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21112930
21112931

1630 S Tuttle Ave, Sarasota, FL 34239

DC
FL SL3527910
SVN | Commercial Partners
AB
FL BK3231913
SVN | Commercial Partners
RZ
FL BK3044386
SVN | Commercial Partners
Listed by SVN | Commercial Partners
$3,350,000
521 days on market
Updated 28 days ago

Fully Leased Medical Office Near Sarasota Memorial Hospital

Details
APN 2035090036
Property Type Office
Sub Type Medical Office
Square Footage 7,829
Net Rentable (SqFt) 7,829
Cap Rate 7.01%
NOI $234,870
Occupancy 100%
Tenancy Multi
Lease Type NNN
Lease Term 5
Remaining Term 5
Price per SqFt $440
Broker Co-Op Yes
Class A
Year Built 1981
Year Renovated 2021
Lot Size (SqFt) 38,471
Zoning OPB
Parking Spaces 40 spaces
Parking Per SqFt 5.11
Investment Type Sale/Leaseback
Sale Condition Sale for leaseback

Gorgeous Medical Office with Hurricane Proof Constuction

Marketing description

Nestled in the prime Sarasota area, this impeccably renovated 7,829 SF building presents a turnkey investment opportunity. Boasting high-end interior finishes, the property features a versatile layout with 14 fully-equipped exam rooms, an updated X-ray room, seven private staff offices, a spacious gym and PT area, and a gorgeous waiting area with dual reception desks. With hurricane-proof construction for added safety and a 100% occupancy rate, this property offers a strong investment potential in a dynamic market. Leased by two medical professionals on a five-year triple net lease at a lease rate of $30/ft triple net, it's a secure and attractive opportunity not to be missed.

Discover the vibrant surroundings of the property in Sarasota, FL. Situated in a thriving area, this location offers convenient access to world-class cultural attractions, exquisite dining experiences, and stunning waterfront views. Just moments away, the bustling downtown district provides a dynamic mix of shops and entertainment venues, while the picturesque Sarasota Bay offers a tranquil escape for daily strolls. Nearby, the Ringling Museum of Art, Marina Jack, and iconic St. Armands Circle present endless opportunities for recreation and leisure. With a perfect blend of business and pleasure, the area surrounding the property in Sarasota is an ideal destination for discerning office investors and tenants seeking a dynamic and inspired work-life balance.

Investment highlights

  • Available for an Owner User or as aa Triple Net Medical Sale Lease Back
  • Long Standing Sarasota Medical Tenants
  • Five year term at market rate
  • 7.01% CAP rate/$234,870 yearly income with increases
  • Near SMH and Downtown Sarasota
  • Excellent 1031 or Passive Income Opportunity

Listing Contacts

DC
FL SL3527910
SVN | Commercial Partners
AB
FL BK3231913
SVN | Commercial Partners
RZ
FL BK3044386
SVN | Commercial Partners
Listed by SVN | Commercial Partners

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$234,870.00
$19,572.50/mo

Valuation Metrics

0
DSCR
7.01%
Cap Rate
7.01%
ROI

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Additional Information

Name
David Carlson
License
SL3527910
Brokerage
SVN Commercial Partners
Title
Senior Advisor
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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