Downtown Sarasota Free Standing Building

Office for Sale
Catylist Listing ID: 30366967
Property Subtypes: Office Building
Building Size (RSF): 6,690 SF
Gross Building Area: 7,388 SF
Gross Land Area: 9,930 SF
Sale Price: $1,250,000
Unit Price: $186.85 PSF
Ceiling: 8 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: To Be Named
Class of Space: Class B
Usable Size (USF): 6,690 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/12/2019

Overview / Comments

Rarely available free standing office building in burgeoning Downtown Sarasota. Perfect owner investor opportunity with 4 separate units averaging 1645 SF in the building. Flexible units that can be divided up to 8 units with individual restrooms. Property is located one block south of Fruitville Road and 2 blocks north of busy Main Street. 16 parking spaces with overflow adjacent street parking. Bonus value in the land in the Downtown Core district which allows up to 10 floors for new development.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $12,619 (Annual)
Potential Rental Income $127,110 (Annual)
Gross Operating Income $127,110 (Annual)
Net Operating Income $100,350 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 2026150076
Zoning: DTC - DOWNTOWN CORE
Property Located Between: Fruitville and Main Street
Property Visibility: Excellent
Highway Access: Fruitville to I-75
Airports: Sarasota Bradenton International Airport
Site Description: Highly Visible Corner Location next the The Hub and Suntrust Bank
Area Description: Downtown Core surrounded by residential, office and retail development.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,345 SF
Year Built: 1986
Roof Type: Flat
Construction/Siding: Concrete
Parking Description: 16 surface parking spaces plus ample street parking next to building
Total Parking Spaces: 16
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: 4 to up to 7 spaces if desired. Each space has its own restroom with offices.
Zoning Description: DTC - Uses allow for office, retail and residential. Contact listing agent for more details.
Lot Frontage: 115
Lot Depth: 86
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: LOTS 19 & 20 BLK 2 CENTRAL PARK UNIT 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,490 76,910 167,876
Median Age: 46.81 45.03 47.92
Households: 6,397 34,349 76,869

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