Starbucks Anchored Retail Plaza
Retail-Commercial
for Sale
Sale Pending/Contingent
| Catylist Listing ID: |
30704280 |
| Property Subtypes: |
Free-Standing Building, Street Retail
|
| Status: |
Pending/Contingent |
| Building Size (RSF): |
6,752 SF
|
| Sale Price: |
$1,795,000 |
| Unit Price: |
$265.85 PSF |
| Is Quick-Service Restaurant? |
Yes |
| Has Drive-Thru? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN) |
| Usable Size (USF): |
6,752 SF |
| Core Factor: |
1% |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
8.87% |
| Last Updated: |
4/24/2021 |
Overview / Comments
SVN Commercial Advisory Group is pleased to represent this multiple tenanted income generating asset anchored by Starbucks and Edward Jones Corporations. Starbucks lease runs to February 28th, 2029 with a 6.5% rent increase in March 2024 then 15% for every 5 years option period thereafter. This investment provides minimal Landlord responsibilities primarily Roof, Structure and Parking Lot only. Located in a major retail corridor with excellent visibility front Manatee Avenue, a major thoroughfare that connects you to Anna Maria Island and I-75.
This sale if for the building and improvements only subject to a ground lease that expires June 30th, 2060.
|
Additional Details
| Nearest MSA: |
North Port-Sarasota-Bradenton |
| County: |
Manatee |
| Taxing Authority: |
Manatee County |
| Tax ID/APN: |
3801610559 |
| Retail Clientele: |
General, Family, Traveler |
| Property Located Between: |
Downtown Bradenton and Anna Maria Island |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Manatee Avenue/ SR 64 |
| Feet of Frontage: |
177 |
| Highway Access: |
I-75 Approximately 7 miles from the subject |
| Airports: |
Sarasota Bradenton International Airport |
| Area Description: |
Major Retail corridor. Subject is an infill location surrounded by Residential development. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
1,688 SF |
| Property Condition: |
Excellent |
| Year Built: |
2009 |
| Roof Type: |
Flat |
| Construction/Siding: |
Block, Concrete |
| Total Parking Spaces: |
35 |
| Parking Ratio: |
5.1 (per 1000 SF) |
| Parking Type: |
Surface |
| Parking Description: |
Surface parking surrounding the building with additional overflow parking in the plaza parking lot |
| Heat Type: |
Electricity |
| Heat Source: |
Heat Pump |
| Internet Access: |
Cable, DSL |
| Zoning Description: |
CG - Commercial General |
| Lot Frontage: |
177 |
| Lot Depth: |
282 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Ingress/Egress, Utilities |
| Land Ownership: |
Ground Lease |
| Legal Description: |
Contact Listing Agent |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
11,687 |
80,991 |
161,197 |
| Median Age: |
53.53 |
47.06 |
44.43 |
| Households: |
5,300 |
36,363 |
69,067 |
|
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