8251 15Th St Sarasota, FL 34243

Property Details for 8251 15Th St

Year built

1975

Lot size

5.14 lot acres

Property size

50,284 SF

Property type

Distribution centers

Property subtype

Fulfillment centers

APN

2023010057

Description

This exceptional investment opportunity presents a multi-tenant industrial portfolio totaling 50,284 square feet of rentable space, situated on a 5.14-acre lot in Sarasota, Florida. The property comprises two single-story buildings: a 33,700 square foot building constructed in 1975 and renovated in 2019, and a 16,584 square foot building built in 1997. Both buildings are strategically located adjacent to Sarasota Bradenton International Airport, offering convenient access to major transportation arteries including US-301 (approximately 1 mile), US-41 (approximately 3.8 miles), and I-75 (approximately 6.5 miles). The property benefits from a long-term ground lease with the Sarasota Manatee Airport Authority, expiring July 31, 2041, with a current annual ground rent of $116,628, subject to review in 2026. The property is zoned PD-MU (Planned Development-Mixed Use) and boasts a strong net operating income (NOI) of $291,578, resulting in an attractive 7% capitalization rate. The asking price for this exceptional investment is $4,165,400. Building 1 is a fully occupied multi-tenant structure, while Building 2 is occupied by Sunstate International Trucking under a modified gross lease. Detailed information regarding the ground and tenant leases is available upon request. This property represents a compelling investment opportunity in a high-growth area of Southwest Florida. The property's location, strong tenancy, and long-term ground lease provide a stable and attractive investment profile.