For Sale
$1,750,000

239 301 BlvdBradenton, FL 34208

Bradenton Office Building, High NOI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
Desoto Professional Plaza, a 10,860-square-foot office building in Bradenton, Florida, presents a compelling value-add investment opportunity. This single-story, 1983-built property boasts eight rental suites ranging from 1,200 to 1,680 square feet, currently 100% occupied. Located at 239 301 Blvd E, Bradenton, FL 34208, the property enjoys high visibility and abundant parking, situated near the intersection of US 41 and Highway 301 Boulevard. The building features solid block construction and sits on a 1.32-acre lot. Currently operating with a 6.03% cap rate and $105,582 NOI, the property offers significant upside potential. Half of the tenants are on month-to-month leases, allowing for a strategic transition to triple-net leases. The pro-forma cap rate is projected at 7.98% with a pro-forma NOI of $139,719, reflecting the anticipated increase in revenue from lease restructuring. The remaining tenants are expected to renew their leases in 2024. This property is zoned CG and offers an asking price of $1,750,000, or $174.95 per square foot. The current leases are below market rate, providing a clear path to increased profitability. This is a rare opportunity to acquire a well-located, fully occupied office building with substantial value-add potential in a growing market.

Highlights

  • 10,860 SF office building in Bradenton, FL, on a 1.32-acre lot.
  • High visibility and abundant parking at US 41 and Highway 301 intersection.
  • Eight suites (1,200-1,680 SF), currently 100% occupied, offering significant value-add potential.
  • Solid block construction; 6.03% cap rate, $105,582 NOI; pro-forma 7.98% cap rate, $139,719 NOI.
  • Asking price: $1,750,000 ($174.95/SF).

Property Details for 239 301 Blvd

Property type
Office properties
Square Feet
10,860 SF
Class
C
Year Built
1983
Buildings
1
Stories
1
Lot Size (sq. ft)
57,499 SF
Units
8

Location Insight

City
Bradenton
County
Manatee
State
Florida
Latitude
27.4644079
Longitude
-82.5605517
239 301 Blvd, Bradenton, Florida

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
239 301 Blvd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message