Historical Retail Sale Listing - St. Armands Circle - 6.1% CAP Rate

Retail For Sale

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St. Armands Circle - 6.1% CAP Rate

438 St. Armands Circle, Sarasota, FL 34236

N/A

1,400 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
1,400 SF
Property Type:
Retail
Property Sub-type:
Street Retail
Property Use Type:
Net Lease Investment with
5 years left on lease
Commission Split:
3%
Cap Rate:
6.12%
Tenancy:
Multiple
Listing ID
15418436
Last Updated
over 1 year ago

Description

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.

Map of 438 St. Armands Circle, Sarasota, FL 34236 (Sarasota County)

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Created 11/1/2007