9 Unit Strip Center 41

Retail-Commercial for Sale
Sale Pending
Also listed as Shopping Center
Catylist Listing ID: 30496597
Property Subtypes: Free-Standing Building, Retail-Pad, Street Retail, Other
Status: Pending
Building Size (RSF): 8,800 SF
Gross Building Area: See Agent
Sale Price: $999,900
Unit Price: $113.63 PSF
Property Use Type: Investment
Building Name: North Port Square
Sale Terms: Cash to Seller
Cap Rate: 6.14%
Last Updated: 7/29/2021

Overview / Comments

American Property Group of Sarasota, Inc is proud to present, 14525 S Tamiami Trail, North Port, FL 34287:

Property type: 9 Unit Strip Center

Size: 8,800 SF

Highlights: MASSIVE PRICE REDUCTION! Sellers Are Motivated!

Located in the heart of North Port, just off the city's "Golden Mile", this 9-unit Retail Strip Center offers premium exposure to US41/Tamiami Trail with 200 front ft., excellent traffic counts and easy ingress/egress.

A recently updated exterior and partially remodeled units with a great mix of tenants, this property makes for a solid investment. Major upside potential exists as current rental rates are below market value. Only one vacant unit remains!

Please see Sales Brochure for Projected NOI for 2020. Please note that the projected NOI for 2020 does NOT include Unit #1 as being rented!

Recent upgrades include a new roof, updated signage, a freshly painted exterior, newly sealed sidewalks, new fire alarm system and more. Plenty of parking spaces for employees and customers with a private, one-way road to the rear of the property making for easy deliveries and possible truck access.

Ideally situated between North Port Blvd. and Sumter Blvd., this property is surrounded by residential rooftops with new commercial developments in the works including big-box retailers, restaurants, a new hotel, shopping, and more. Minutes from major attractions including "Warm Mineral Springs”, the new Atlanta Brave's "Cool Today Park" and less than 10 minutes to I-75. See the attached Sales Brochure for income and expenses. This area of North Port is BOOMING and will only continue to grow. Contact listing agent for your private tour today!

Visit us online at www.AmericanPropertyGroup.com to see all our listings or call (941)923-0535 at your convenience.

Financials

Finance Data Year 2020
Gross Operating Income $92,856 (Annual)
Net Operating Income $67,272 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0999034628
Zoning: CG
Property Located Between: North Port Blvd. and Sumter Blvd.
Property Visibility: Excellent
Largest Nearby Street: Tamiami Trail/US41
Feet of Frontage: 200
Traffic/Vehicle Count: 34,500
Highway Access: Direct Access to US41
Airports: Punta Gorda Airport - 27 miles
Area Description: One of Southwest Florida's fastest-growing communitie and boasting a population of almost 69,000 people and over 3.5% growth year-over-year, North Port has cemented its place as one of Florida's most desirable communities for working-class families. With highly sought after tourist destinations such as Warm Mineral Springs and the Atlanta Brave's Spring Training facility, North Port continues to draw attention year-round. With a land area of 99.42mi² and a water area of 4.76mi², North Port offers plenty of opportunity for boating, fishing, kayaking, camping and much more! North Port is BOOMING with new developments along the US41 Corridor including both Commercial and Residential uses to support the growing population.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1990
Total Parking Spaces: 37
Parking Type: Surface
Zoning Description: CG, Commercial General
Lot Frontage: 200
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,358 37,242 58,539
Median Age: 56.23 48.99 46.48
Households: 4,016 16,208 24,324

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