5869 Derek AveSarasota, FL 34238

Property Details for 5869 Derek Ave

Year built

2023

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.23 AC

Property size (Sq ft)

5,941 SF

Zone code

PID

Property type

Auto shops

APN

0099-01-0012

APU

99010012

Description

This exceptional investment opportunity presents a 6,036 square foot, single-tenant auto shop in Sarasota, Florida. The property boasts a 15-year absolute NNN lease with a strong corporate guarantee from Christian Brothers Automotive, a rapidly expanding national chain with over 275 locations. Built in 2022, the building sits on a 1.23-acre lot on high-traffic State Road 64, experiencing over 45,000 vehicles daily. The property enjoys 100% occupancy and generates a substantial NOI of $294,000, representing a 6.25% cap rate. The asking price is $4,705,000 ($779.49/sq ft). Rent escalates 1.5% annually starting in year six, and lease options extend the term up to 65 years. The property benefits from a prime location surrounded by numerous national retailers, including Starbucks, McDonald's, CVS, and more. The affluent area boasts an average household income exceeding $116,000, significantly higher than the national average, and a population of over 148,000 within a 5-mile radius. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,316,588

  6.5%

  $2,138,390

  7%

  $1,985,647

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,003,390

  Geo Method

  $2,734,212

• Alternative Use

  Use

  Valuation

  Residential

  $1,803,812

  Hospitality

  $1,652,282

  Educational

  $1,374,679

  Medical

  $1,421,956

  Retail

  $2,138,390

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.2681

Longitude

-82.4816

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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