Priceless Longboat Key Retail on Gulf of Mexico Drive

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30266323
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Status: Pending
Building Size (RSF): 12,338 SF
Gross Land Area: 2.21 SF
Sale Price: $1,350,000
Unit Price: $109.42 PSF
Property Use Type: Investment
Building Name: North Key Plaza & Village Plaza
Usable Size (USF): 12,338 SF
Sale Terms: Other
Last Updated: 9/19/2018

Overview / Comments

Rare opportunity to purchase two contiguous parcels with 3 retail buildings on Longboat Key. This property is a well positioned commercial parcel that is under utilized and has a lot of potential. Two awesome elements to note, both parcels abut the canal on the east side of the property and both enjoy deeded access to the amazing beach across the street. 5620 GMD (aka Village Plaza) is comprised of 2 small commercial buildings totaling 3,776/SF of which only one is being occupied. 5610 GMD (aka North Key Plaza) is comprised of 1 strip center that is 8,562/SF and is partially occupied. There is currently a vacant restaurant space in an area that needs more dining and has the supporting parking. The property has the potential to be redeveloped in the future.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 7958800109 & 7951800007
Zoning: C1
Retail Clientele: General, Business
Property Located Between: Tarawitt Dr. & St. Judes Dr. on Gulf of Mexico Dr.
Property Visibility: Good
Largest Nearby Street: Gulf of Mexico Drive
Highway Access: US-41 (Tamiami Trail)
Airports: SRQ
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 769 8,922 68,194
Median Age: 67.68 52.25 50.42
Households: 429 4,506 33,083
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