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Listing ID A4196315
Price: $2,395,000
Address
201-205 MONTGOMERY
City Name:
SARASOTA
State:
FLORIDA
Postal Code:
34243
Square Feet:
12255
Acres:
0.51
MLS Area Major:
Sarasota
County:
Manatee
Type:
Commercial
Looking for incredible cash flow with a land bank opportunity? 201 & 205 Montgomery Ave offer over a true 10% NET return per the leases in place. The main tenant is a national medical billing firm that has already exercised 2 five year options and has 2 five year options remaining after the current term expires. Centrally located just 7 minutes from downtown Sarasota on highly trafficked US 41 (45,000+ cars per day) and close to Bradenton, this office complex is convenient to employees living in the two county area. The 5 buildings have all been updated over the years with newer roofs and well maintained. As a land bank, development continues to move North from Downtown Sarasota and around the SRQ international airport (just 1 mile away). The buildings are well situated to be converted to a full medical complex for future uses down the road. To build a complex of this size today, on over 1 acre of US41 frontage, with 5 separate buildings, the estimated cost would be well over $4M. Don’t miss out! Earn 10% now and equity for the future!
Additional Features:
Additional Membership Available: n
Additional Parcel: Yes
Additional Tax IDs: 6715100258, 6715100100, 6715100209
Adjoining Property: Church
Air Conditioning: Zoned/Multiple
Association Approximate Required: No
Auction: No
Block Parcel: 46
CDD: n
CDOM: 7
Class of Space: Office
Condo Environment: No
Converted Residence: No
Country: United States
DOM: 7
Exterior Construction: Block
Fireplace: No
Flood Zone Code: AE
For Lease: No
Freezer Space: No
Heating and Fuel: Zoned/Multiple
Homestead: No
Internal ID: 210566316
Lease Terms: 3 to 5 Years, Absolute (Triple) Net
Legal Description: A PORTION OF LOT 13, & ALL OF LOTS 14 & 15 BLK 46, WHITFIELD ESTATES, REC IN PB 6 PG 33, BEING MORE PART DESC AS FOL: BEGIN AT THE SW COR OF SD LOT 15, BLK 46, BEING A PT ON THE NLY R/W LINE OF MONTGOMERY AVE; TH N 67 DEG 03 MIN 10 SEC E, ALONG SD NL Y R/
List Price: 2395000.00
Location: Activity Core/Center, Corner Lot, Flood Zone, Oversized Lot
Long Term: No
Lot Number: 13
Lot Size SqFt: 22259
Listing Price Per SqFt: 195.43
LSC List Side: Sarasota
MFR Consumer: No
Millage Rate: 15.7700
Miscellaneous: Cable, Parking Lot Reserve
Net Leasable SqFt: 12255
New Construction: No
Other Exemptions: No
Other Fees: No
Parcel Number: 6715100001
Pet Restrictions: No
Pets Allowed: No
Planned Unit Development: No
Property Status: Existing
Property Style Commercial: Net Leased, Office
Property Use: OFFICE
Status: Active
Range: 17
Road Frontage: State Road
Roof: Shingle, Steel/Bar/Joist, Wood Frame
Section: 26
Sidewalk: No
Special Sale Provision: None
Special Tax District Tampa: No
SqFt Gross: 12255
Square Foot Source: Public Records
Taxes: 12960
Tax Year: 2016
Total Acreage: 1/2 Acre to 1 Acre
Township: 35
Transportation Access: Airport, Frontage, State Highway
Utilities: Electric, Public Sewer, Public Water
Water Access: No
Water Extras: No
Water Frontage: No
Water View: No
Year Built: 1990
Zip Plus: 1519
Zoning: RSF3/HA/
Zoning Compatible: No
Listing information courtesy of Michael Saunders & Company. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. Data last updated on Wednesday, October 18th, 2017.
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