Ringling Professional Ctr 220F Office Condo

Office for Sale
Sale Pending
Catylist Listing ID: 30648483
Property Subtypes: Business Park
Status: Pending
Condo? Yes
Building Size (RSF): 635 SF
Sale Price: $119,900
Ceiling: 8 ft.
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Building Name: Ringling Professional Center 220F
Class of Space: Class B
Usable Size (USF): 635 SF
Core Factor: 99%
Sale Terms: Cash to Seller
Cap Rate: 5.0%
Average Occupancy Rate: 100
Last Updated: 2/23/2021

Overview / Comments

Location, location, location. Fabulous office space with reception area, 2 private bathrooms, 2 balconies and 3 offices just 2 miles from 5 Points in downtown Sarasota. Perfect for small businesses seeking brick and mortar and established presence in the local community. The campus of the Ringling Professional Center is a visual landmark on the southside of Fruitville Road with the Sarasota Fairgrounds on the eastern border and Tuttle Ave on its western border. Six separate building number A through F house 45 separate office suites, Unit 220 is located on the 2nd floor of the F building. The entrance to F building faces Fruitville Road with balconies of Unit 220 receiving eastern sunlight and southwestern sunlight. The interior is cheerful and bathed with lots of natural light. The condo fee is paid quarterly and include the exterior of the building, elevators, landscape/irrigation maintenance, campus trash, exterior pest control, along with water and sewer. Unit owners are responsible for the windows and doors, their unit's electricity usage, internet phone and signage on the front door. The balconies per deed restrictions, may not be screened. In addition, each unit has 3 locations where their business name is posted: main directory, by building's elevator and exterior front entrance of the respective building. Now is a fabulous time to own your space and stop paying rent. Opportunity knocks. Private showings by appointment.

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $1,268 (Annual)
Potential Rental Income $12,600 (Annual)

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Submarket/Township: Sarasota CBD
Submarket Type: Central Business District
Taxing Authority: City of Sarasota
Tax ID/APN: 2031-04-1044
Is Condo?: Yes
Zoning: COMMERCIAL NEIGHBORHOOD
Property Located Between: Fruitville Road between Tuttle and Brink
Property Visibility: Excellent
Highway Access: Fruitville Road and Ringling Blvd
Airports: Sarasota Bradenton International Airport or Tampa International
Site Description: Private 2nd floor office condo suite building F on the Ringling Professional campus. Ringling Professional campus is 3.35 acres with six separate buildings consisting of 45 independently owned office suites.
Area Description: Fruitville Rd (St RD 780) frontage which is a major road from the Sarasota Downtown Bayfront east to rural Myaaka City. Easy access to downtown Sarasota north/south access roads and I 75. A great location to think, plan and work.
Typical SF / Floor: 635 SF
Year Built: 1981
Roof Type: Hip
Construction/Siding: Block, Stucco
Exterior Description: Stucco cement based masonry walls, hip with some gable roof. Roof cover: Metal, Galvanized.
Parking Ratio: 3 (per 1000 SF)
Parking Type: Surface
Parking Description: Open parking
Total Parking Spaces: 3
Passenger Elevators: 1
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: Efficient interior space with reception area, small waiting area, 2 offices similar size and 1 larger office/conference area. Two private restrooms and 2 private balconies. Lots of natural light. Nice floor plan and room flow.
Zoning Description: CN/Commerical Neighborhood Opportunity Zone
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Condo
Land Ownership: Condominium
Legal Description: Unit 220 Ringling Professional Center Phase 3

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,576 100,158 180,940
Median Age: 41.33 45.38 47.43
Households: 6,397 44,664 81,794

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