Multi-Building Investment Opportunity - Car Repair/Sales, Window Tint

Retail-Commercial for Sale
Catylist Listing ID: 30258347
Property Subtypes: Free-Standing Building, Vehicle Related
Building Size (RSF): 6,776 SF
Gross Land Area: 15,935 SF
Sale Price: $1,400,000
Unit Price: $206.61 PSF
Property Use Type: Investment
Usable Size (USF): 6,776 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 11/20/2018

Overview / Comments

Two properties combined as one 100% tenant occupancy with an estimated 6% cap rate! One side with auto repair/sales space (approx 4500+ sq ft) and the other side with window tint space (approx 2200 sq ft). Parking for approx 25 cars in front lot and 10 cars in rear lot. Direct frontage facing major East-West traffic artery Bee Ridge Road linking I75 to US41 and points North-South including Sarasota Hospital, core downtown business/shopping/dining areas, and onward up to SRQ airport. Auto repair/sales space leases for approximately $5500/mo and includes management admin office, customer waiting area with interior private restroom and large service bay garage area with eight 16' roll-up doors (front and rear), three hydraulic lifts, dedicated warehouse area to one side for parts storage. Auto window tint space leases for approximately $3000/mo (market rate could dictate higher) and includes management admin office, customer waiting area with interior private restroom and large service bay garage area with dedicated warehouse area to one side for parts storage. Modified tenant gross lease price includes CAM contribution for any potential shared utilities and RE taxes. Tenant to provide all direct utilities, trash/disposal, cable, internet, telephone services. etc. Secure facility with electronic property surveillance, access/alarm systems. Confidentiality/NDA required for more details and showings.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota
Tax ID/APN: 0057140016 and 0057140017
Zoning: CG
Retail Clientele: General, Other
Property Located Between: Beneva Rd and US41
Property Visibility: Excellent
Largest Nearby Street: Bee Ridge Rd
Feet of Frontage: 100
Highway Access: Positioned on Bee Ridge Road between I75 and US41/Tamiami Trail
Airports: Sarasota International Airport (SRQ)
Site Description: Easy access with dual curb cutouts leading to front parking lots along Bee Ridge Road. Additional access via Lime Ave (corner street) and Hammond Place to the rear of the location.
Area Description: Property is located in General Commercial zoning comprised of stand alone buildings and strip centers along Bee Ridge Road.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Good
Year Built: 1967
Year Renovated: 1986
Roof Type: Flat
Construction/Siding: Block, Stucco
Exterior Description: Bright yellow paint for extreme visibility on busy Bee Ridge Road
Parking Type: Surface
Parking Description: Parking for approx 25 cars in front lot and 10 cars in rear lot. Side parking along Lime Ave.
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable, Satellite
Interior Description: Both units include air conditioned management admin office, customer waiting area with interior private restroom
Zoning Description: General Commercial
Lot Frontage: 100
Lot Depth: 180
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT 10 BLK A LESS R/W LYING S OF LINE 50 FT N OF S LINE TWP 36 OR 1643/0443 SOUTH GATE UNIT 3. LOT 9 BLK A LESS 8 20 FT FT FOR ROW IN OR 1723/222 SOUTH GATE UNIT 3.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,041 92,177 162,120
Median Age: 45.69 49.77 48.99
Households: 6,068 43,826 75,453

Contact

Photograph of Listing Agent

Michael K Grant, PA

EXIT DREAM TEAM REALTY MFCRE Member
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