NNN Investment Medical Office Condo Sale

Office for Sale
Catylist Listing ID: 30765970
Property Subtypes: Medical, Net Leased, Office Building
Building Size (RSF): 4,423 SF
Gross Building Area: 7,252 SF
Gross Land Area: 16,499 SF
Sale Price: $1,430,000
Unit Price: $323.31 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: 333 W Miami
Class of Space: Class B
Usable Size (USF): 3,626 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 10/6/2021

Overview / Comments

Medical Office Condo is a NNN Investment. The Tenant is a large Florida based Medical group with 150 locations in Florida. There are four doctors in this location and the only office located on the Venice Island in Downtown Venice Florida. This strategic location serves the community for those who reside on the "Island" and do not want to venture off the island on one of the three draw bridges that can periodically delay travel off the island, particularly during tourist season.
The Tenant whole occupies the 1st floor is in the 2nd year of 5 year option, with another 5 year option behind it. This two story medical office condo has other related medical tenants on the second floor along with a Tenant lounge available to ALL tenants.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0000007690
Zoning: OPI OFFICE/PROFESSIONAL/INSTITUTIONAL
Property Visibility: Excellent
Highway Access: Business US 41
Airports: Venice Regional
Site Description: Located in Downtown Venice on Miami Ave, 1 block south of the main east west street on and off the Island
Area Description: Quiet street downtown and surrounded by Churches, Restaurants, Municipal Buildings, Retail Shops, and residential.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,626 SF
Year Built: 1977
Year Renovated: 1998
Roof Type: Hip
Construction/Siding: Stone
Exterior Description: Decorative Stone
Parking Type: Surface, Other
Parking Description: Surface and street parking
Total Parking Spaces: 13
Passenger Elevators: 1
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable, Fiber Optic
Interior Description: Medical Build-out
Zoning Description: Office/Professional/Institutional OPI
Lot Frontage: 110 ft
Lot Depth: 150 ft
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Leased Fee Interest
Legal Description: UNITS 1 & 2, 333 WEST MIAMI AVENUE

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,009 35,495 66,948
Median Age: 67.37 61.27 59.84
Households: 4,160 18,649 34,061

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