Catylist ID:
#30841039
Wellen Park Professional Center 6% Cap Rate
Office
for Sale
| Catylist Listing ID: | 30841039 |
| Property Subtypes: | Business Park, Medical, Office Building, Other |
| Building Size (RSF): | 10,980 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 49,113 SF |
| Sale Price: | $3,750,000 |
| Unit Price: | $341.53 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Net Leased Investment (NNN), Investment, Business |
| Building Name: | Wellen Professional Park |
| Class of Space: | Class B |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 6.15% |
| Last Updated: | 5/27/2023 |
Overview / Comments
|
The Wellen Professional Park is located on the highly-trafficked US 41 Tamiami Trail, in the quickly-growing area of North Port just a short drive from Wellen Park and the Spring training home of the Atlanta Braves. Offering up to 10,938 sq.ft. of pristine office space. The completely modernised and renovated building with big bright hurricane rated windows boasts flexible tenant spaces and high visibility opportunities in a convenient location off of US41. Perfect for Medical and / or Corporate Offices. Completely renovated to Class B office space in 2023. Completely Modernized facade and appealing entrances! New Hurricane rated Windows, New Roof, New Landscaping and HVAC & Plumbing updated! High Visibility, Signage and Ample Parking Lush tropical landscaping surrounds the exterior and plenty of windows create add an open and tranquil atmosphere to the workspace. Currently 50% Leased - When Fully Leased: 10,980 sqft x Avg Net of $21/Sq.Ft. = NOI of $230,580 Sales Price of $3,750,000 Cap Rate of 6.15% |
Attachments & Media
Additional Details
| Nearest MSA: | North Port-Sarasota-Bradenton |
| County: | Sarasota |
| Tax ID/APN: | 0791030008 |
| Property Located Between: | Just South of Wellen Park / River Rd on Tamiami Trial (US$!) |
| Property Visibility: | Excellent |
| Highway Access: | On US 41 |
| Site Description: | .Wellen Park Professional Center has risen to become one of areas foremost business addresses, offering an updated modern Class B office spaces close to the coveted Wellen Park area. |
| Area Description: | Easy access from Venice and North Port and ample on-site parking Convenient access to North Port's / Venice major employment centers and is highly accessible for incoming visitors. Minutes from Wellen Park and brand new Atlanta Braves Spring Training Center Unmatched location in North Port on Tamiami Trail (US41) and easy access to I75 |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Year Renovated: | 2023 |
| Roof Type: | Flat |
| Construction/Siding: | Block |
| Exterior Description: | Completely renovated to Class B office space in 2023. Completely Modernized facade and appealing entrances! New Hurricane rated Windows, New Roof, New Landscaping and HVAC & Plumbing updated! |
| Parking Type: | Surface |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 6,555 | 26,575 | 52,361 |
| Median Age: | 55.83 | 52 | 50.4 |
| Households: | 3,252 | 12,206 | 22,988 |
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