Address: 5411 14th St W, Bradenton, Florida, United States 34207
Cap Rate: 5.15%
Lease Type: Triple Net (NNN)
Annual Rent: $142,000
Net Operating Income: $142,000
Lease Term Remaining: 19.9 Years
Rental Increases: 10% Every Five Years
Options: Four, Five-Year Option Periods
Rentable Sq/Ft: 2,586 SF
Rent Sq/Ft: $54.91
Price Sq/Ft: $1066
Lot Size: 0.84
The subject investment property is situated along South 14th Street W, which serves as a main traffic artery in the area and has an average daily traffic count of 54,000 vehicles. Nearby 53rd and 57th Avenues bring a total of 23,000 and 13,000 in the immediate area, on average, each day. There are more than 101,000 individuals residing within a three-mile radius of the property and more than 175,000 individuals within a five-mile radius.
The subject property benefits from being well-positioned in a highly populous suburb of Sarasota, Florida. The surrounding retail corridor consists of national and local tenants, shopping centers, and hospitality accommodations all within close proximity of this property. Major national tenants include: Target, Taco Bell, CVS, Bank of America, Walgreens, Aldi, Red Lobster, Harbor Freight Tools, IHOP, Family Dollar, 7-Eleven, Winn Dixie, Publix, Sonic, Dunkin’ Donuts, and Starbucks. In addition to these numerous retail and restaurant concepts, the subject property benefits from being located just over one-mile northeast of the State College of Florida, Manatee-Sarasota. The college is a part of the larger State College of Florida system, which also has campuses in Venice and Lakewood. With a total enrollment of over 11,000 students, the college is the region’s largest and oldest public college. Adding to the strong academic presence surrounding the subject property is Bayshore High School, one of the largest high schools in the immediate area with a total enrollment exceeding 1,600 students.
Sarasota is the seat of Sarasota County located on the southwestern coast of Florida. The area is renowned for its cultural and environmental amenities, beaches, resorts, and the Sarasota School of Architecture. Sarasota is the home of the Sarasota Orchestra, which was founded by Ruth Cotton Butler in 1949 and known for years as the Florida West Coast symphony. It holds the three-week-long Sarasota Music Festival that is recognized internationally and attracts renowned teachers and the finest students of chamber music. Sarasota is also home to the Municipal Auditorium—Recreation Club, built by the Works Progress Administration, the municipal government, and local residents and business owners, which has become a center for sports, entertainment and recreation. The sports activities have ranged from badminton, basketball, boating, lawn bowling, and shuffleboard, to tennis. The auditorium hosts clubs for cards, dancing, games, gardening and numerous hobbies. It has also become the community meeting place for commercial and educational shows as well as the venue for local schools and charities to hold events and dances. Tourists are attracted to exhibitions here provided by local business as well as vendors from national circuits. This building was listed in the National Register of Historic Places because of its architecture and for providing the enormous range of community activities that are scheduled there every week.
BROKER OF RECORD: Ryan Nee Lic.# BK3154667