1297 Tamiami Trl Osprey, FL 34229-9109
- Office buildings
- 4,260 SF
- 0.75 lot acres
Nov 28, 2022
Current Use by Public Records
- Jasmine Arneja, DDS / Dentist
- Ashley L. Wagler, DMD / Dentist
- Ritu Kulkarni, DMD / Dentist
- Dental Care at Casey Key / Dentist
- Eugene S. Kulaga, DDS / Dentist
Property Details for 1297 Tamiami Trl
- Year built
- 2021
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.75 lot acres
- Property size
- 4,260 SF
- Zone code
- CG
- Property type
- Office buildings
- APN
- 0155-05-0110
- APU
- 155050110
Description
This exceptional investment opportunity presents a fee-simple ownership of a 4,260 square foot Class A storefront, currently 100% occupied by Heartland Dental, the nation's largest dental support organization. Located at 1297 S Tamiami Trail in Osprey, Florida (zip code 34229), this property sits on a 0.75-acre lot in a high-traffic retail corridor boasting over 280,000 square feet of retail space within a one-mile radius, including prominent anchors like Publix, Ace Hardware, and Walmart. The building, constructed in 2022, benefits from transferable warranties and is situated directly across from Pine View School, serving approximately 2,000 students. The affluent surrounding area boasts over 2,000 homes within one mile and over 10,500 within three miles, with an average household income exceeding $161,088. The property features a Net-Net (NN) lease with a corporate guarantee from Heartland Dental, providing minimal landlord responsibilities. The current lease, commencing February 3, 2022, and expiring February 27, 2032, has eight years remaining, with attractive lease terms including 10% rent increases every five years, and four five-year renewal options. The property generates a strong Net Operating Income (NOI) of $153,360, resulting in a compelling 5.90% cap rate. This is a rare opportunity to acquire a high-performing, newly constructed asset in a rapidly growing market with a creditworthy, long-term tenant. The Sarasota MSA experienced exceptional growth from 2023-2024, and the area saw a 2.2% population increase and a nearly 5% median household income increase from 2021-2022. This property offers a secure and profitable investment with significant long-term potential. The asking price is $2,599,000.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $535,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,105,000
- 6.5%
- $1,020,000
- 7%
- $945,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,069,000
Market price range: $649k - $1.07M
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Location Insight
- Map
- Local Demand
- City
- Osprey
- County
- Sarasota
- State
- Florida
- Longitude
- -82.4808
- Latitude
- 27.1781
- CBSA code
- 35840
- CBSA name
- NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA
