1630 S Tuttle Ave - Medical FOR SALE


Sarasota, FL 34239- South Sarasota
$3,350,000 USD
941-248-2191
1630 S Tuttle Ave, Sarasota, FL for Sale
$3,350,000 USD
Medical - FOR SALE
1/35
null | 7.01% Cap Rate

1630 S Tuttle Ave
Sarasota, FL 34239
South Sarasota


HIGHLIGHTS

  • Five year triple net lease at a 6.81% cap rate.
  • No Tenant Improvements needed or vacancy, instant triple net income
  • Great 1031 Candidate
  • Close to Sarasota Memorial Hospital and Downtown Sarasota
  • Gut rehabbed down to the studs with high end finishes and hurricane proof construcrtion

OVERVIEW

Nestled in the prime Sarasota area, 1630 S Tuttle Avenue is a gracious building offering investors a rare opportunity. This 7,829-square-foot building has been meticulously renovated and is offered as a fully leased, turnkey medical office property. The sellers are proposing a triple net sale-leaseback arrangement with a five-year term at market rates, presenting a promising opportunity for investors seeking passive income in a robust market. Renovated in 2021, the property boasts modern amenities and a versatile design suitable for both office and medical operations. The building was completely restructured with hurricane-resistant doors and windows, solid core interior doors, and luxury vinyl plank flooring, ensuring durability and quality throughout. The layout includes 14 fully equipped exam rooms, an updated X-ray room with equipment, seven private staff offices, four bathrooms, and two shower rooms designated for staff and patient convenience. Additional features comprise a spacious gym and physical therapy area, multiple staff areas with a kitchenette and dining tables, as well as a locker room for storage. This property has been carefully designed to accommodate the operational needs of medical professionals and their patients. Sarasota offers a prime setting for office and medical properties along Florida’s Gulf Coast. This site, positioned near major roadways, ensures easy access throughout the city. The surrounding area features numerous large medical practices and facilities, providing valuable synergy for businesses. Just minutes away are Sarasota Memorial Hospital and Downtown Sarasota. Nearby amenities include Publix, Wendy’s, LA Fitness, Subway, and Men’s Warehouse, adding convenience for tenants and visitors. Investors will find this area particularly attractive due to its rising population. With an average household income within 5 miles reaching $95,375 annually, there are strong area demographics in place. Additionally, over 212,200 employees work within a 10-mile radius, underscoring the strength of the local workforce.

FOR SALE DETAILS

PRICE

$3,350,000 USD

PRICE/SF

$428 USD /SF

CAP RATE

7.01%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1981

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.89 AC

LAND SF

38,768 SF

ZONING

OPB

APN/PARCEL ID

2035-09-0036

ASK ABOUT THIS PROPERTY

David CarlsonSVN | Commercial PartnersMore Info
941-248-2191

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David CarlsonSVN | Commercial PartnersMore Info
941-248-2191

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.