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

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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

Photograph of Listing Agent

Ron A Struthers, PA

COLDWELL BANKER COMMERCIAL NRT
MFCRE Member
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