For Sale
$5,000,000

8452 Tuttle AveSarasota, FL 34243

High-yield, 11.9-year NNN lease. Prime retail location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 6,552 square foot, Class A, single-story retail storefront located at 8452 Tuttle Ave, Sarasota, FL 34243. The property boasts a 100% occupancy rate with a 15-year absolute NNN lease to Tide Dry Cleaners, a franchisee of a leading US Tide Cleaners franchise group. The lease features a 5% rent increase every five years, providing significant long-term growth potential. The property sits on a 1.31-acre lot and was built in 2018. With a current NOI of $295,000 and an asking price of $5,000,000, this offering presents a compelling 5.90% cap rate. The property enjoys a prime location, situated 4.5 miles north of downtown Sarasota in a densely populated area with over 1,400 multifamily units and 6,800+ residents within a one-mile radius. Its convenient access via University Parkway (60,000+ vehicles per day) and proximity to I-301 (45,000+ vehicles per day) further enhance its desirability. The property benefits from its adjacency to a major retail center, anchored by Walmart, Publix, and Crunch Fitness, attracting over 5.4 million visitors annually. This exceptional investment offers a secure, long-term income stream with significant upside potential in a thriving market. The weighted average lease term (WALT) remaining is 11.9 years.

Highlights

  • 6,552 SF Class A retail storefront on a 1.31-acre lot in Sarasota, FL.
  • Absolute NNN lease to a leading national Tide Cleaners franchisee with 11.9 years remaining WALT.
  • 5.90% cap rate with a $295,000 NOI and $5,000,000 asking price.
  • Prime location 4.5 miles from downtown Sarasota, near major retail center (Walmart, Publix, Crunch Fitness) and high traffic roadways (University Parkway & I-301).
  • Strong demographics: Densely populated area with over 1,400 multifamily units and 6,800+ residents within one mile.
  • Built in 2018 with a 100% occupancy rate and 5% rent increases every five years.

Property Details for 8452 Tuttle Ave

Property type
Retail properties, Retail space
Square Feet
6,552 SF
Class
A
Year Built
2018
Buildings
1
Stories
1
Lot Size (sq. ft)
57,064 SF

Location Insight

City
Sarasota
County
Manatee
State
Florida
Latitude
27.3901881
Longitude
-82.5143979
8452 Tuttle Ave, Sarasota, Florida

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8452 Tuttle Ave
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