Investment Opportunity West of US-301

Industrial for Sale
Sale Pending
Catylist Listing ID: 30557186
Property Subtypes: Flex Space, Free-Standing, Mixed Use, Light Industrial, Office Showroom, Research & Development, Other
Status: Pending
Building Size (RSF): 24,157 SF
Gross Land Area: 54,678 SF
Sale Price: $3,585,000
Unit Price: $148.40 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/22/2020

Overview / Comments

AAA Class Building!! Located near downtown Sarasota! Excellent 1031 exchange investment opportunity. Investor cash on cash return of 7% net.

The building is newly constructed, in 2017, to meet the best hurricane codes/standards. Clean, modern design and layout. Fully air-conditioned building. Excellent ceiling height. Good parking for downtown building. Just a few blocks from the bustling Rosemary District. Very close to multiple restaurants, shops, and apartment housing.

The building is currently leased to two tenants, but can be further divided into three suites, with separate meters in place to divide accordingly. High tech businesses currently leasing. GetFPV distributes drones and parts for drones. The company occupies about 16,000 s/f. Borgart Laboratories is a biomedical firm and occupies about 8,000 s/f of space.

Fantastic Investment opportunity near downtown Sarasota!. Strong leases in place. Newer modern industrial building. Solid concrete construction.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Public Records
Tax ID/APN: 2025150017
Zoning: INTENSIVE COMMERCIAL DISTRICT
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Excellent
Year Built: 2017
Roof Type: Flat
Construction/Siding: Concrete
Zoning Description: ICD: intensive Commercial District
Legal Description: COM AT SELY COR OF LOT 14, BLK D, AMENDED PLAT OF PART OF TH SW 1/4 OF SE 1/4 OF SEC 18-36-19, KNOWN AS SKINNER & WALTON SUB TH S 02-07 E ALONG WLY R/W OF OSPREY AVE 373.7 FT TO NLY

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,127 76,370 167,195
Median Age: 40.08 45.39 48.06
Households: 6,750 34,177 76,429

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