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

Retail properties

Property subtype

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

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].