8452 Tuttle Ave Sarasota, FL 34243
- Retail properties
- 6,552 SF
- 1.31 lot acres
Current Use by Public Records
- Tide Dry Cleaners / Dry Cleaner
- Tide Cleaners / Dry Cleaner / Laundry Service
Property Details for 8452 Tuttle Ave
- Year built
- 2018
- Lot size
- 1.31 lot acres
- Property size
- 6,552 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 6,552 square foot, Class A, single-story retail storefront located at 8452 Tuttle Ave, Sarasota, FL 34243. The property boasts a 100% occupancy rate with a 15-year absolute NNN lease to Tide Dry Cleaners, a franchisee of a leading US Tide Cleaners franchise group. The lease features a 5% rent increase every five years, providing significant long-term growth potential. The property sits on a 1.31-acre lot and was built in 2018. With a current NOI of $295,000 and an asking price of $5,000,000, this offering presents a compelling 5.90% cap rate. The property enjoys a prime location, situated 4.5 miles north of downtown Sarasota in a densely populated area with over 1,400 multifamily units and 6,800+ residents within a one-mile radius. Its convenient access via University Parkway (60,000+ vehicles per day) and proximity to I-301 (45,000+ vehicles per day) further enhance its desirability. The property benefits from its adjacency to a major retail center, anchored by Walmart, Publix, and Crunch Fitness, attracting over 5.4 million visitors annually. This exceptional investment offers a secure, long-term income stream with significant upside potential in a thriving market. The weighted average lease term (WALT) remaining is 11.9 years.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Manatee
- State
- Florida
- Longitude
- -82.5144
- Latitude
- 27.3902
