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2117-2125 47th St 2117-2125 47th st 12,000 SF 100% Leased Industrial Building Sarasota, FL 34234 $3,210,616 CAD ($267.55 CAD/SF) 6.78% Cap Rate
INVESTMENT HIGHLIGHTS
- Package of 2 side-by-side buildings totaling 12,000 SF
- Tenant with new 3 year lease in place plus two 1 year options
- Located in an industrial park off of 47th Street.
- Great location with easy access to US-301
- Buildings in great condition with ample parking
- 5 minutes from Downtown Sarasota and approximately 10 minutes from the SRQ Airport.
EXECUTIVE SUMMARY
This sale consists of 2 warehouse condos, both 6,000 SF each. They are being sold as a package subject to an existing lease for a single tenant that has a new 3 year term lease in place with two 1 year options thereafter. The tenant is a local garage door company that does installation, repair, and replacement for garage doors and openers and the starting rent is $13/SF NNN. The property was just reduced to only $2.3M which equates to a 6.78% CAP Rate. The sale is based on a newly executed lease (3 years plus two 1-year Options) with Impact Home Services. The service provider under this lease is a locally owed franchise of Precision Garage Door (www.precisiondoor-swfl.com).
Impact Home Services is a regional home-services company (www.impactholdings.us/locations) backed by the private equity firm Eagle Merchant Partners ( www.eaglemerchantpartners.com).
Please do not disturb tenant, call broker for showings or with any questions.
Located in an industrial park off of 47th Street, this property is well positioned for manufacruting, distribution, and storage. Right off of US-301, this location provides easy access to US-301 and is a straight shot to I-75 via either University Pkwy or Fruitville Rd. Additionally, it is located just 5 minutes from Downtown Sarasota and approximately 10 minutes from the SRQ Airport.
Impact Home Services is a regional home-services company (www.impactholdings.us/locations) backed by the private equity firm Eagle Merchant Partners ( www.eaglemerchantpartners.com).
Please do not disturb tenant, call broker for showings or with any questions.
Located in an industrial park off of 47th Street, this property is well positioned for manufacruting, distribution, and storage. Right off of US-301, this location provides easy access to US-301 and is a straight shot to I-75 via either University Pkwy or Fruitville Rd. Additionally, it is located just 5 minutes from Downtown Sarasota and approximately 10 minutes from the SRQ Airport.
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