Catylist ID:
#30627874
7.5% CAP North Port Investment Property
Office
for Sale
| Catylist Listing ID: | 30627874 |
| Property Subtypes: | Office Building |
| Building Size (RSF): | 6,000 SF |
| Gross Building Area: | See Agent |
| Sale Price: | $1,120,000 |
| Unit Price: | $186.67 PSF |
| Property Use Type: | Net Leased Investment (NNN), Investment |
| Class of Space: | Class A |
| Sale Terms: | Cash to Seller, Other |
| Cap Rate: | 6.25% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 2/13/2021 |
Overview / Comments
|
NNN investment opportunity in Sarasota County with 7.5% CAP. Freestanding office condominium building located in Toledo Blade Professional Center, off of Toledo Blade Blvd. Located among other small professional and medical offices. The tenant is Progressus Therapy, LLC. PROPERTY HIGHLIGHTS • 5 Year Lease • 3% annual base escalation rate • Tenant has 2 options to renew the lease for 5 years each with 3% annual increases to base rent • Pass-Through expenses will be capped at 4% annually • Year 1 gross income $108,000 • Year 1 pass-through expenses $24,000 • Year 1 net operating income $84,000 • CONTACT KAYLA WEISS (941) 268-4423 FOR MORE INFORMATION |
Attachments & Media
Financials
| Finance Data Year | 2020 |
|---|---|
| Gross Operating Income | $108,000 (Annual) |
| Net Operating Income | $84,000 (Annual) |
| Actual or Proforma Year | Actual |
Additional Details
| Nearest MSA: | North Port-Sarasota-Bradenton |
| County: | Sarasota |
| Tax ID/APN: | 0000008191 |
| Property Located Between: | Located off Toledo Blade and Commerce Parkway |
| Property Visibility: | Good |
| Highway Access: | I 75 and Tamiami Trail |
| Site Description: | This is a stand-alone building which is part of a multi Building professional Office complex Association fees( included in Passthroughs ) covers all exterior maintenance and repairs of the structure and all parking and landscaping of the community |
| Area Description: | The city of North Port is a Positive place for business where the community works with new and existing business |
| Roof Type: | Barrel Shell |
| Construction/Siding: | Block |
| Parking Type: | Surface |
| Heat Source: | Central, Heat Pump |
| Air Conditioning: | Engineered System |
| Internet Access: | Cable |
| Interior Description: | Building Interior is built out for the Tenant's needs who has expanded from a smaller location. Interior in excellent condition new construction |
| Part of Planned Development?: | Yes |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | condo association |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 37,482 | 61,613 |
| Median Age: | 38.03 | 42.65 |
| Households: | 13,699 | 24,105 |
Contact
Ron A Struthers, PACOLDWELL BANKER COMMERCIAL NRTMFCRE Member |
| © 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. |
