Retail Strip Center Off of US 301

Retail-Commercial for Sale
Catylist Listing ID: 28838001
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 6,036 SF
Gross Building Area: 6,272 SF
Gross Land Area: 19,682 SF
Sale Price: $995,000
Unit Price: $164.84 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: 7.78%
Last Updated: 9/25/2018

Overview / Comments

5 Unit Neighborhood Strip Center located on N. Washington Blvd. (US 301) near the intersection of Fruitville Rd. N. Washington Blvd. is one of the busiest North/South thoroughfares in Sarasota with an AADT count of 31,500 in this area. This plaza is located directly off of US 301 and has plenty of frontage and signage. Currently there are some small neighborhood businesses in place, including the popular Two Amigo's Restaurant. Also included is the 1,036 SF free-standing building behind the plaza at 2011 4th St and additional parking with the address of 2017 4th St. All tenants are on short-term or month-to-month leases to allow the possibility of redeveloping the property. Tenants are willing to sign a longer term lease if desired.

Additional Details

Nearest MSA: North Port-Bradenton-Sarasota
County: Sarasota
Tax ID/APN: 2026090135
Zoning: DTE
Market Type: Medium
Retail Clientele: General, Family, Business
Property Located Between: 4th St. and 5th St.
Side of Street: East
Road Type: Paved, Highway
Property Visibility: Excellent
Largest Nearby Street: N. Washington Blvd.
Feet of Frontage: 104
Traffic/Vehicle Count: 36,000
Transportation: Bus, Highway, Airport, Taxi, Other
Highway Access: Directly on US-301 and 5 miles from I-75 on Fruitville Rd.
Site Description: Property includes six retail stores directly on US-301/N. Washington Blvd and two parcels on 4th St. 2011 4th St features a 1,036 SF building perfect for an office.
Area Description: N. Washington Blvd. (US 301) near the intersection of Fruitville Rd. just north of the downtown Sarasota corridor. Close to the Hollywood 20 theater, Main St., Main Plaza and the new Staples.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1957
Year Renovated: 2007
Roof Type: Flat
Construction/Siding: Concrete
Exterior Description: Renovated in 2007 to add Retro 50's style fins to the outside of the building. Also, painted peach and turquoise that really draws attention from 301. Building at 2011 4th St. was recently repainted yellow and has stucco on the outside.
Parking Type: Surface
Heat Type: Electricity
Heat Source: Ceiling Units
Air Conditioning: Other
Interior Description: Besides the restaurant Two Amigos, you can mold the interior for any of the three open spots to anything you would like.
Zoning Description: The Downtown Edge (DTE) district is a densely mixed-use area typically located along a pedestrian way or a thoroughfare road within a neighborhood. Residential dwellings may be single-family or multiple-family and may include mixed-use structures that provide for live-work opportunities. Residential dwellings may be built to a maximum density of 25 dwelling units per acre. A variety of nonresidential uses are allowed everywhere with ground floor retail mandatory on certain designated frontages. Building heights shall be limited to a maximum of five stories. Building frontages include stoops, forecourts and storefronts.
Lot Frontage: 104.5

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,658 84,077 171,563
Median Age: 41.1 44.98 47.92
Households: 5,865 37,259 78,396


Photograph of Listing Agent

Brett Kaplan

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