value add opportunity to bring rental income up to market rate and fill in the few remaining vacancies. The building is in a prime location and zoned for multiple allowable uses. Ample parking currently available and opportunity to use some of that land for additional development or to redevelop the entire property utilizing the DTE zoning. Also potential to take advantage of the Opportunity Zone tax incentives.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 2027160085
Zoning: DTE
Highway Access: Located within the Opportunity Zone on the West side of the road along South Washington Blvd (US 301) just north of the merge with Tamiami Trl (US 41) this property both very visible and accessible.
Airports: SRQ
Site Description: Located within the Opportunity Zone on the West side of the road along South Washington Blvd (US 301) just north of the merge with Tamiami Trl (US 41) this property both very visible and accessible. With a traffic count of over 33,000 AADT, this is a great location for a variety of office and retail uses as shown by the current collection of tenants. Also just minutes from the heart of Downtown Sarasota, there are a variety of dining and entertainment venues just around the corner.
Area Description: With a traffic count of over 33,000 AADT, this is a great location for a variety of office and retail uses as shown by the current collection of tenants. Also just minutes from the heart of Downtown Sarasota, there are a variety of dining and entertainment venues just around the corner.
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 1985

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,904 88,118 174,206
Median Age: 43.89 45.36 48.22
Households: 6,806 39,365 80,348
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