100% Leased 5.3 Cap Office Investment Property!

Office for Sale
Catylist Listing ID: 30813086
Property Subtypes: Medical, Net Leased, Office Building
Building Size (RSF): 5,616 SF
Gross Land Area: 0.32 Acres
Sale Price: $1,100,000
Unit Price: $195.87 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Class of Space: Class B
Usable Size (USF): 4,896 SF
Sale Terms: Cash to Seller
Cap Rate: 5.3%
Average Occupancy Rate: 100
Last Updated: 8/10/2022

Overview / Comments

In a market environment where very little inventory is left, we are delighted to bring this amazing asset to market. This parcel is a longstanding downtown core office building which is now completely filled with tenants and generating solid and dependable income streams for any savvy investor looking for a secure annual return.

No-nonsense construction, low hassle upkeep and low maintenance tenants equal a worry-free downtown investment in an area that has been seeing steady and predictable value growth year over year as Downtown Bradenton continues to explode in revitalization!

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $7,043 (Annual)
Tax Value Land $77,500
Tax Value Improvements $380,351
Tax Value Personal Property $394,330
Assessed Value - Total($) $394,330 (Annual)
Potential Rental Income $73,440 (Annual)
Net Operating Income $58,240 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: City of Bradenton
Tax ID/APN: 4347400006
Zoning: T5 URBAN
Property Located Between: Corner of 9th Ave. W. and 12th St. W. in Downtown Bradenton
Property Visibility: Excellent
Highway Access: SR 64 to I-75
Airports: Bradenton-Sarasota, St. Pete-Clearwater, Tampa International
Site Description: Located at the entrance to the Village of the Arts district on the southern edge of downtown Bradenton
Area Description: Located at the entrance to the Village of the Arts district on the southern edge of downtown Bradenton
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,616 SF
Year Built: 1984
Year Renovated: 2002
Roof Type: Flat
Construction/Siding: Block
Exterior Description: Block Construction with stucco finish
Parking Type: Surface
Parking Description: 16 Spaces shared
Total Parking Spaces: 16
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Typical Office Finishes
Zoning Description: T5 Urban - City of Bradenton
Lot Frontage: 171
Lot Depth: 80
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: RADABAUGH FAMILY TRUST LLC
Legal Description: THE W1/2 OF THE FOLL DESC LAND, LESS THE S 15.0 FT; COM 477.3 FT W OF THE NE COR OF THE NE1/4 OF NW1/4 OF SEC 35, TH S 26.5 FT M/L TO THE S R/W LN OF 9TH AVE W FOR A POB; TH W ALG THE SD S R/W LN, A DIST OF 159.95 FT TO THE E R/W LN OF 12TH ST W; TH S ALG SD E R/W LN, A DIST OF 190.20 FT TO THE N LN OF A PRESTON BOYDS SUB, TH E ALG SD N LN, A DIST OF 160.95 FT; TH N 188.55 FT TO POB PI#43474.0000/6

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,681 99,281 192,698
Median Age: 37.67 41.03 43.21
Households: 5,730 40,587 80,602

Contact

Photograph of Listing Agent

Darrin Joseph Desmarais

MICHAEL SAUNDERS & COMPANY MFCRE Member
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