901 Cortez RdBradenton, FL 34207

  • Retail properties
  • 2,480 SF
For Sale
$2,972,973 View listing

Property Details for 901 Cortez Rd

Year built
2012
Lot size
0.54 AC
Property size (Sq ft)
2,480 SF
Zone code
GC
Property type
Retail properties
Property subtype
Grocery and convenience stores
APN
53598.0045-9
APU
5359800459

Description

This exceptional investment opportunity presents a brand-new, 23,448-square-foot Starbucks located at 901 Cortez Rd W, Bradenton, FL 34207. The property boasts a 10-year net lease with Starbucks Corporation, commencing January 2025, and featuring six 5-year renewal options with 10% rent increases at the start of each. The annual base rent is $165,000, increasing by 10% in year six. This strategically positioned outparcel within the 274,398-square-foot Cortez Plaza enjoys excellent visibility and access on Cortez Road (42,000 vehicles per day), benefiting from strong co-tenancy with Sprouts, LA Fitness, Burlington, and PetSmart. The property, built in 2024, offers a 5.55% cap rate and a price per square foot of $126.79. The asking price is $2,972,973. Situated in a densely populated area (102,130 residents within a 3-mile radius), this investment benefits from Florida's favorable tax environment and minimal landlord responsibilities. The property is free of any encumbrances. This is a turnkey investment with significant long-term growth potential. The 2,661+/- square-foot building includes a drive-thru.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $863,314
    6.5%
    $796,906
    7%
    $739,984
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,173,378
    Geo Method
    $1,141,364
  • Alternative Use

    Use
    Valuation
    Residential
    $672,220
    Hospitality
    $615,750
    Educational
    $512,296
    Medical
    $529,915
    Retail
    $796,906
901 Cortez Rd, Bradenton, Florida

Location Insight

City
Bradenton
County
Manatee
State
Florida
Latitude
27.462
Longitude
-82.5715
CBSA code
35840
CBSA name
NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,032
$323,920
$239,173
$563,093
-
$323,920
$239,173
$563,093

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