5678 Fruitville RdSarasota, FL 34232

Property Details for 5678 Fruitville Rd

Year built

1987

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.35 AC

Property size (Sq ft)

14,979 SF

Zone code

ILW

Property type

Retail properties

Property subtype

Retail space

APN

0047-03-0001

APU

47030001

Description

This exceptional 24,822 square foot retail strip center in Sarasota, Florida, presents a compelling investment opportunity. Located at 5678 Fruitville Rd, 34232, this fee-simple property boasts six units with 100% occupancy and a strong 8.5-year weighted average lease term (WALT). Generating a Net Operating Income (NOI) of $465,291, it offers a 7.25% capitalization rate and is priced at $6,417,800 ($258.55/sq ft). The property features 41 parking spaces on a 1.33-acre lot and benefits from built-in rent bumps. Situated on a high-traffic corridor (60,000+ vehicles per day) with excellent visibility, the center enjoys dual points of ingress/egress. Recent improvements include a newer roof and AC units (within the last 3-5 years). Its prime location offers quick access to I-75 and proximity to major retailers like Lowe's, Chick-fil-A, Sam's Club, Target, Publix, and Winn-Dixie. Furthermore, the property generates additional income from billboard advertising. The center is directly across from the planned Sarasota Orchestra Music Center, a significant development expected to further enhance the area's appeal and foot traffic. Lease details are available upon request. This is a rare opportunity to acquire a well-positioned, multi-tenant retail property with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $5,840,798

  6.5%

  $5,391,506

  7%

  $5,006,398

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,572,426

  Geo Method

  $6,893,749

• Alternative Use

  Use

  Valuation

  Residential

  $4,547,936

  Hospitality

  $4,165,886

  Educational

  $3,465,968

  Medical

  $3,585,168

  Retail

  $5,391,506

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3373

Longitude

-82.4559

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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