2 Warehouse Buildings In 47th St Industrial Park

Highlights:

• Package of 2 side-by-side income producing buildings totaling 12,000 SF
• Great location with easy access to US-301
• Tenant with new 3 year lease in place plus two 1 year options
• Buildings in great condition with ample parking

Description:

This sale consists of 2 warehouse condos, both 6,000 SF each, totaling 12,000 SF. They are being sold as a package subject to an existing lease for a single tenant that has a new 3 year term lease in place with two 1 year options thereafter. The tenant is a local garage door company that does installation, repair, and replacement for garage doors and openers and the starting rent is $13/SF NNN. The property is offered at $2.6M which equates to a 6% CAP Rate. The sale is based on a newly executed lease (3 years plus two 1-year Options) with Impact Home Services. The service provider under this lease is a locally owed franchise of Precision Garage Door (www.precisiondoor-swfl.com).
Impact Home Services is a regional home-services company (www.impactholdings.us/locations) backed by the private equity firm Eagle Merchant Partners ( www.eaglemerchantpartners.com).
Please do not disturb tenant, call broker for showings or with any questions.

Located in an industrial park off of 47th Street, this property is well positioned for manufacruting, distribution, and storage. Right off of US-301, this location provides easy access to US-301 and is a straight shot to I-75 via either University Pkwy or Fruitville Rd. Additionally, it is located just 5 minutes from Downtown Sarasota and approximately 10 minutes from the SRQ Airport.

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