Restaurant

Retail-Commercial for Sale
Catylist Listing ID: 30519116
Property Subtypes: Restaurant
Building Size (RSF): 3,702 SF
Gross Building Area: 2,720 SF
Gross Land Area: 12,646 SF
Sale Price: $799,000
Unit Price: $215.83 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 6.49%
Last Updated: 9/9/2021

Overview / Comments

Excellent investment opportunity in one of the most in demand areas in SW Florida. This is a fully leased restaurant on Dearborn St. in Englewood. The property was completely renovated in 2011 and is in excellent condition. Building is on two lots with the extra lot providing excellent parking (could also be utilized for future expansion). There is also street parking along New York Ave. Tenant has been in place approximately 5 years and recently signed a new 3 year lease (expires 6/30/22). Tenant pays base rent, utilities, all maintenance and insurance. Capitalization based on the list price is 6.49% All information provided is subject to confirmation by the buyer. This property may be available for owner occupancy prior to the expiration of the lease. If you have an interest in occupying the building and operating a restaurant, let's talk.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0503010001
Zoning: CG
Retail Clientele: General, Business, Traveler, Tourist
Property Visibility: Excellent
Tenancy: Single Tenant
Property Condition: Excellent
Year Built: 1957
Year Renovated: 2011

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,265 20,553 37,245
Median Age: 60.91 63.17 60.84
Households: 2,847 10,818 18,831

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