7778 Westmoreland DrSarasota, FL 34243

Property Details for 7778 Westmoreland Dr

Year built

1952

Property size (Sq ft)

2,412 SF

Property type

Mixed-use properties

Property subtype

Multifamily properties

Description

This exceptional mixed-use investment property in Sarasota, Florida, presents a compelling opportunity. Located at 7778 Westmoreland Dr, 34243, this 2-story, 2,412 square foot building boasts a 7.00% cap rate and a strong net operating income (NOI) of $66,000. The property features a 100% occupancy rate with two long-term tenants. The first floor comprises a traditional office space, while the second floor houses a two-bedroom, one-bathroom apartment. Constructed in 1952 and extensively renovated in 2022, including a new roof, this concrete block building offers durable construction and modern amenities. The property sits on a 3,136 square foot lot and benefits from prominent U.S. 41 frontage, providing excellent visibility and accessibility. Its convenient location offers proximity to both downtown Bradenton and downtown Sarasota, ensuring a strong tenant pool. Seven parking spaces are available on-site. The property is zoned GC and has a net rentable area of 3,136 square feet, with an asking price of $949,000 ($393.45 per square foot). This is a turn-key investment opportunity with significant upside potential. The building's recent renovations, strong tenant base, and prime location make it an attractive addition to any investment portfolio. The property's Manatee County location, close to Sarasota International Airport (0.9 miles), further enhances its appeal.

Location Insight

City

Sarasota

County

Manatee

State

Florida

Latitude

27.403

Longitude

-82.5671

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