Market Circle Industrial Warehouse Condo For Sale

Industrial for Sale
Catylist Listing ID: 30315575
Property Subtypes: Industrial-Business Park, Light Industrial, Warehouse/Distribution
Condo? Yes
Building Size (RSF): 2,300 SF
Gross Building Area: 9,300 SF
Sale Price: $221,000
Property Use Type: Vacant/Owner-User
Building Name: Kingston Plaza Building #2
Usable Size (USF): 2,295 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/11/2018

Overview / Comments

• 2,300 SF industrial warehouse for sale located in Kingston Plaza on Murdock Circle in the heart of Port Charlotte's industrial district.

• Property use as stated in the condo docs: Units shall be used for business, commercial or industrial offices, or warehouse space.

• Unit has 1 - 12' OHD.

• 225 SF of office space.
Condo Fees are $95 per unit per month
Re tax $2,509
Current Tenant is on a Month to Month rental @ $1,200 per month
Rent is below market rent

Current Tenants

Is Renting? Yes
Annual Revenue $14,400 (Annual)
SF of Space Occupied 2,300 SF
Current Rent $1,200 PSF (Annual)
Tenant Notes tenant is paying $1,200 a month $6.26 SF Gross this about $1.50 to $2.00 below market rent

Additional Details

Nearest MSA: Punta Gorda
County: Charlotte
Taxing Authority: Charlotte
Tax ID/APN: 402207553000
Is Condo?: Yes
Zoning: IG
Property Located Between: Market Circle and Enterprise
Highway Access: 776
Site Description: Fencened in Condo property with two building
Area Description: Located within 1 mile of the Port Charlotte Town Center Mall and major restaurants and retailers such as Applebee's, Best Buy, Chili's, Olive Garden, Outback Steakhouse, Red Lobster, Sonny's BBQ, Target, TGI Friday's, Walmart, and more!
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Fair
Year Built: 1984
Roof Type: Hip
Construction/Siding: Concrete
Parking Ratio: 2 (per 1000 SF)
Parking Type: Surface
Zoning Description: Industrial General (IG) - The purpose and intent of this district is to allow various light industrial and higher-intensity commercial uses. All industrial processes shall take place within completely enclosed buildings unless approved by a special exception. Storage of materials and finished products may be permitted within an enclosed yard with appropriate screens and buffering.
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: condo
Legal Description: KINGSTON PLAZA UN 2-H 808/2020 967/1253 2142/2067 2914/1364 KINGSTON PLAZA UN 2-I 808/2020 967/1253 2142/2067 2914/1364

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Contact

Photograph of Listing Agent

Ronald Struthers

COLDWELL BANKER COMMERCIAL NRT
MFCRE Member
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