venice medical office off i-75 and jacaranda...jacaranda 435 commercial court venice, fl 34292 n/a...

For Sale | Office Space

PROPERTY HIGHLIGHTS

• Excellent Investment or Owner/User Opportunity

• Owner financing available

• 65% NNN Lease to Sarasota Orthopedics Associates

• 6 Years Remaining with Step Up Annual Escalations

• Well Built Concrete Structure with High Impact Windows

• I-75 Visiblity and Quick access

435 Commercial Court, Venice, FL 34292

CONFIDENTIAL OFFER ING MEMORANDUM

Venice Medical Office Off I-75 And Jacaranda

PRESENTED BY:

GAIL BOWDENSenior Commercial Real Estate Advisor

941.525.8283

[email protected] SOUTH WASHINGTON BLVD | SARASOTA, FL | 941.957.3730

18,078 SF • 435 COMMERCIAL COURT • VENICE, FL

TABLE OF CONTENTS

100 SOUTH WASHINGTON BLVD | SARASOTA, FL | 941.957.3730

3SECTION 1: PROPERTY INFORMATIONExecutive Summary

Property Description

Property Details

Additional Photos

8SECTION 2: LOCATION INFORMATIONLocation Maps

Aerial Map

11SECTION 3: FINANCIAL ANALYSISFinancial Summary

Income & Expenses

Rent Roll

15SECTION 4: RENT COMPARABLESRent Comps

Rent Comps Summary

Rent Comps Map

19SECTION 5: DEMOGRAPHICSDemographics Report

Demographics Map

22SECTION 6: ADVISOR BIOSBiography 1

Back Page


S E C T I O N 1

Property Information

EXECUTIVE SUMMARY



DEMOGRAPHICS 1 Mile 3 Miles 5 Miles

Total Households: 1,369 13,226 31,728

Total Population: 2,605 25,608 64,660

Average HH Income: $67,122 $63,281 $61,639

PROPERTY HIGHLIGHTS

• Excellent Investment or Owner/User Opportunity

• Owner financing available

• 65% NNN Lease to Sarasota Orthopedics Associates

• 6 Years Remaining with Step Up Annual Escalations

• Well Built Concrete Structure with High Impact Windows

• I-75 Visiblity and Quick access

• Covered Drop off and Pick up Entry

OFFERING SUMMARY

Sale Price: $2,950,000

Price / SF: $163.18

Lot Size: 1.27 Acres

Year Built: 2007

Building Size: 18078 SF

Renovated: 2014

Zoning: CHI - Commercial

Highway Interchange

Market: Venice

Submarket: SW Florida

PROPERTY DESCRIPTION



PROPERTY OVERVIEW

Stable cash flow opportunity for owner/user or investor. Free standingClass "A" Medical property with 65% leased to Sarasota OrthopedicAssociates. Very well constructed building with a canopy covered dropoff and pick up entry. Proximity to I-75 is perfect for practices with aregional client base. The vacant 3rd floor is completely built out andready for immediate occupancy.

LOCATION OVERVIEW

I-75 exposure on the Jacaranda Interchange. Immediate area consists of3 quality brand hotels, McDonald's, Cracker Barrel, various otherrestaurants and offices next door.


PROPERTY DETAILS


PROPERTY NAME: Venice Medical Office off I-75 and Jacaranda

PROPERTY ADDRESS: 435 Commercial Court

Venice, FL 34292

PROPERTY TYPE: Office

APN: 0400 09 0004

PRICE / SF: $163.18

LOT SIZE: 1.27 AC

BUILDING CLASS: A

ZONING: CHI - Commercial Highway Interchange

PARKING SPACES: 58

PARKING RATIO: 3.22

BUILDING FRONTAGE:

CROSS STREETS: Jacaranda Boulevard & I-75

YEAR BUILT: 2007

CONSTRUCTION TYPE:

NUMBER OF STORIES: 3

AVERAGE FLOOR SIZE:

FOUNDATION: Concrete Slab

WALLS:

NUMBER OF UNITS: 3

ROOF: Built up tar and gravel - Low Pitch Shed Roof

ADDITIONAL PHOTOS




S E C T I O N 2

Location Information

LOCATION MAPS



AERIAL MAP




S E C T I O N 3

Financial Analysis

FINANCIAL SUMMARY



INVESTMENT OVERVIEW CLASS A MEDICAL

Price $2,950,000

Price per SF $163.18

CAP Rate -

Cash-on-Cash Return (yr 1) - %

Total Return (yr 1) -

Debt Coverage Ratio -

OPERATING DATA CLASS A MEDICAL

Gross Scheduled Income $262,187

Other Income -

Total Scheduled Income -

Vacancy Cost -

Gross Income -

Operating Expenses -

Net Operating Income -

Pre-Tax Cash Flow -

FINANCING DATA CLASS A MEDICAL

Down Payment -

Loan Amount -

Debt Service -

Debt Service Monthly -

Principal Reduction (yr 1) -

INCOME & EXPENSES



INCOME SUMMARY CLASS A MEDICAL PER SF

SOA $134,050 $7.42

GROSS INCOME $134,050 $7.42

EXPENSE SUMMARY CLASS A MEDICAL PER SF

GROSS EXPENSES - -

NET OPERATING INCOME - -

RENT ROLL



TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

MARKETRENT

ANNUALRENT

% OFBUILDING

PRICEPER SF/YR

Sarasota Orthopedic Associates 1st & 2nd Floor 9,575 $86,175 52.96 $9.00

Pro Forma - TBN 3rd Floor 4,993 $89,874 27.62 $18.00

Totals/Averages 14,568 $0 $176,049 $12.08


S E C T I O N 4

Rent Comparables


RENT COMPS


SUBJECT PROPERTY

435 Commercial Court | Venice, FL 34292

$12.08 SFLease Rate: NNNLease Type:1,312 - 5,466 SFSpace Size: 2007Year Built:

