Property Details for 4740 Fl-64

Year built

2001

Lot size

0.88 lot acres

Property size

5,940 SF

Property type

Office properties & Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents a 5,940 square foot, Class A, single-story office building situated on a 0.88-acre lot in Bradenton, Florida. Located on the high-traffic SR 64 corridor, just west of I-75 and Lakewood Ranch, this property boasts a prime location with high visibility. The building, constructed in 2001, features a desirable brick facade, ample parking, and electric vehicle charging stations. Currently 100% occupied by two tenants in a multi-tenant NNN lease structure, the property generates a substantial net operating income (NOI) of $99,466, representing a 6.86% cap rate at an asking price of $1,450,000. The property is part of an eight-building office complex with an active owners association responsible for exterior maintenance, including roofs, pressure washing, painting, and parking lot upkeep. Replacement reserves are in place within the CAM to cover these expenses. The current landlord has been subsidizing CAM charges, presenting a potential opportunity to increase NOI by approximately $8,500 annually by adjusting CAM fees to reflect current expenses and market rates, thereby boosting the cap rate to 7.4%. The building's location within the Braden River Office Park, near amenities such as Gecko's, Anytime Fitness, and Tractor Supply Co., further enhances its appeal. This meticulously maintained property offers a compelling investment prospect with strong potential for future growth. The property is zoned SCC (Suburban Commercial Corridor) and has two units, each priced at $725,000. The property's address is 4740 FL-64, Bradenton, FL 34208.

Location Insight

City

Bradenton

County

Manatee

State

Florida

Longitude

-82.5043

Latitude

27.4959