Lime Arts

925 N Lime Ave, Sarasota, FL

$3,300,000

Price

10,000 sqft

Building Size

0.3903 acres

Lot Area

Gallery
Street
Map
Overview
Building Size
10,000 sqft
Lot Area
0.3903 acres
Occupancy
100%
Units
4
Year Built
1959
Floors
1
Description

Ian Black Real Estate has been exclusively retained to present an exciting opportunity to acquire a significant stake in Sarasota's next great neighborhood close to Downtown Sarasota. This is an important sale of one of the most recognizable buildings in the emerging Limelight District. Driven by its diverse community of over 100 independent businesses, the Limelight District will continue to evolve as Sarasota’s location of choice for artists, makers, and innovative businesses providing a vibrant and enriching experience for those working and visiting the area (https://www.limelightdistrict.com). With retail frontage on Lime Avenue and parking on both Lime and Apricot Avenues, the property allows for access from the front and rear of the building. The 10,000 SF concrete block building was meticulously renovated by the Seller in 2023 with close attention paid to updating the building to its former glory. Whilst the property is currently 100% leased to four 2,500 SF tenants, this sale will appeal to not only the investor but potential owner occupiers. Leases include a variety of term lengths and Tenants cover the spectrum of the creative arts as well as the University of South Florida. Seller financing available for well qualified buyers. All Leases are NNN.

Limelight District

Highlights
  • Building Updates in 2023
  • New 60 mil membrane roof with a 20 year transferable warranty
  • New membrane roof was installed over new insulation
  • New electrical service
  • Water supply & waste lines replaced from main utility connection
  • New storefront impact rated, double glazed glass and doors on Lime Ave
  • Unit 923 | 2,500 SF
  • New insulated rollup door
  • Units 925 | 2,500 SF
  • New insulated rollup doors on Apricot Ave
  • New electrical panel in unit and throughout
  • New HVAC system, consisting of two, high efficiency rooftop units
  • New LED lighting throughout
  • New restroom and plumbing throughout
  • Complete interior buildout with kitchen and eight private offices
  • Unit 927 | 2,500 SF
  • Impact rated store front glass and entry door on Apricot Ave
  • New electrical panel in unit and throughout
  • New HVAC system, consisting of two, high efficiency rooftop air condition units
  • New LED lighting throughout
  • New restroom and plumbing throughout
  • Unit 929 | 2,500 SF
  • New insulated rollup doors on Apricot Ave
  • New electrical panel in unit and throughout
  • New HVAC system, consisting of two, high efficiency rooftop units
  • New LED lighting throughout
  • New restroom and plumbing throughout
  • Complete interior buildout, with a gallery space on the Lime Avenue side, five private offices, six built-in cubicles, custom fabricated suspended metal ceiling panels, custom LED ceiling lighting, and a kitchen
Documents
Location
Gallery