1.27 ACLot Size: 3No. Units:

VENICE COMMONS OFFICE

1497 E. Venice Ave | Venice, FL 34292

$15.00 SFLease Rate: NNNLease Type:

1,937 SFSpace Size: 2007Year Built:

5,000 SFBldg Size:

1

1

1200 JACARANDA BLVD

Venice, FL 34292

$17.00 SFLease Rate: NNNLease Type:

5,600 SFSpace Size: 96,000 SFBldg Size:

95%Occupancy:

2

2


SUBJECT PROPERTY PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

Venice Medical Office off I-75 andJacaranda435 Commercial CourtVenice, FL 34292

N/A 1,312 - 5,466 SF 18,078 SF 3 65.0%

RENT COMPS PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

1Venice Commons office1497 E. Venice AveVenice, FL 34292

$15.00 1,937 SF 5,000 SF - -

2 1200 Jacaranda BlvdVenice, FL 34292

$17.00 5,600 SF 96,000 SF - 95%

PRICE/SF/YEAR AVAILABLE SF BLDG SF # OF UNITS OCCUPANCY %

TOTALS/AVERAGES $16.00 3,769 SF 50,500 SF 0 95%

RENT COMPS SUMMARY



RENT COMPS MAP


435 Commercial Court | Venice, FL 34292

SUBJECT PROPERTY

1 1497 E. Venice AveVenice, FL 34292

VENICE COMMONS OFFICE2 1200 Jacaranda Blvd

Venice, FL 34292


S E C T I O N 5

Demographics

DEMOGRAPHICS REPORT



* Demographic data derived from 2010 US Census

1 MILE 3 MILES 5 MILES

Total households 1,369 13,226 31,728

Total persons per hh 1.9 1.9 2.0

Average hh income $67,122 $63,281 $61,639

Average house value $342,286 $344,176 $291,526

1 MILE 3 MILES 5 MILES

Total population 2,605 25,608 64,660

Median age 65.6 64.6 60.0

Median age (male) 66.3 64.1 59.5

Median age (female) 64.9 65.0 60.7

DEMOGRAPHICS MAP



* Demographic data derived from 2010 US Census

POPULATION 1 MILE 3 MILES 5 MILES

TOTAL POPULATION 2,605 25,608 64,660

MEDIAN AGE 65.6 64.6 60.0

MEDIAN AGE (MALE) 66.3 64.1 59.5

MEDIAN AGE (FEMALE) 64.9 65.0 60.7

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

TOTAL HOUSEHOLDS 1,369 13,226 31,728

# OF PERSONS PER HH 1.9 1.9 2.0

AVERAGE HH INCOME $67,122 $63,281 $61,639

AVERAGE HOUSE VALUE $342,286 $344,176 $291,526


S E C T I O N 6

Advisor Bios

T 941.525.8283

C [email protected]

100 South Washington BlvdSarasota, FL 34236


Senior Commercial Real Estate Advisor

GAIL BOWDEN Professional BackgroundGail Bowden brings a unique blend of strategic creativity and expertise to the MichaelSaunders & Company team. Drawing on more than thirty years of experience, Bowdenis well known for her business ingenuity and ability to navigate the complexities ofventure capital, project finance, construction, and development. Her project list isextensive as well as her list of accomplishments as an expert and industry leader.Bowden was named one of Real Estate Forum’s 2016 Women of Influence. Prior tojoining the MS&C Commercial Division, she ranked #3 in SVN’s commercial realestate advisors worldwide, and #1 in Florida for 2015. Bowden also achieved one ofSVN’s most prestigious honors “Partners Circle” in 2015 and 2014, several of SVN’smost esteemed honors, including her fourth “Top Commercial Real Estate Advisor ofthe Year”, “Top Producer” and “Top Sale Transaction” awards.Ms. Bowden is well-known for closing complex and varied commercial investmentprojects, specializing in medical office, multifamily, and industrial properties from$500,000 to $60 million +. Gail’s propensity for guiding clients to appropriate financingcoupled with her skill for identifying the most suitable investors for each deal hascontributed to her career sales total of over $200 million.From contract to closing, Gail handles each client with exceptional care, ensuring thatevery element of a transaction is presented in a clear and logical manner. Skilled indigital marketing, Gail collaborates with her daughter and assistant, Allison, on effectiveadvertising strategies. Known for thorough research, stamina, and patience, Gail’s abilityto communicate clearly with all sides in any negotiation has established her as a trueprofessional in the field. A passion for travel has enhanced Gail’s ability to develop andcultivate long-standing relationships with real estate and development professionals allover the world.Originally from Utah where she attended the University of Utah, Gail graduated with aB.A. in Business Administration. Since moving to Sarasota over fourteen years ago, Gailhas become an active member of the community and has established herself as an expertin commercial real estate sales & investment. Gail is a volunteer and auxiliary memberof SPARCC (Safe Place & Rape Crisis Center) and also volunteers her time andexpertise to Habitat for Humanity. Gail’s daughter, son-in-law and two grandchildrenlive in Utah, where she visits whenever possible. Her friends and family lend joy andbalance to her life and work.



PRESENTED BY:

GAIL BOWDENSenior Commercial Real Estate Advisor

941.525.8283

[email protected]

venice medical office off i-75 and jacaranda...jacaranda 435 commercial court venice, fl 34292 n/a...

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