Catylist ID:
#30847925
INVESTOR or USER - A MOST UNUSUAL OPPORTUNITY
Office
for Sale
| Catylist Listing ID: | 30847925 |
| Property Subtypes: | Institutional, Medical, Office Building, Other |
| Building Size (RSF): | 5,216 SF |
| Gross Building Area: | 5,544 SF |
| Gross Land Area: | 19,628 SF |
| Sale Price: | $2,600,000 |
| Unit Price: | $498.47 PSF |
| Ceiling: | 10 ft. |
| Property Use Type: | Net Leased Investment (NNN), Investment, Vacant/Owner-User |
| Building Name: | 2727 Professional Building |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Last Updated: | 9/17/2023 |
Overview / Comments
|
Welcome to this exceptional professional office building, a prime investment opportunity situated in a highly sought-after Dynamite location. Boasting an enviable location, this property is strategically positioned just 1/2 mile south of Sarasota Memorial Hospital, ensuring high visibility and a steady stream of traffic with a DOT Traffic Count of +/-58,000. This versatile 5,216 square foot building is thoughtfully divided into 4 units, each equipped with private restrooms for convenience and privacy. Additionally, the public area features 2 more restrooms and a spacious storage closet, providing ample storage solutions for all occupants. On the South side the first unit, encompassing approximately 1,304 square feet, currently houses Lifetime Smiles Dentist, an established tenant (2016) with a lease in place until 12/31/2025. No option to renew although she may want to. Market rents may need to be considered at that time. The second unit, measuring approximately 1,050 square feet, was formerly used as an Attorney's Office by one of the owners and is currently vacant. On the north side, the opportunities for growth continue with the third unit, offering approximately +/-1,958 square feet, previously occupied by a Chiropractor, the other owner of the building and currently vacant. The fourth unit comprises approximately +/-750 square feet and is currently leased as a Business Office until 04/30/2024. While the Tenant does not have an option to renew, he may want to. There is potential to explore lease renegotiations and also attracting new occupants as market rents continue to rise steadily on S. Tamiami Trail, thus further enhancing the value of this property. With a multitude of possibilities, this property represents a compelling value-add opportunity. The property's flexible layout allows for various configurations and potential professional uses, making it attractive to both investors and owner-users seeking an ideal location for their business operations. We highly recommend scheduling a tour of this listing to fully appreciate the property's potential, including medical, and envision the endless possibilities for space utilization. Don't miss out on this chance to invest in a well-located and thriving professional office building area with an impressive range of options for revenue growth and future development. Act now and secure your stake in this promising opportunity. |
Current Tenants
| Tenant Business Name | Lifetime Smiles Dental Care |
| Is Renting? | Yes |
| Suite Number | Suite 1 |
| SF of Space Occupied | 950 SF |
| Lease Expiration | 12/2025 |
| Escalations | 2% |
| Options | No |
| Tenant Notes | Tenant also pays $125/mo for water. Tenant has been leasing since January 1, 2016 |
| Tenant Business Name | Dr. S. M. |
| Industry Type | Health Care and Social Assistance |
| Is Renting? | Yes |
| Annual Revenue | $9,684 (Annual) |
| Suite Number | 4 |
| SF of Space Occupied | 850 SF |
| Lease Expiration | 3/2024 |
| Escalations | 3.5% |
| Options | NO |
| Tenant Notes | Tenant is basically using the space as an office and storage |
Additional Details
| Nearest MSA: | North Port-Sarasota-Bradenton |
| County: | Sarasota |
| Taxing Authority: | City of Sarasota |
| Tax ID/APN: | 0056130064 |
| Zoning: | OPB - OFFICE - PROFESSIONAL - BUSINESS |
| Property Located Between: | Webber and Bahia Vista |
| Property Visibility: | Excellent |
| Highway Access: | I-75 minute drive |
| Airports: | SRQ and Punta Gorda |
| Area Description: | Only 1/2 mile to Sarasota Memorial Hospital. Neighbors are other professionals, medical, restaurants, and retail shops. |
| Total Number of Buildings: | 2 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 2,608 SF |
| Construction/Siding: | Brick |
| Parking Type: | Surface |
| Total Parking Spaces: | 26 |
| Interior Description: | Call for details |
| Zoning Description: | OPB |
| Lot Frontage: | 125ft |
| Lot Depth: | 158ft |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | Parcel Description:LOTS 14 & 15 BLK 1 ALSO PARCELS 2 & 3 AS DESC IN SURVEY IN ORS 375/267 & 375/563 SOUTH SIDE PARK ORI 1998167282 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 9,010 | 81,134 | 168,688 |
| Median Age: | 45.9 | 48.3 | 48.53 |
| Households: | 4,147 | 38,016 | 78,075 |
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