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Walgreens Building Sarasota 3901 S Tamiami Trail 19,144 SF Retail Building Sarasota, FL 34231 $7,800,000 ($407.44/SF) 5.88% Cap Rate
Investment Highlights
- 100% occupancy
- Corner property at a very busy intersection.
- Close to Sarasota Memorial Hospital.
- Zoned CGD (Commercial General District)
- Close to Downtown Sarasota.
- 74 paved and striped parking spaces.
Executive Summary
Location, Location, Location!!! Extraordinary Opportunity!
One of the most prominent intersections in Greater Sarasota, this Walgreens Building has been operating since it was built in 1999. At Bee Ridge Road and South Tamiami, this location has high visibility, high traffic count and easy in and out access. it is literally ?ve minutes from Siesta Key and its world renown Beaches and recreational amenities and vacation rental properties.
It is just moments away from renowned shopping centers. Within 5 minutes to the Siesta Key North Bridge. Siesta Key Beach, featuring recreational/amenities, great restaurants and vacation rental properties, It is an award winning beach and resort island which has been voted The Number 1 Beach in the Country many times. Also, Marie Selby Botanical Gardens is also minutes away. The location offers a dynamic mix of leisure and commerce. A signi?cant percentage of Sarasota's wealthy neighborhoods stretch for miles North or South just West of Tamiami Trail! The location attracts a diverse and affluent customer base.
At over 17,000 Sq. Ft. and situated on approximately 1.44 acres (62,477 sq ft and zoned CGD (Commercial General District) this location and building is perfect for continued retail or suitable to be re-purposed for mixed use; professional/medical o?ces; or for completely re-developing the property. BONUS Plenty of parking with 74 spaces, adjacent thriving liquor store and a double lane drive-thru.
Buy the property now and then enjoy the Walgreens annual lease revenue until the lease expires on 7/31/2029 when you convert it to your ultimate highest and best use!
One of the most prominent intersections in Greater Sarasota, this Walgreens Building has been operating since it was built in 1999. At Bee Ridge Road and South Tamiami, this location has high visibility, high traffic count and easy in and out access. it is literally ?ve minutes from Siesta Key and its world renown Beaches and recreational amenities and vacation rental properties.
It is just moments away from renowned shopping centers. Within 5 minutes to the Siesta Key North Bridge. Siesta Key Beach, featuring recreational/amenities, great restaurants and vacation rental properties, It is an award winning beach and resort island which has been voted The Number 1 Beach in the Country many times. Also, Marie Selby Botanical Gardens is also minutes away. The location offers a dynamic mix of leisure and commerce. A signi?cant percentage of Sarasota's wealthy neighborhoods stretch for miles North or South just West of Tamiami Trail! The location attracts a diverse and affluent customer base.
At over 17,000 Sq. Ft. and situated on approximately 1.44 acres (62,477 sq ft and zoned CGD (Commercial General District) this location and building is perfect for continued retail or suitable to be re-purposed for mixed use; professional/medical o?ces; or for completely re-developing the property. BONUS Plenty of parking with 74 spaces, adjacent thriving liquor store and a double lane drive-thru.
Buy the property now and then enjoy the Walgreens annual lease revenue until the lease expires on 7/31/2029 when you convert it to your ultimate highest and best use!
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
19,144 SF
Building Class
B
Year Built/Renovated
1999/2009
Price
$7,800,000
Price Per SF
$407.44
Cap Rate
5.88%
NOI
$458,850
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.44 AC
Zoning
CGD - Commercial General
Parking
74 Spaces (4.32 Spaces per 1,000 SF Leased)
Frontage
500’ on Tamiami Trail
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
- Awning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0074-04-0105 | Improvements Assessment | $2,792,600 |
| Land Assessment | $2,598,800 | Total Assessment | $5,391,400 |
Property Taxes
Parcel Number
0074-04-0105
Land Assessment
$2,598,800
Improvements Assessment
$2,792,600
Total Assessment
$5,391,400
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