Contacts

Michael Hollander

Hembree & Associates

Property Details

Property Type Office - Government Office
Property Size 18,330 SF
Lot Size 1.5 Acre
Additional Rent Contact for pricing
Building Class B
Year Built 2008
Year Renovated 2009
Date Updated Oct 25, 2024

Northwood Executive Suites is an attractive building close to University Parkway.Fully Leased. Room for income growth when some leases reach maturity. Building in excellent condition. Adjusted CAP Rate: 6.15% - with an asking value of $3,054,545.00 for existing building - Plus $545,454.00 for building site (Not included in 6.15% Cap Rate). See Following: Considering a min value of $545,454.00 this equates to $33.49/sf under the original designed building or a $8.37 /sf in land value at a 25% building coverage ratio. Site work including: Site Lateral Plumbing, Retention, Hard & Pervious Parking intended for second building are already in place Building is 16,278 RSF. (6) Office Suites on 1st Fl w/ direct entrances. 2nd Floor has (2) Tenants, 3rd Floor has (2) Tenants. 3 of the Tenants have combined multiple suites. Most Tenants have been in place since 2019. Newest 3,300 sf Tenant agreed to a 5 year term in 2024 Above conditions and referenced property entitlements need to be verified with county by purchaser in a due diligence period.Northwood Executive Suites is an attractive building close to University Parkway and UTC businesses, shopping and restaurants. The 992 SF space is on the ground floor with separate entrance and plenty of parking. Take advantage of this rare opportunity in Sarasota!

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Highlights

24hr Controlled Access
Fenced Lot
Signage
AC

Getting around

15/100
Walk Score ®
48/100
Bike Score ®

Powered by Walk Score ®

City Sarasota, FL
Neighborhood Hamlets Grove
Zip Code 34234
Market Southwest Florida Coast

Points of Interest

7-Eleven

0.20 miles
Shell

0.77 miles
Marathon

0.80 miles
Speedway

0.84 miles
ChargePoint

1.52 miles
Chevron

1.81 miles
BP

1.81 miles
Wawa

2.52 miles
Tesla Supercharger

2.56 miles
Publix Supermarket at Lockwood Commons

4.61 miles

Cell Phone Lot

2.63 miles
Overflow Lot A

2.74 miles
Shade Parking

2.84 miles
Long Term Parking

2.98 miles
Short Term Parking

3.00 miles
Rental Car Parking

3.08 miles
State Street Parking Garage

3.65 miles
Palm Avenue Parking Garage

3.77 miles
North Parking Garage

4.39 miles
Waldemere Parking Garage

4.42 miles

Residence Inn Sarasota Bradenton

2.72 miles
SpringHill Suites Sarasota Bradenton

2.80 miles
DoubleTree

2.84 miles
Hampton Inn & Suites

2.87 miles
Homewood Suites by Hilton Sarasota

2.87 miles
Hyatt Place

2.88 miles
Sleep Inn Sarasota North

2.93 miles
Homewood Suites Sarasota Lakewood Ranch

2.97 miles
Courtyard Sarasota Bradenton Airport

2.99 miles
Quality Inn Sarasota Near Lido Key Beach

3.02 miles

Detwiler's Farm Market

0.60 miles
Publix

0.95 miles
Walmart Supercenter

0.97 miles
Key Food

1.70 miles
Whole Foods Market

2.57 miles
Big Lots

2.58 miles
Asian grocery

2.64 miles
Bealls

2.67 miles
Walmart Neighborhood Market

2.90 miles
Target

2.93 miles

In-Depth Research Available for this Property

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