3402-3406 Magic Oak Ln Sarasota, FL 34232
- Office Properties & Spaces
- 2,500 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 3402-3406 Magic Oak Ln
- Year built
- 2005
- Property size
- 2,500 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents two fully leased office condominium suites totaling 2,500 square feet within the Oakwood Office Park in Sarasota, Florida. Each 1,250 square-foot unit boasts a reception area, five private offices, a copy/breakroom, restroom, and shared kitchenette. The single-story buildings, constructed in 2005 and renovated in 2010, are situated in a professional campus setting with ample parking. Currently 100% occupied by two tenants under a triple-net (NNN) lease, the property generates a strong NOI of $48,048, representing a 6.24% cap rate. Pro-forma NOI is projected at $58,248, yielding a 7.56% cap rate. The asking price is $770,000, or $308 per square foot. Conveniently located off Fruitville Road, the property enjoys proximity to I-75 (1.5 miles) and downtown Sarasota (3.5 miles). The property's APN is 0044145009, 0044145010, and is zoned OPI. This is a prime owner/user investment opportunity in a desirable Sarasota location. The property offers a blend of executive, medical, and traditional office space, making it suitable for a variety of businesses. The strong tenancy and location make this a compelling investment prospect with significant upside potential.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Sarasota
- State
- Florida
- Longitude
- -82.4741
- Latitude
- 27.3386
