Investment Opportunity: Sale/Leaseback of Office Building

Office for Sale
Catylist Listing ID: 30172606
Property Subtypes: Business Park, Executive Suites, Office Building
Condo? Yes
Building Size (RSF): 7,424 SF
Gross Land Area: 14,375 SF
Sale Price: $1,150,702
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: Parkwood Professional Center
Class of Space: Class B
Usable Size (USF): 7,424 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Last Updated: 7/7/2021

Overview / Comments

Own an investment property professional building with class and history. Located under the massive old oaks of the Parkwood Professional center is an amazing office building filled with happy tenants in a well maintained building. On Site ownership and hassle free environment await you.

• Quick access to I-75 via SR70 east
• Filled with multiple longstanding professional tenants
• Skylights in larger units
• Current On site landlord/ownership: sale - lease back situation
• Office park is currently undergoing major renovations and updates
• Close to medical, SCF and airport

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $8,161 (Annual)
Gross Operating Income $70,623 (Annual)
Net Operating Income $41,179 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 5240200054
Is Condo?: Yes
Zoning: PR-S
Market Type: Medium
Property Located Between: 26th St W & 27th St W
Road Type: Paved
Property Visibility: Fair
Highway Access: SR 70 corridor is only a couple minutes to the south.
Airports: Bradenton-Sarasota, St. Pete - Clearwater, Tampa International
Site Description: Multi-Building, Multi-Tenant professional office park
Area Description: 2 Story Office Building located on the Parkwood Professional Center campus
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1986
Roof Type: Flat
Exterior Description: Concrete / Stucco
Parking Type: Surface
Total Parking Spaces: 20
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: DSL
Interior Description: Well Kept office suites. Carpeted rooms throughout. 2nd floor shares common area restrooms and storage
Zoning Description: Professional - Small
Part of Planned Development?: Yes
Lot Frontage: 115
Lot Depth: 125
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: BHMC Partners, LLC
Legal Description: PARKWOOD PROFESSIONAL CENTER CONDO PI#52402.0080/7

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,312 110,865 180,743
Median Age: 38.07 44.07 44.35
Households: 8,582 48,408 76,998

Contact

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