Perfect 1031! Amazing Location on SR 70

Retail-Commercial for Sale
Catylist Listing ID: 30706083
Property Subtypes: Free-Standing Building, Other
Building Size (RSF): 6,343 SF
Gross Building Area: See Agent
Gross Land Area: 0.58 Acres
Sale Price: $899,900
Unit Price: $141.87 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: GC
Sale Terms: Cash to Seller
Cap Rate: 7.6%
Average Occupancy Rate: 100
Last Updated: 2/24/2021

Overview / Comments

Looking for a great 1031 exchange that is hands off? Now available with a tenant that has been in this building for around 12 plus years. Bob's Carpet & Flooring has 16 locations! This building serves as the showroom space for East Bradenton and Lakewood Ranch. Tenant has signed an extension Lease agreement that starts on March 1 2021 and ends on Feb 28 2022. Potential upside for a future owner!

HIGHLIGHTS
- LONG STANDING TENANT SINCE 2008
- CURRENT +/- 7.6 CAP WITH POTENTIAL UPSIDE
- PROPERTY LOCATED IN PRIME AREA
- FDOT TRAFFIC COUNT +/- 51,000 DAILY
- SITE SURROUNDED BY CREDIT TENANTS

Current Tenants

Tenant Business Name Bob's Carpet and Flooring
Website URL www.bobscarpetmart.com
Year Founded 1969

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Tax ID/APN: 1732010408
Property Visibility: Excellent
Traffic/Vehicle Count: 51,000
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,343 SF
Property Condition: Excellent
Year Built: 1996
Year Renovated: 2008
Construction/Siding: Metal Siding

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,585 43,357 157,501
Median Age: 55.01 46.08 44.26
Households: 2,534 17,501 65,110

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