6455 Gateway AveSarasota, FL 34231

Property Details for 6455 Gateway Ave

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.25 AC

Property size (Sq ft)

3,150 SF

Zone code

CG

Property type

Office properties

Property subtype

Office buildings

APN

0104-01-0009

APU

104010009

Description

This fully leased, multi-tenant retail property in Sarasota, Florida, offers a compelling investment opportunity with a strong 7.26% cap rate. Located at 6455 Gateway Ave, this prime corner lot boasts 3,150 net rentable square feet across three storefronts, each currently leased for $3,500 per month (two on 24-month leases, one with 16 months remaining). The property features a total of 12 deeded parking spaces and benefits from a four-way stop at the entrance to a Publix, ensuring high visibility and accessibility. Completely renovated in 2023 with new electrical, plumbing, HVAC, and more, the property includes three ADA-compliant restrooms. The 10,742 square foot lot is zoned CG, offering significant value-add potential. This includes the possibility of adding two apartments and one commercial unit, or multiple additional commercial storefronts, on a second floor. The property's proximity to Siesta Key Beach (less than two miles) also presents opportunities for short-term rentals (subject to local regulations). Existing signage includes a marquis and electric box signs, with potential for additional billboard signage. The seller will credit the buyer at closing for pre-paid rent on two units, totaling $168,000, significantly reducing the buyer's down payment. This exceptional property presents a rare opportunity to acquire a high-performing retail asset in a thriving Sarasota location. The property's strong tenant base, prime location, and significant value-add potential make it an attractive investment for both seasoned investors and owner-users. The building is a single-story, fee-simple ownership. The year built is 1982, with renovations completed in 2023.

• CAP approach

  CAP return

  Valuation

  6%

  $910,934

  6.5%

  $840,862

  7%

  $780,801

• Comparable approach

  Method

  Valuation

  Relative Method

  $627,443

  Geo Method

  $575,284

• Alternative Use

  Use

  Valuation

  Residential

  $1,042,669

  Hospitality

  $955,079

  Educational

  $794,615

  Medical

  $821,943

  Retail

  $1,236,067

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.2617

Longitude

-82.5163

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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