INVESTOR OR OWNER/USER

Retail-Commercial for Sale
Catylist Listing ID: 30353557
Property Subtypes: Mixed Use, Vehicle Related, Other
Building Size (RSF): 2,070 SF
Gross Building Area: See Agent
Gross Land Area: 7,223 SF
Sale Price: $319,000
Unit Price: $154.11 PSF
Ceiling: 16 ft.
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 0.08%
Average Occupancy Rate: 100
Last Updated: 11/7/2019

Overview / Comments

Excellent Occupancy history because automotive sites are difficult to find in Sarasota, especially with direct frontage on a major East-West traffic artery. And this one is convenient to the Downtown Core, SRQ and I-75.

Tenant rents 2 buildings. The front building, 1050sf & built in 2015, has 2 bays with the Tenant's hoists, 16ft clearance. He also rents the rear building, 1020sf, which has 2 Bays, and has an office and a bathroom with a shower. The hoist in the rear building is included in the sale.

This is great opportunity to Buy a property that is basically trouble free on auto pilot. Current Tenant’s lease is from 2015 to Oct. 2019 although he has assured the Seller he wants to renew. The Lease requires option years to be negotiated with the Buyer. Rent increase Potential.

Adjacent property (Auto Rental) also for sale offered at $298,900. +/- 2 years left on the lease.

Easement Document will be provided by the Seller.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Submarket Type: Central Business District
Taxing Authority: City of Sarasota
Tax ID/APN: 2024160018
Zoning: ICD - INTENSIVE COMMERCIAL DISTRICT
Retail Clientele: General, Family, Business, Traveler, Tourist, Other
Property Located Between: Behind the Hob Nob restaurant at N. Washington Blvd and 17th Street
Property Visibility: Excellent
Largest Nearby Street: N Washington Blvd
Feet of Frontage: 100
Highway Access: I-75 is 12- 15 minutes east.
Airports: Sarasita-Bradenton
Area Description: This property is located directly behind (west) the HOB NOB restaurant and across the street (north) of Wendy's which are both on the corner of N. Washington Blvd and 17th St. and across the street from UPS. 17th St has become a very popular east to west thoroughfare in this part of the City.
Tenancy: Multiple Tenants
Number of Stories: 3
Property Condition: Good
Total Parking Spaces: 29
Parking Type: Surface
Parking Description: See Photos
Interior Description: SEE OVERVIEW
Zoning Description: ICD - Intensive Commercial District
Lot Frontage: 100
Lot Depth: 144.5
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 1967 17th St - LOT 17 BLK H CITY PARK 1973 17th St - LOT 19 BLK H CITY PARK

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,751 81,139 169,446
Median Age: 33.04 44.97 47.61
Households: 5,730 36,054 76,869

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