Fully Leased 5.8 Cap Investment Mixed Use Site!

Multi-Family for Sale
Catylist Listing ID: 30813238
Property Subtypes: Low-Rise/Garden
Number of Units: 8 Units
Building Size (RSF): 5,568 SF
Gross Land Area: 0.20 Acres
Sale Price: $2,350,000
Unit Price: $293,750 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Fully Leased 6 Cap Investment Mixed Use Site!
Usable Size (USF): 6,008 SF
Sale Terms: Cash to Seller
Cap Rate: 5.84%
Average Occupancy Rate: 100
Last Updated: 11/16/2022

Overview / Comments

Fully leased Mix Use Investment property! This attractive asset features a 2 story layout with professional storage & storefront on the bottom floor, and Three apartments on the upper floor.

Completely renovated and redone inside and out in 2020, this site is pristine. And sure to remain at full occupancy for years to come due to high demand and low availability. A site layout proves that it is low maintenance and high yield.

- Mixed Use design for tenant diversification
- Fully renovated in 2020
- 100% occupancy
- On Site management
- 2 of 3 apartments are furnished

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $4,500 (Annual)
Tax Value Land $45,000
Tax Value Improvements $308,107
Assessed Value - Total($) $353,107 (Annual)
Gross Operating Income $156,600 (Annual)
Net Operating Income $137,200 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 5131700006
Zoning: GENERAL COMMERCIAL
Percent Occupied: 100%
Community Amenities: On-Site Maintenance
Highway Access: I-75
Airports: Bradenton-Sarasota, St. Pete-Clearwater, Tampa International
Area Description: Located in North Manatee County, One block north of Cortez Road and One block west of 59th St. W.
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 1978
Year Renovated: 2020
Roof Type: Gable
Construction/Siding: Stucco
Exterior Description: Masonry & Stucco Finish
Parking Type: Surface
Parking Description: Surface lot with 8 marked spaces
Total Parking Spaces: 8
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: 2 of 3 apartments are furnished
Zoning Description: Manatee County - General Commercial
Lot Frontage: 80
Lot Depth: 107
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Hooray Inc
Legal Description: LOTS 15,16 BLK 2 CORTEZ GARDENS FIRST SEC PI#51317.0000/6

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,262 82,944 157,984
Median Age: 48.93 47.22 45.29
Households: 6,921 38,412 68,643

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