TITLE:
Flex Industrial, Sarasota, Florida
CONTROL:
Buyers Broker
VALUE:
$2,400,000
LOAN:
$1,200,000
EQUITY:
$1,200,000
TYPE:
Industrial
HAVE:
23 units Flex Retail & Light Industrial, 14' roll up doors, about 600 sq. ft. each. Steal building. Good condition, clean. Parking on site, Great location just east of Sarasota International Airport and $2,000,000,000 expansion-high demand /growing area.
ADDRESS:
6605 33rd St, Sarasota, Florida
BENEFITS TO NEW OWNER:
No competition for the space so very easy to rent and keep rented. Most on 1 yr. lease, all stable. Most have been there 10 yrs. 1-15 yr. tenants
GROSS SCHEDULED INCOME:
$275,000 Actual
VACANCY LOSS:
$12,000
GROSS EFFECTIVE INCOME:
$263,000
EXPENSES:
$100,000
NOI:
$163,000
DEBT SERVICE:
$60,000
CASH FLOW:
$103,000
CAP RATE:
6.79%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$1,200,000
$60,000
5%
08/01/2026
Yes
BENEFITS SOUGHT:
Dissolve Partnership because of aging out. Looking for quiet retirement.
CAN ADD:
Yes, lots in Calif High desert, Apple Valley and up to $100,000.
COUNSELOR:
Debbie Ferrari
KW Commercial Coastal Castles
635 Camino De Los Mares, 3rd Floor
San Clemente, California, 92673
