For Sale
$4,165,400

8251 15Th St Sarasota, FL 34243

50,000 SF Industrial Net Lease, 7% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
135
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.

Highlights

  • Offering two freestanding industrial buildings totaling 50,284 square feet with a projected 7% capitalization rate.
  • Building 1: 33,700± sq. ft.; Building 2: 16,584± sq. ft.
  • Adjacent to Sarasota Bradenton International Airport, with convenient access to US-301, US-41, and I-75.
  • Zoned Planned Development/Mixed-Use.
  • Subject to a long-term ground lease expiring July 31, 2041.

Property Details for 8251 15Th St

Property type
Warehouses, Industrial properties
Square Feet
50,284 SF
Year Built/Renovated
1975/2019
Buildings
2
Stories
1
Lot Size (sq. ft)
223,898 SF

Location Insight

City
Sarasota
County
Manatee
State
Florida
Latitude
27.392585
Longitude
-82.546112

FAQs

What type of property is this?
Warehouse - 50,000 SF Industrial Net Lease, 7% Cap Rate
Where is the warehouse located?
The property is located at 8251 15Th St Sarasota, FL.
What is the asking price?
The asking price for this property is $4,165,400.
What are key features of this property?
This property features: Offering two freestanding industrial buildings totaling 50,284 square feet with a projected 7% capitalization rate.; Building 1: 33,700± sq. ft.; Building 2: 16,584± sq. ft.; Adjacent to Sarasota Bradenton International Airport, with convenient access to US-301, US-41, and I-75.
How can I contact the broker?
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8251 15Th St
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