Medical or Professional Owner/User Investment Property

Office for Sale
Catylist Listing ID: 30726545
Property Subtypes: Medical, Office Building
Building Size (RSF): 13,120 SF
Gross Building Area: 14,386 SF
Gross Land Area: 39,335 SF
Sale Price: $1,995,000
Unit Price: $152.06 PSF
Property Use Type: Vacant/Owner-User
Building Name: Gulf Gate Professional Building
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 10/10/2021

Overview / Comments

Ideal location for Owner/User with Medical long term tenants in place. Value added 13,120 SF two story medical office building surrounded by mid to high end residential properties. Located in the Gulf Gate area just south of Clark Rd one block west of Beneva Rd in the Palmer Ranch area with great signage. This is an ideal Owner/User property with additional income potential. There were 10 units when the building was originally designed but have been reconfigured to suit the existing tenants. Six Tenants are in place currently with three longer term leases but the majority are on month to month. It is possible to have the full second floor of 6,600 SF of available space for an Owner/User. Great Medical or general office use close to the Gulf Gate amenities of dining and shopping. Building has been well maintained and has great street appeal. 62 parking spots available. Cap rate currently at 3.6%. Increase month to month tenants rents to allow for value added opportunity.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0102160017
Zoning: OPI
Property Located Between: Beneva Road and US 41
Property Visibility: Excellent
Highway Access: US 41 Clark Road I-75
Airports: Sarasota Bradenton Airport
Area Description: Located within the Gulf Gate residential area one block west of Beneva Rd. Within minutes to the Gulf Gate business and retail area,
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 6,560 SF
Year Built: 1984
Roof Type: Hip
Construction/Siding: Concrete, Stucco
Parking Ratio: 4.6 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 62
Passenger Elevators: 2
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: OPI
Lot Frontage: 148
Lot Depth: 267
Water Service: Municipal
Sewer Type: Municipal
Legal Description: COM NE COR SEC 21-37-18 TH N-89-22-36-W 40 FT TH S-0-10-07-E 0.62 FT TH S-0-21-15-E 71.65 FT TH N-89-38-34-W 225 FT FOR POB TH CONT N-89-38-34-W 147.65 FT TH N-0-10-07-W 267 FT TH S-89-38-34-E 147.49 FT TH S-0-12-05-E 267.01 FT TO POB CONTAINING 0.905 AC M/L

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,258 62,959 126,065
Median Age: 55.62 54.05 52.16
Households: 6,357 31,425 60,282


Photograph of Listing Agent

Terry A Eastman, PA

Not a member of CE-FL
Photograph of Listing Agent

Janet K Robinson

CE-FL Member
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