Value Add Investment
Office
for Sale
| Catylist Listing ID: |
30851289 |
| Property Subtypes: |
Business Park, Medical, Office Building
|
| Condo? |
Yes |
| Building Size (RSF): |
4,802 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$1,500,000 |
| Property Use Type: |
Investment |
| Building Name: |
Nokomis Park Condominium Association |
| Class of Space: |
Class B |
| Usable Size (USF): |
4,802 SF |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/9/2023 |
Overview / Comments
The primary offer for the 329 Nokomis property is for 6 units owned by the Seller in the 8 unit property.
Nokomis Park Condominium Association is comprised of 13 units in two buildings.
The two buildings are the 321 and the 329 Nokomis Ave Buildings. The 329 building has a total of 5 tenants. The 321 building has 4 tenants. Some of the units have been combined to accommodate the Tenant's space needs. The primary offer is the 6 units (3 Tenants) of the 8 units in this building.
Option B
The 321 Property is available for Purchase, but only with the acquisition of the 329 Property as well. The 321 Property is not available as a stand along offer.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$11,556 (Annual) |
| Assessed Value - Total($) |
$835,120 (Annual) |
| Potential Rental Income |
$115,248 (Annual) |
| Gross Operating Income |
$99,434 (Annual) |
| Net Operating Income |
$79,546 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
North Port-Sarasota-Bradenton |
| County: |
Sarasota |
| Taxing Authority: |
Sarasota County |
| Tax ID/APN: |
0408141002 |
| Is Condo?: |
Yes |
| Zoning: |
OPI |
| Property Located Between: |
Turin St and Milan Ave |
| Property Visibility: |
Excellent |
| Highway Access: |
One block west of US 41 Downtown Venice FL |
| Airports: |
Venice Regional Airport |
| Site Description: |
Beautiful Street with professional offices. The property is directly across from the Venice Community Center and adjacent to the"New" Venice Public Library. |
| Area Description: |
Professional Medical Office with a mix of General office, Quiet shady street.
|
| Number of Stories: |
1 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,355 |
40,885 |
68,547 |
| Median Age: |
66.06 |
61.47 |
59.86 |
| Households: |
3,123 |
21,440 |
34,853 |
|
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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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