For Sale
$4,213,000

3070 Fruitville Cmns BlvdSarasota, FL 34240

High-Yield, 100% Leased Retail Pad

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 7,506 square foot, multi-tenant retail pad located at 3070 Fruitville Commons Blvd in Sarasota, FL 34240. The property, built in 2023, is situated on one acre of land and boasts a prime location, fronting Fruitville Road (55,000 vehicles per day) and adjacent to I-75's on/off ramps (123,000 vehicles per day). The building is 100% occupied by four tenants—Squeeze Massage, Generator Super Center, The Covery, and Linkster's Tap Room—all under brand new, 10-year NNN leases with rental increases built in. This ensures a stable and predictable income stream, generating a net operating income (NOI) of $259,110 and a 6.15% cap rate. The asking price is $4,213,000, translating to $561.28 per square foot. The property is part of the larger Fruitville Commons development, encompassing 300,000 square feet of office and commercial space, and 300 luxury apartments. This strategic location benefits from proximity to major retailers such as Sam's Club, Lowe's, Target, Publix, Winn-Dixie, Dollar Tree, and Office Depot. The surrounding area is experiencing significant growth, with an influx of new retail, hotel, office, and residential developments anticipated. The 1-mile trade area is projected to grow by 7% over the next five years, further enhancing the long-term value of this investment. The 5-mile trade area includes nearly 135,000 residents (average household income $109,802) and 65,000 employees. This property offers a compelling combination of strong tenant occupancy, favorable lease terms, and a high-growth location, making it an ideal addition to any investment portfolio.

Highlights

  • 100% leased, multi-tenant retail strip with Squeeze Massage, Generator Super Center, The Covery, and Linkster's Tap Room.
  • Brand new, 10-year NNN leases with built-in rent increases for all tenants.
  • 2023-built, 7,506 SF retail pad site in a high-traffic location.
  • Prime location within Fruitville Commons, a development including 300,000 SF of office/commercial space and 300 luxury apartments.
  • High visibility, fronting Fruitville Road (55,000 VPD) and adjacent to I-75 on/off ramps (123,000 VPD).
  • Strong co-tenancy with national retailers including Sam's Club, Lowe's, Target, Publix, Winn-Dixie, Dollar Tree, and Office Depot.

Property Details for 3070 Fruitville Cmns Blvd

Property type
Retail properties, Restaurants
Square Feet
7,506 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
43,560 SF
Units
4

Location Insight

City
Sarasota
County
Sarasota
State
Florida
Latitude
27.3392783
Longitude
-82.4426312
3070 Fruitville Cmns Blvd, Sarasota, Florida

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3070 Fruitville Cmns Blvd
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