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Ranch Lake Plaza Office Building 8614 State Road 70 E 14,400 SF 100% Leased Office Building Bradenton, FL 34202 $4,475,000 ($310.76/SF) 5.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Incredible location at SR 70 & I-75 at the entrance to Lakewood Ranch
- Incredible synergy with surround medical offices and Emergency Department
- By 2028 over 60% of the building has potential to increase rents based on Fair Market Value providing tremendous upside
- Long-term net leases include three medical and one health-care related tenant.
- High traffic location adjacent to a Walmart Supercenter
- 5-year Proforma shows NOI increasing by over 40%
EXECUTIVE SUMMARY
Incredible office investment opportunity located just off of State Road 70 on Ranch Lake Boulevard in Bradenton Florida. This two story medical office building boasts four tenants, two of which have been long-term tenants and the first to occupy their suites. The building features Net leases for each of the four tenants with current expiration dates into 2028 and options to extend reaching far beyond.
Located behind the HCA Florida Freestanding Emergency department, this opportunity offers premium visibility and has been well maintained with beautiful flooring and light fixtures, marble check in counters, and an elevator for accessibility to the second floor. With the adjacent Walmart Supercenter this property has retail, high visibility exposure and traffic.
Located behind the HCA Florida Freestanding Emergency department, this opportunity offers premium visibility and has been well maintained with beautiful flooring and light fixtures, marble check in counters, and an elevator for accessibility to the second floor. With the adjacent Walmart Supercenter this property has retail, high visibility exposure and traffic.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
14,400 SF
Building Class
B
Year Built/Renovated
2009/2017
Price
$4,475,000
Price Per SF
$310.76
Cap Rate
5.60%
NOI
$250,438
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,200 SF
Building FAR
0.19
Lot Size
1.70 AC
Zoning
PDC - Planned Development
Parking
86 Spaces (5.97 Spaces per 1,000 SF Leased)
AMENITIES
- Property Manager on Site
- Signage
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 17309-4405-9 | Improvements Assessment | $1,266,681 |
| Land Assessment | $853,981 | Total Assessment | $2,120,662 |
PROPERTY TAXES
Parcel Number
17309-4405-9
Land Assessment
$853,981
Improvements Assessment
$1,266,681
Total Assessment
$2,120,662
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Ranch Lake Plaza Office Building | 8614 State Road 70 E
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