Atriums Airport Executive Center

Office for Sale
Catylist Listing ID: 30831712
Property Subtypes: Business Park, Executive Suites, Flex Space, Office Building
Building Size (RSF): 17,606 SF
Gross Land Area: 1.76 Acres
Sale Price: $2,600,000
Unit Price: $147.68 PSF
Property Use Type: Investment, Business
Building Name: Atriums Airport Executive Center
Class of Space: Class B
Usable Size (USF): 13,391 SF
Sale Terms: Undisclosed
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 5/29/2023

Overview / Comments

This is a Value-Add Opportunity! The property is presently 100% occupied with a wait list. The Atriums is a modern designed, 55-unit office building with separate entrances for each office suite, and clerestory windows that provide an abundance of natural lighting. Its cluster grouping of offices creating a smaller,cozier, natural environment with plenty of parking. The Atriums office sizes range from 140 square feet to our 1,200 SF, two-story flagship, allowing businesses to grow without changing addresses. Recently, the property has been going through a transformation with major upgrades to the office, security systems, restroom facilities, the walkways, fresh exterior paint and roof coating, culminating in a state-of-the-art video conferencing and meeting room available for use by all Atrium tenants. Everything is included; all computer and video systems, maintenance garage and shed with all the tools, spare parts, ladders, etc. as well as website and intellectual property. The Atriums offers ease of meeting out-of-town clients and vendors. Ideally located on Route 41 / Tamiami Trail, right next to the Sarasota-Bradenton International Airport with a AADT of 38,500 cars passing by the property. There is one ingress/egress off Route 41and two off Hernando Avenue. The Viage Group Boat Dealership is to the Northand the Deluxe Inn, Hilton Garden Inn/Home 2 Suites and mini storage is to the South and East. NOI of over $131,000 transitioning to a market rent proforma yielding approximately $218,000.


Finance Data Year 2022
Real Estate Taxes - Annual($) $30,661 (Annual)
Tax Value Land $387,048
Tax Value Improvements $1,712,024
Assessed Value - Total($) $1,888,000 (Annual)
Potential Rental Income $410,000 (Annual)
Gross Operating Income $323,172 (Annual)
Net Operating Income $131,738 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee
Tax ID/APN: 6843900009
Zoning: GC
Property Located Between: Hernando Avenue and Braden Avenue
Property Visibility: Excellent
Airports: Sarasota Bradenton International Airport
Total Number of Buildings: 4
Number of Stories: 1
Year Built: 1985
Year Renovated: 2021
Roof Type: Arched
Construction/Siding: Block
Parking Type: Surface
Parking Description: 76 parking spaces
Total Parking Spaces: 76
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Lot Frontage: 205
Lot Depth: 390
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,626 51,558 175,120
Median Age: 47.08 42.3 45.46
Households: 1,513 21,160 77,809


Photograph of Listing Agent

Michael S Gallatin

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