2214 N Washington Blvd, Sarasota, FL 34237 detailed description
Commercial property for sale
2214 N Washington Blvd, Sarasota, FL 34237
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- Description
- Entry level price for investor looking to obtain a performing asset with a AAA rated tenant listed on the NYSE. 11,000+/- SF building completely renovated in November, 2011. Remodel costs were in excess of $100,000. This deal will not last. Fresh 5 year lease with two five year options. Tenant is NYSE listed company Lumber Liquidators (LL). Lumber Liquidators has more than 260 locations in North America and a market value of $644-million. Lease was signed in December of 2011. Gross income is $55,000 annually, rent is flat gross for first term (years 1-5) . Cap rate approx 5.7+/-%. Rent bump is 11+% from years 6-10. DO NOT DISTURB TENANTS. 11,000SF, 2 bathrooms, showroom. Three grade level loading doors. Located on an extremely busy road. New next door neighbors: Family Dollar and Autozone (currently under construction). New owner can be confident property will throw off passive income for years. Building price details: $725,000.
- Property Details
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Building Name: Lumber Liquidators Property Type: Industrial Use Types: Free-Standing Status: Available Price: $ 66 +/SF MSA: North Port-Bradenton-Sarasota Buildings: 1 Tenancy: Single Tenant Terms: Cash to Seller Added: 06/06/2012 Last Update: 11/19/2012 - Contact info
- 941-487-2101 [Office]
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- Note
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