1490 Blvd of the Arts

Retail-Commercial for Sale
Catylist Listing ID: 30044647
Property Subtypes: Free-Standing Building
Building Size (RSF): 18,920 SF
Gross Building Area: See Agent
Gross Land Area: 29,588 SF
Sale Price: $3,200,000
Unit Price: $169.13 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.62%
Last Updated: 7/6/2017

Overview / Comments

The subject is a single story concrete block multi-tenant commercial building that was constructed in 1956 as a rail side warehouse. The finished floor is elevated to receive direct rail car deliveries from the former rail line that is now Lemon Avenue. The building has been renovated as a multi-tenant commercial building and, over the years, used for warehouse, office, retail and fitness center tenants. Currently fully leased, this property presents the unique opportunity as a leased investment in the booming Rosemary District. It also has tremendous development opportunity for condominium or townhouses.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 2026-11-0026
Zoning: DTE
Area Description: The subject fronts on Lemon Avenues with ingress/egress from 5th Street and Boulevard of the Arts. Lemon Avenue is the former railroad line that was abandoned and converted to a City street. In the heart of the booming Rosemary District, the subject is a short walk to four new apartment projects, countless restaurants, Wholefoods and all the retail downtown.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1956

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,200 71,922 159,382
Median Age: 46.02 44.86 48.52
Households: 4,549 31,958 73,385

Contact

Photograph of Listing Agent

John B Harshman

HARSHMAN & COMPANY INC
FGCAR CIE Member

Source

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