Catylist ID:
#30717901
| 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: | 11/28/2022 |
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. |
Attachments & Media
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 |
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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