5869 Derek Ave Sarasota, FL 34238-2776
- Auto shops
- 5,941 SF
- 1.23 lot acres
Jan 07, 2025
Current Use by Public Records
- Christian Brothers Automotive South Sarasota / Auto Repair Shop
Property Details for 5869 Derek Ave
- Year built
- 2023
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.23 lot acres
- Property size
- 5,941 SF
- Zone code
- PID
- Property type
- Auto shops
- APN
- 0099-01-0012
- APU
- 99010012
Description
This exceptional investment opportunity presents a 6,036 square foot, single-tenant auto shop in Sarasota, Florida. The property boasts a 15-year absolute NNN lease with a strong corporate guarantee from Christian Brothers Automotive, a rapidly expanding national chain with over 275 locations. Built in 2022, the building sits on a 1.23-acre lot on high-traffic State Road 64, experiencing over 45,000 vehicles daily. The property enjoys 100% occupancy and generates a substantial NOI of $294,000, representing a 6.25% cap rate. The asking price is $4,705,000 ($779.49/sq ft). Rent escalates 1.5% annually starting in year six, and lease options extend the term up to 65 years. The property benefits from a prime location surrounded by numerous national retailers, including Starbucks, McDonald's, CVS, and more. The affluent area boasts an average household income exceeding $116,000, significantly higher than the national average, and a population of over 148,000 within a 5-mile radius. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,890,000
- ML approach
- $4,685,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Sarasota
- State
- Florida
- Longitude
- -82.4816
- Latitude
- 27.2681
- CBSA code
- 35840
- CBSA name
- NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA
