Catylist ID:
#30172606
Afffordable Suites at the Parkwood Professional Center!
Office
for Sale
| Catylist Listing ID: | 30172606 |
| Property Subtypes: | Business Park, Executive Suites, Office Building |
| Condo? | Yes |
| Building Size (RSF): | 7,424 SF |
| Sale Price: | $1,225,000 |
| Ceiling: | 9 ft. |
| Property Use Type: | Investment |
| Building Name: | Parkwood Professional Center |
| Class of Space: | Class B |
| Usable Size (USF): | 7,424 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 95 |
| Last Updated: | 11/17/2018 |
Overview / Comments
|
Own an investment property professional building with class and history. Located under the massive old oaks of the Parkwood Professional center is an amazing office building filled with happy tenants in a well maintained building. On Site ownership and hassle free environment await you. • Quick access to I-75 via SR70 east • Filled with multiple longstanding professional tenants • Skylights in larger units • Current On site landlord/ownership: sale - lease back situation • Office park is currently undergoing major rennovations and updates • Close to medical, SCF and airport |
Financials
| Finance Data Year | 2017 |
|---|---|
| Real Estate Taxes - Annual($) | $8,161 (Annual) |
| Gross Operating Income | $70,623 (Annual) |
| Net Operating Income | $41,179 (Annual) |
| Actual or Proforma Year | Proforma |
Current Tenants
| Tenant Business Name | Carter Psychology Center |
| Contact Name | Michael Spellman |
| Is Renting? | Yes |
| Suite Number | 100 |
| Tenant Business Name | Lotus: Massage Therapy |
| Contact Name | Barbara Hicks |
| Is Renting? | Yes |
| Suite Number | 230 |
| Current Rent | $782 PSF (Annual) |
| Lease Expiration | 8/2019 |
| Escalations | 5% Annually |
| Options | Two (2) Three-Year options |
| Tenant Business Name | Linda Kroll, LCSW |
| Is Renting? | Yes |
| Suite Number | 225 |
| Current Rent | $469 PSF (Annual) |
| Lease Expiration | 8/0031 |
| Tenant Business Name | Sands Insurance |
| Contact Name | Corey Sands |
| Is Renting? | Yes |
| Suite Number | 205 |
| Current Rent | $353 PSF (Annual) |
| Lease Expiration | 9/2019 |
| Escalations | 5% Annually |
| Options | Two (2) Three year options |
| Tenant Business Name | Jemma Lee-Fenyn |
| Contact Name | Jemma Lee-Fenyn |
| Is Renting? | Yes |
| Suite Number | 215 |
| Current Rent | $391 PSF (Annual) |
| Lease Expiration | 12/2017 |
| Escalations | 5% Annually |
| Options | Two (2) Three year extensions |
| Tenant Business Name | Markana Insurance Agency |
| Contact Name | Ana Peterson |
| Is Renting? | Yes |
| Suite Number | 230 |
| SF of Space Occupied | 469 SF |
| Current Rent | $391 PSF (Annual) |
| Lease Expiration | 7/2017 |
| Escalations | 3% annually |
| Options | Auto Renew Annually |
| Tenant Business Name | ADVx, LLC |
| Contact Name | Kathy Corr |
| Is Renting? | Yes |
| Suite Number | 200 |
| Current Rent | $469 PSF (Annual) |
| Lease Expiration | 7/2018 |
| Escalations | 5% Annually |
| Options | Two (2) Three Year Extensions |
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 |
| Road Type: | Paved |
| 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: | 85 |
| Lot Depth: | 130 |
| 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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