Fruitville Corridor Investment Opportunity

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30769299
Property Subtypes: Office Building
Status: Pending/Contingent
Condo? Yes
Building Size (RSF): 3,051 SF
Sale Price: $699,000
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Franklin Field
Sale Terms: Cash to Seller
Cap Rate: 7.2%
Average Occupancy Rate: 100
Last Updated: 12/3/2021

Overview / Comments

Great investment opportunity located in the desirable Fruitville corridor only minutes from downtown Sarasota, with easy access to I-75. The subject property consists of 3 contiguous office condo units in Franklin Field Business Center, comprising the entire building at 328 N. Rhodes Ave. Franklin Field is a well-maintained professional office condo association with a total of 4 separate buildings.

The property is currently leased to a practicing law office, and the interior of the space has quality finishes throughout. Great layout with 7 interior offices, 2 conference rooms, 2 kitchens, and several open workspaces. The property also has long-term flexibility with the option of subdividing into 3 separate units.

Please contact agent for additional information on this opportunity.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0000008496
Is Condo?: Yes
Zoning: OCD - OFFICE COMMUNITY DISTRICT
Property Visibility: Fair
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 2007
Construction/Siding: Concrete
Parking Type: Surface
Air Conditioning: Engineered System
Zoning Description: OCD - OFFICE COMMUNITY DISTRICT
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,059 96,568 184,514
Median Age: 40.65 45.1 47.45
Households: 6,130 42,748 83,288

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