Catylist ID:
#30172606
Fully Leased 7.6% cap Investment Opportunity!
Office
for Sale
| Catylist Listing ID: | 30172606 |
| Property Subtypes: | Business Park, Executive Suites, Medical, Office Building |
| Condo? | Yes |
| Building Size (RSF): | 7,424 SF |
| Gross Land Area: | 14,375 SF |
| Sale Price: | $995,000 |
| Ceiling: | 9 ft. |
| Property Use Type: | Investment |
| Building Name: | Parkwood Professional Center |
| Class of Space: | Class B |
| Usable Size (USF): | 7,424 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.6% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 1/21/2022 |
Overview / Comments
|
Own an investment property professional building with class and history. Located under the massive old oaks of the Parkwood Professional center is an amazing office building filled with happy tenants in a well maintained building. • Fully Leased out! • 7.6% Cap Rate of Return! • Quick access to I-75 via SR70 east • Skylights in larger units • Current On site landlord/ownership: sale - lease back situation • Office park has undergone major renovations and updates • Close to medical, SCF and airport |
Financials
| Finance Data Year | 2017 |
|---|---|
| Real Estate Taxes - Annual($) | $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 |
| Parking Description: | Asphalt Surface lot |
| 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 |
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 |
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