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
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 95
Last Updated: 12/5/2017

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)
Net Operating Income $41,179 (Annual)
Gross Operating Income $70,623 (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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