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.

• 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

Attachments & Media


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


Photograph of Listing Agent

Ron A Struthers, PA

MFCRE Member
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