5104 Lockwood Ridge Rd - Office FOR SALE


Sarasota, FL 34234- North Sarasota
$2,700,000 USD
941-404-9850
5104 Lockwood Ridge Rd, Sarasota, FL for Sale
$2,700,000 USD
Office - FOR SALE
1/5
null | 7.65% Cap Rate

5104 Lockwood Ridge Rd
Sarasota, FL 34234
North Sarasota


HIGHLIGHTS

  • Fully Leased. Room for income growth when some leases reach maturity. Building in excellent condition.

OVERVIEW

Value Add Purchase Opportunity. Property was designed for (2) identical buildings. Only one building was built. The 2nd had most horizontal infrastructure in place. Parcel is 2.48 acres NOI: $206,666.00 CAP Rate: 7.65% - Site work including: Site Lateral Plumbing, Retention, Hard & Pervious Parking intended for second building are already in place Building is 16,278 RSF. (6) Office Suites on 1st Fl w/ direct entrances. 2nd Floor has (2) Tenants, 3rd Floor has (2) Tenants. 3 of the Tenants have combined multiple suites. Most Tenants have been in place since 2019. Newest 3,300 sf Tenant agreed to a 5 year term in 2024 Above conditions and referenced property entitlements need to be verified with county by purchaser in a due diligence period.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$166 USD /SF

CAP RATE

7.65%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

130

LAND DETAILS

LAND ACRES

2.48 AC

LAND SF

108,029 SF

ZONING

OPI

APN/PARCEL ID

0021-07-0009

ASK ABOUT THIS PROPERTY

Michael HollanderHembree & Associates, Inc.More Info
941-404-9850

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Michael HollanderHembree & Associates, Inc.More Info
941-404-9850

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