5313-5343 Paylor Ln Sarasota, FL 34240
- Retail properties
- 6,000 SF
- 0.76 lot acres
Current Use by Public Records
- Crestwood Commons at Lakewood Ranch / Office Space Rental Agency / Executive Suite Rental Agency
Property Details for 5313-5343 Paylor Ln
- Year built
- 2005
- Lot size
- 0.76 lot acres
- Property size
- 6,000 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional mixed-use property, Crestwood Commons, located at 5313-5343 Paylor Ln, Sarasota, FL 34240, presents a compelling investment opportunity. Comprising two single-story buildings totaling 6,000 square feet on a 0.76-acre lot, this property boasts six individual units, each approximately 1,000 square feet, currently operating at 100% occupancy. Built in 2005, the property features modern interiors with high ceilings and excellent lighting. Units offer flexible configurations, ranging from 100 to 1,000 square feet, catering to diverse tenant needs. Current leases include a 3% annual rent increase, providing inflation protection. The property generates a strong net operating income (NOI) of $205,562, resulting in a 5.75% cap rate and a price per square foot of $595.83. Situated within the award-winning Waterside Place at Lakewood Ranch community, this property benefits from a vibrant lifestyle environment with ample amenities and high tenant demand. The property is in excellent condition following Hurricane Milton. This turnkey investment offers the flexibility to maintain current operations, utilize space personally, expand services, or sell units individually. The asking price is $3,575,000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Sarasota
- State
- Florida
- Longitude
- -82.4217
- Latitude
- 27.3774
