328 Rhodes Ave Sarasota, FL 34237

Property Details for 328 Rhodes Ave

Year built

2007

Property size

3,051 SF

Property type

Office Properties & Spaces

Description

This exceptional investment opportunity presents a net-leased, single-tenant office building totaling 3,051 square feet, located at 328 N Rhodes Ave, Sarasota, FL 34237. The property, built in 2007, boasts a desirable location within the professionally managed Franklin Field Business Center, offering ample parking. The building features a nicely finished interior, including an open reception area with a receptionist window, multiple private offices, a conference room, two break rooms, and multiple restrooms. Currently under a new 3-year lease with a tenant in place since 2014, this property offers a strong, stable income stream. The asking price is $840,000, representing a compelling 6.25% capitalization rate with a net operating income (NOI) of $52,493. The property is zoned OCD - OFFICE COMMUNITY DISTRICT by the City of Sarasota and features a 3% annual rent bump. The property's parcel numbers are 2030132013, 2030132014, and 2030132015. This is a turnkey investment ideal for passive income seekers. The price per square foot is $275.32. The building is a single-story structure. This is a rare opportunity to acquire a well-maintained, high-quality office building in a prime Sarasota location.