Medical Office

Office for Sale
Catylist Listing ID: 30707924
Property Subtypes: Executive Suites, Medical, Net Leased
Building Size (RSF): 9,164 SF
Gross Building Area: 9,840 SF
Gross Land Area: 1.01 Acres
Sale Price: $1,250,000
Unit Price: $136.40 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Gulf Professional Center
Class of Space: Class B
Usable Size (USF): 9,164 SF
Sale Terms: Cash to Seller, Owner Financing, Sale/Leaseback
Cap Rate: 7.9%
Average Occupancy Rate: 78
Last Updated: 2/16/2021

Overview / Comments

The median age in Englewood is 67, compared to the national average of 38. Being a retirement community, medical expenditures spending is much higher than the national average. Population growth is expected within the five-mile radius of the property. An apartment complex is being planned down the street as well as 800 new homes for the next couple of years.
The property has more than 300 square feet of frontage along Englewood Road and 180 feet of frontage on Keyway Road. The property consists of two parcels. The first parcel encompasses the units as well as parking for units 1-4. Unit 5 is a separate, attached, one-story building with an adjacent parking lot (parcel 2) and good visibility from Englewood Road.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0485 03 1001
Zoning: OPI/OFFICE,PROFESSIONAL INSTITUTIONAL
Property Visibility: Excellent
Site Description: Completely renovated (inside and outside) in 2015: metal roof, 5 A/C, plumbing, interior, etc.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1989
Year Renovated: 2015
Roof Type: Hip
Construction/Siding: Concrete
Exterior Description: Stucco
Parking Type: Surface
Parking Description: 20 parking spots
Total Parking Spaces: 20
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: OPI/OFFICE, PROFESSIONAL INSTITUTIONAL
Lot Frontage: 160
Lot Depth: 130
Water Service: Municipal, Well
Sewer Type: Septic
Legal Description: UNITS 1, 2, 3, 4 & 5, CENTURY PLAZA

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,944 19,654 52,466
Median Age: 64.92 58.25 59.01
Households: 1,018 9,612 26,094

Contact

Photograph of Listing Agent

Marina V Solo, PA

KW SUNCOAST MFCRE Member
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