3148 Southgate CirSarasota, FL 34239

Property Details for 3148 Southgate Cir

Year built

1961

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.28 AC

Property size (Sq ft)

3,300 SF

Zone code

CN

Property type

Office properties

Property subtype

Office buildings

APN

0057-08-0059

APU

57080059

Description

This exceptional 3,750-square-foot free-standing office building, located at 3148 Southgate Cir, Sarasota, FL 34239, presents a compelling investment opportunity. The Class B property, built in 1961, sits on a 12,000-square-foot lot and boasts 3,300 square feet of net rentable space, currently housing a mix of wellness and related service providers. The asking price is $1,469,000, translating to $424 per square foot. The single-story building features a mansard facade, stucco exterior, and a paved parking lot with approximately 29 spaces. Interior features include a versatile configuration with three separate suites, each with its own entrance and lobby, along with four restrooms and sixteen individual rooms. The property benefits from excellent street visibility and signage opportunities, a prime location minutes from downtown Sarasota, both local hospitals, Bee Ridge Road, Siesta Key, and I-75. Municipal water and sewer services are in place, and the property is zoned CN Commercial Neighborhood. The property includes standard utility easements. The APN is 0057080059. 2022 real estate taxes totaled $6,052.10. Financial details are available upon request with a signed Non-Disclosure/Confidentiality Agreement. This property is ideal for investors, particularly those seeking a 1031 exchange, or an operating business seeking a new home. Its proximity to Southgate Circle Park adds to its appeal. The building utilizes a central, electric heating system and an engineered air conditioning system. Internet access is available via cable.

• CAP approach

  CAP return

  Valuation

  6%

  $875,358

  6.5%

  $808,023

  7%

  $750,307

• Comparable approach

  Method

  Valuation

  Relative Method

  $662,012

  Geo Method

  $602,679

• Alternative Use

  Use

  Valuation

  Residential

  $1,001,949

  Hospitality

  $917,780

  Educational

  $763,582

  Medical

  $789,843

  Retail

  $1,187,794

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3059

Longitude

-82.5148

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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