Vacant Medical Office | 1720 Manatee Ave E
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Vacant Medical Office 1720 Manatee Ave E
8,463 SF Office Building Bradenton, FL 34208 $1,824,000 ($216/SF) 6% Cap Rate
Investment Highlights
- 2 Years Remaining | Annual Rental Increases | Options to Extend | Established Brand | Additional Reserve Expenses
- Dense Retail Corridor | Strong National/Credit Tenant Presence | Manatee Memorial Hospital | Nearby Apartments
- Strong Demographics in 5-mile Trade Area | Direct Consumer Base
- NN | Fee Simple Ownership | Limited Landlord Responsibilities
- Hard Corner Intersection | Excellent Visibility & Access
Executive Summary
• The tenant, MaxHealth, has 2 years remaining on their lease and has already vacated the premises
• The lease features 2% annual rental increases during the initial term and option periods, growing NOI and hedging against inflation
• The Tenant was paying $12.87 PSF in rent for the location, and the average market rent is between $20-25 PSF
• The building is ready to move on the ground floor, and the second floor consists of around 1,500 SF of unimproved space which can be leased out for additional income
• The second floor has its own entrance from the outside of the building
• The lease features 2% annual rental increases during the initial term and option periods, growing NOI and hedging against inflation
• The Tenant was paying $12.87 PSF in rent for the location, and the average market rent is between $20-25 PSF
• The building is ready to move on the ground floor, and the second floor consists of around 1,500 SF of unimproved space which can be leased out for additional income
• The second floor has its own entrance from the outside of the building
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
8,463 SF
Building Class
B
Year Built
2003
Price
$1,824,000
Price Per SF
$216
Cap Rate
6%
NOI
$109,506
Tenancy
Single
Building Height
1 Story
Typical Floor Size
8,463 SF
Building FAR
0.19
Land Acres
1.01 AC
Zoning
UCC - UCC (Urban Commercial Corridor)
Parking
41 Spaces (4.84 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 12695-0010-9 | Improvements Assessment | $1,153,920 |
| Land Assessment | $326,069 | Total Assessment | $1,479,989 |
PROPERTY TAXES
Parcel Number
12695-0010-9
Land Assessment
$326,069
Improvements Assessment
$1,153,920
Total Assessment
$1,479,989
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Jaime Salazar -
Power Broker Patrick Nutt -
William Wamble -
SRS Real Estate Partners
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Vacant Medical Office | 1720 Manatee Ave E
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