438 St. Armands Circle
Sarasota, FL 34236 ·
1,400 SF · Retail For Sale
St. Armands Circle - 6.1% CAP Rate
|Price||N/A||Property Use Type||Net Lease Investment with 5 years left on lease|
|Building Size||1,400 SF||Commission Split||3%|
|Property Type||Retail||Cap Rate||6.12%|
|Property Sub-type||Street Retail||Tenancy||Multiple|
|Listing ID: 15418436||Date Created: 11/01/2007||Last Updated: 06/12/2008|
Commercial retail property directly on St. Armand's Circle, including 2 high profile, stable tenants. There are 2 leases with annual CPI escalations for yearly income of $150,000. Both leases have 5 years left on the leases, with additional 5 year extensions. The leases are below market prices since they have been in effect for multiple years, so there is significant potential for additional income in the future. This property is grandfathered in for a real estate office on the first floor, and thus demands premium lease rates. This is a true NNN lease and tenants pay all taxes, insurance, and maintenance.
Located directly on St. Armands Circle in Sarasota, FL. This property is ground floor retail property in the heart of one of the nation's best retail centers and largest tourist destinations.
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