4 Contiguous Units in Gulf Gate FOR SALE

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30640276
Property Subtypes: Street Retail
Status: Pending/Contingent
Building Size (RSF): 5,626 SF
Gross Building Area: 5,820 SF
Gross Land Area: 22,500 SF
Sale Price: $1,300,000
Unit Price: $231.07 PSF
Property Use Type: Investment
Usable Size (USF): 5,626 SF
Sale Terms: Cash to Seller
Average Occupancy Rate: 100
Last Updated: 3/2/2021

Overview / Comments

Florida Internet Realty is proud to represent 4 units for sale on the west end of Gulf Gate Drive across the street from Panera Bread. There are 50 storefronts in this strip and this is the end cap. The property is very well maintained with 34 parking spaces and 3 tenants occupying the 4 spaces. Units 2110 & 2112 are combined for a total of 2729 sq ft. Unit 2114 is 1662 sq ft and Unit 2116 is 1220 sq ft. More than 1/2 acre of land in Gulf Gate offers many future opportunities and the current cash flow requires minimal management making it easy to expand your commercial portfolio or transition from residential investments into commercial property.

Current Tenants

Tenant Business Name Uniform World, LLC
Contact Name contact Agent
Industry Type Retail Trade
Is Renting? Yes
Suite Number 2112
SF of Space Occupied 2,729 SF
Current Rent $19 PSF (Annual)
Lease Expiration 5/2021
Escalations 3% annual
Options One additional 3 year term
Tenant Notes Specialty clothing store
Tenant Business Name Ooh La La Photography
Contact Name contact Agent
Industry Type Other Services
Is Renting? Yes
Suite Number 2114
SF of Space Occupied 1,662 SF
Current Rent $18 PSF (Annual)
Lease Expiration 1/2022
Escalations 3% annual
Options One additional 3 year term
Tenant Notes Family, Maternity, Infant & Newborn photography
Tenant Business Name Mel's Barber Shop
Contact Name contact Agent
Industry Type Other Services
Is Renting? Yes
Suite Number 2116
SF of Space Occupied 1,220 SF
Current Rent $19 PSF (Annual)
Escalations 3%
Options One 3 year term
Tenant Notes Multiple location operator

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0104070010
Zoning: CG
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: Just south of Stickney Point Rd/ Clark Rd or the southern access to Siesta Key
Property Visibility: Excellent
Largest Nearby Street: US-41 (Tamiami Trail)
Feet of Frontage: 125
Traffic/Vehicle Count: 6,100
Highway Access: Less than 1000 feet from traffic light on US-41. Access from Gulf Gate Drive both east and westbound.
Airports: SRQ
Site Description: Directly behind Longhorn Steakhouse there are 50 storefronts lining Gulf Gate Drive. These units for sale are the FIRST four of the 50 as you approach from the west. There is new renovation taking place on this strip and rental demand is strong because of the proximity to Siesta Key. Gulf Gate is a business district of restaurants, bars, shops, service providers, grocers and gift stores patronized by tourists and locals alike.
Area Description: The units for sale are surrounded by restaurants and businesses including franchises, independents and nation chain names
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1966
Year Renovated: 2010
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Smooth finished block and commercial display windows with glass front doors and rear steel doors
Total Parking Spaces: 34
Parking Ratio: 6 (per 1000 SF)
Parking Type: Surface
Parking Description: 34 spaces front and back of the building
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Interior Description: Currently configured as 3 units. The western two units have been combined
Zoning Description: CG
Lot Frontage: 125'
Lot Depth: 180'
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Survey is available
Legal Description: Lot 3 of Unit 1, GULF GATE SUBDIVISION, according to Plat thereof as recorded in Plat Book 13, Page 24 of the Public Records of Sarasota County, Florida Parcel ID# 0104070010

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 11,537 59,527 119,989
Median Age: 52.41 54.03 52.69
Households: 5,954 29,837 58,014
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