3070 Fruitville Cmns Blvd Sarasota, FL 34240

Property Details for 3070 Fruitville Cmns Blvd

Year built

2023

Lot size

1.00 lot acres

Property size

7,506 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a 7,506 square foot, multi-tenant retail pad located at 3070 Fruitville Commons Blvd in Sarasota, FL 34240. The property, built in 2023, is situated on one acre of land and boasts a prime location, fronting Fruitville Road (55,000 vehicles per day) and adjacent to I-75's on/off ramps (123,000 vehicles per day). The building is 100% occupied by four tenants—Squeeze Massage, Generator Super Center, The Covery, and Linkster's Tap Room—all under brand new, 10-year NNN leases with rental increases built in. This ensures a stable and predictable income stream, generating a net operating income (NOI) of $259,110 and a 6.15% cap rate. The asking price is $4,213,000, translating to $561.28 per square foot. The property is part of the larger Fruitville Commons development, encompassing 300,000 square feet of office and commercial space, and 300 luxury apartments. This strategic location benefits from proximity to major retailers such as Sam's Club, Lowe's, Target, Publix, Winn-Dixie, Dollar Tree, and Office Depot. The surrounding area is experiencing significant growth, with an influx of new retail, hotel, office, and residential developments anticipated. The 1-mile trade area is projected to grow by 7% over the next five years, further enhancing the long-term value of this investment. The 5-mile trade area includes nearly 135,000 residents (average household income $109,802) and 65,000 employees. This property offers a compelling combination of strong tenant occupancy, favorable lease terms, and a high-growth location, making it an ideal addition to any investment portfolio.

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Longitude

-82.4426

Latitude

27.3393