239 US Hwy 301 E
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239 US Hwy 301 E
10,860 SF 100% Leased Office Building Bradenton, FL 34208 $1,750,000 ($161/SF) 7.98% Cap Rate
Investment Highlights
- High Visibility
- Solid Block Construction
- Abundant Parking
Executive Summary
DeSoto Professional Building is located just off of the main intersection of US 41 and Highway 301 Boulevard in Bradenton Fl. At 10,860 FT this office building consists of eight rental office suites ranging from 1,200 ft up to 1680 square feet all of the offices are leased to happy tenants who are paying below market rents. Half of the tenants are currently on month-to-month leases, presenting an opportunity to transition to Triple Net Leases. By restructuring the leases, this will shift the expenses of property taxes, property insurance, and maintenance costs to the tenants in the coming years. The remaining tenants are set to renew their leases within 2024.
The Pro-forma numbers are based on converting leases to a triple net structure.
The Pro-forma numbers are based on converting leases to a triple net structure.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
10,860 SF
Building Class
C
Year Built
1983
Price
$1,750,000
Price Per SF
$161
Cap Rate
7.98%
NOI
$139,728
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
10,860 SF
Building FAR
0.19
Lot Size
1.33 AC
Opportunity Zone
Yes
Zoning
GC - General Commercial District
Parking
52 Spaces (4.42 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Drop Ceiling
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | 47790-0000-1 | Total Assessment | $927,934 (2023) |
| Land Assessment | $402,949 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $524,985 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
47790-0000-1
Land Assessment
$402,949 (2023)
Improvements Assessment
$524,985 (2023)
Total Assessment
$927,934 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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239 US Hwy 301 E
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