2032 Hillview StSarasota, FL 34239

Property Details for 2032 Hillview St

Year built

1957

Construction

FRAME

Lot size

0.33 AC

Property size (Sq ft)

4,231 SF

Zone code

OPB

Property type

Office buildings

APN

2035-13-0065

APU

2035130065

Description

This exceptional 4,230 square foot office building, situated on 3.3 acres in the Sarasota/Manatee submarket, presents a unique investment opportunity. Built in 1957 and extensively renovated in 2017, the property boasts a single-story, Class B construction. Currently, 1,715 square feet of versatile space is available for lease, ideal for a variety of uses including traditional office, coworking, medical office, or creative office tenants. The building's prime location offers unparalleled convenience, being just one block east of the well-lit intersection of US 41 on Hillview Avenue. This central location provides easy access to Sarasota Memorial Hospital and the numerous restaurants along Hillview Avenue, enhancing the property's appeal and attracting a diverse clientele. The property's multiple tenancy structure allows for flexibility and potential for increased revenue streams. This is a rare opportunity to acquire a well-maintained, centrally located office building with significant upside potential in a thriving Sarasota/Manatee market. The existing infrastructure and recent renovations minimize immediate capital expenditure needs, allowing for a swift return on investment. The ample land area offers potential for future expansion or development, further enhancing the long-term value proposition.

• CAP approach

  CAP return

  Valuation

  6%

  $1,122,316

  6.5%

  $1,035,984

  7%

  $961,985

• Comparable approach

  Method

  Valuation

  Relative Method

  $848,779

  Geo Method

  $772,708

• Alternative Use

  Use

  Valuation

  Residential

  $1,284,620

  Hospitality

  $1,176,705

  Educational

  $979,005

  Medical

  $1,012,674

  Retail

  $1,522,896

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3161

Longitude

-82.529

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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