239 301 Blvd Bradenton, FL 34208

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.