Starbucks Anchored Retail Plaza
Retail-Commercial
for Sale
| Catylist Listing ID: |
30704280 |
| Property Subtypes: |
Free-Standing Building, Street Retail
|
| 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: |
2/8/2021 |
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 |
|
© Copyright 2001-2020 Catylist. All Rights Reserved.
The information presented herein is provided as is, without warranty of any kind.
Neither My Florida Commercial Real Estate nor
Catylist Real Estate Software, Inc. assume any liability for errors or omissions.
|
