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 $218,000.
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$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 |
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 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither My Florida Commercial Real Estate nor
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