2965 Bee Ridge Road: East-West Artery / Multi-Tenant Office Building 2

Office for Sale
Catylist Listing ID: 30277017
Property Subtypes: Executive Suites, Office Building
Building Size (RSF): 4,102 SF
Gross Building Area: 4,254 SF
Gross Land Area: 16,200 SF
Sale Price: $670,000
Unit Price: $163.33 PSF
Property Use Type: Investment
Building Name: 2965 Building
Class of Space: Class A
Usable Size (USF): 4,102 SF
Sale Terms: Cash to Seller
Cap Rate: 7.0%
Average Occupancy Rate: 98
Last Updated: 2/7/2019

Overview / Comments

Single story office building with outstanding frontage and visibility along major arterial roadway! One of two available multi-tenant Office Professional Institutional (OPI) buildings with 4254 total sq ft / 4102 usable sq ft (Parcel ID 0059-14-0001 [2965 Bee Ridge Rd] and Parcel ID 0059-14-0002 [2975 Bee Ridge Rd] totaling 10800 sq ft combined) with shared parking lot (40 spaces) located on one of Sarasota's major East-West traffic arteries connecting I-75 and US41. 100% occupancy with staggered tenant leases and an estimated 7% cap rate.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota
Tax ID/APN: 00590140001
Zoning: OPI
Property Located Between: North side of Bee Ridge Rd between S Lockwood Ridge Rd and S Tuttle Ave (east of US41)
Property Visibility: Excellent
Highway Access: Approximately 3.7 miles to I-75 entrance/exit from site. Approximately 1.3 miles to US41 from site.
Airports: Close proximity to Sarasota's SRQ Airport from Bee Ridge Rd and then north on US41 to University Parkway
Site Description: Direct frontage on major East-West Sarasota traffic artery (Bee Ridge Rd) connecting highway I-75 (exit/entrance) to primary North-South Sarasota thoroughfare US41 (Tamiami Trail). Approximately 1.3 miles to US41 and the Westfield Siesta Key Mall from site. Approximately 2.5 miles to Sarasota Memorial Hospital from site. Approximately 3.7 miles to downtown Sarasota (Main Street) from site. Approximately 3.7 miles to I-75 entrance/exit from site.
Area Description: Main arterial roadway (East-West) with mixed use of Retail, Office, Professional, Institutional, Multi-Family.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,102 SF
Year Built: 1982
Year Renovated: 2015
Roof Type: Hip
Construction/Siding: Block, Stucco
Exterior Description: Common access tenant entrances from street and parking lot. Nicely landscaped surroundings with well maintained parking area and a treed island at center of the parking area.
Parking Ratio: 3.2 (per 1000 SF)
Parking Type: Surface
Parking Description: Approximately 40 striped spaces with dedicated handicap shared between two building sites.
Total Parking Spaces: 40
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Currently configured for multiple tenants similar to executive suites with several individual office suites and others being quite large to accommodate bigger companies. Floor plan available.
Zoning Description: Office Professional Institutional (OPI)
Lot Frontage: 91
Lot Depth: 181
Water Service: Municipal
Sewer Type: Municipal
Legal Description: THE ELY 90 FT OF LOT 11 BLK 72 SOUTH GATE UNIT 18 (PID#: 0059140001)

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,791 97,422 171,445
Median Age: 46.2 48.7 48.54
Households: 7,881 45,632 78,754


Photograph of Listing Agent

Michael K Grant, PA

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