High Traffic Plaza: Great Location!

Shopping Center for Sale
Catylist Listing ID: 30009677
Property Subtypes: Community Center, Neighborhood Center, Strip Center
Building Size (RSF): 11,972 SF
Gross Land Area: 1.10 SF
Sale Price: $1,359,000
Unit Price: $113.51 PSF
Property Use Type: Investment
Building Name: College Plaza
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: 7.8%
Average Occupancy Rate: 80
Last Updated: 2/17/2017

Overview / Comments

4 Retail Space Strip Center, 3 are currently leased and 4th and final space is on market for lease.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $15,616 (Annual)
Tax Value Land $237,326
Tax Value Improvements $641,447
Tax Value Personal Property $15,616
Assessed Value - Total($) $878,773 (Annual)
Potential Rental Income $153,941 (Annual)
Net Operating Income $108,524 (Annual)
Gross Operating Income $136,441 (Annual)

Current Tenants

Tenant Business Name Ancient Ways Martial Arts
Is Renting? Yes
Annual Revenue $85,645 (Annual)
Suite Number 3405
Current Rent $7,137 PSF (Annual)
Tenant Business Name Mark of the Machine Tattoo
Is Renting? Yes
Annual Revenue $20,235 (Annual)
Suite Number 3409
SF of Space Occupied 1,400 SF
Current Rent $1,686 PSF (Annual)
Lease Expiration 7/0031
Escalations 3% Annually
Tenant Business Name Coin Laundry
Is Renting? Yes
Annual Revenue $30,562 (Annual)
Suite Number 3413
SF of Space Occupied 1,400 SF
Current Rent $2,547 PSF (Annual)

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 5182630052
Zoning: GC,PD-R
Retail Clientele: General, Family
Property Located Between: 34th Street West & Cortez Road West
Property Visibility: Good
Largest Nearby Street: Cortez Road
Feet of Frontage: 200
Traffic/Vehicle Count: 52,500
Highway Access: SR 70 to the south
Airports: Bradenton-Sarasota, Tampa International, St. Pete - Clearwater
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,400 SF
Property Condition: Fair
Year Built: 1977
Construction/Siding: Block
Parking Type: Surface
Total Parking Spaces: 35
Zoning Description: GC,PD-R
Lot Frontage: 200
Lot Depth: 245
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Damato Properties, LLC
Legal Description: BEG AT THE NE COR OF SEC 9, TH S 00 DEG 12 MIN 29 SEC W ALG THE E LN OF SD SEC 9, 429.35 FT; TH N 89 DEG 47 MIN 31 SEC W, 25.00 FT TO THE INTERSEC OF SD LN & THE W R/W OF 34TH ST


Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,385 113,341 177,434
Median Age: 45.24 44.52 44.13
Households: 8,379 50,064 75,571
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