3333 N Washington Blvd

Retail-Commercial for Sale
Catylist Listing ID: 30717901
Property Subtypes: Retail-Pad
Building Size (RSF): 13,540 SF
Gross Land Area: 1.05 Acres
Sale Price: See Agent
Ceiling: 12 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Spyglass Plaza
Usable Size (USF): 13,540 SF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 639
Last Updated: 7/19/2021

Overview / Comments

With two long term tenants and secure, bankable, leases, this property is an excellent investment.
Leases are true triple net.
All leases have over three years term and multiple renewal options, assuring continued 100% occupancy for the next 15 years for a conscientious property owner.
Sale is cash to seller, however seller will consider financing at 5.5% with a significant down payment and agreeable terms.

Tenants have been in place over ten years each, renewed, remodeled and expanded.
The landlord has never missed, or even had a late payment, through the entire COVID pandemic.
Solid CAP rate with guaranteed growth as rents escalate.
A property and location you can be proud to own.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 2020080121
Zoning: CI, COMMERCIAL INTENSIVE
Retail Clientele: Business
Property Located Between: 34th St & 33rd St
Property Visibility: Excellent
Largest Nearby Street: US-301, US-41, I-75
Feet of Frontage: 187
Traffic/Vehicle Count: 45,698
Highway Access: US-301, US-41, I-75
Airports: Sarasota-Bradenton (SRQ)
Site Description: This well established center is situated just feet from the WaWa at Myrtle Ave. It is located on one of Sarasotas busiest street, less than one quarter mile from the Sarasota Airpark. In addition the property is less than one mile from the Ringling museum. With Lakewood Ranch continuing to grow toward Bradenton, this site is perfectly situated. The demographics growth combined with almost five years with no vacancy and below market rents make this property an exceptional opportunity.
Area Description: Tenants have been in place over ten years each, renewed, remodeled and expanded. The landlord has never missed, or even had a late payment, through the entire COVID pandemic. Solid CAP rate with guaranteed growth as rents escalate. A property and location you can be proud to own.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1988
Year Renovated: 2020
Roof Type: Other
Construction/Siding: Concrete, Stucco
Exterior Description: Stucco finished modern building
Total Parking Spaces: 44
Parking Ratio: 3.4 (per 1000 SF)
Parking Type: Surface
Parking Description: paved parking lot
Sprinklers: None
Heat Source: Central
Interior Description: Fully fit out and finished
Zoning Description: CI, Commercial Intensive
Lot Frontage: 187
Lot Depth: 210
Land Ownership: Corporation
Legal Description: LOTS 12 13 14 15 16 17 18 19 20 21 22 23 & VAC ALLEY BLK B LESS A STRIP OFF E SIDE OF LOTS 16 17 18 & 19 FOR ROW IN OR 898-546, LESS ADDITIONAL R/W FOR US 301, NEWTOWN HIGHLANDS

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,626 71,994 178,804
Median Age: 35.17 44.45 46.92
Households: 3,801 31,721 79,948
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