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Gelfand Realty Miami Properties - Commercial

201-205 MONTGOMERY, SARASOTA, FL 34243

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Commercial -

201-205 MONTGOMERY, SARASOTA, FL 34243

Sold Price$2,040,000 Asking Price$2,395,000

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  • Days on market:

    178 day(s)
  • Original Price:

    $2,395,000
  • Price per sqft:

    $195.43
  • Tax Legal Description:

    A PORTION OF LOT 13, & ALL OF LOTS 14 & 15 BLK 46, WHITFIELD ESTATES, REC IN PB 6 PG 33, BEING MORE PART DESC AS FOL: BEGIN AT THE SW COR OF SD LOT 15, BLK 46, BEING A PT ON THE NLY R/W LINE OF MONTGOMERY AVE; TH N 67 DEG 03 MIN 10 SEC E, ALONG SD NL Y R/W LINE A DIST OF 135.48 FT TO THE SELY COR OF SD LOT 15, BEING ALSO THE PT OF INTERSECTION OF SD NLY R/W LINE
  • Tax Year:

    2017
  • Property Type:

    Commercial
  • Parking:

    Reserved
  • Lease Term Remaining:

    3 to 5 Years
  • Construction Type:

    Block
  • Roof:

    Shingle Steel/Bar/Joist Wood Frame
  • Cooling Description:

    Zoned
  • Heating Description:

    Zoned
  • Special Listing Conditions:

    None
  • Lot Features:

    Corner Lot Oversized Lot FloodZone

Description

$2,395,000 • living size area 12255 sqft

Looking for incredible cash flow with a land bank opportunity? 201 & 205 montgomery ave offer over a true 10% net return per the leases in place. the main tenant is a national medical billing firm that has already exercised 2 five year options and has 2 five year options remaining after the current term expires. centrally located just 7 minutes from downtown sarasota on highly trafficked us 41 (45,000+ cars per day) and close to bradenton, this office complex is convenient to employees living in the two county area. the 5 buildings have all been updated over the years with newer roofs and well maintained. as a land bank, development continues to move north from downtown sarasota and around the srq international airport (just 1 mile away). the buildings are well situated to be converted to a full medical complex for future uses down the road. to build a complex of this size today, on over 1 acre of us41 frontage, with 5 separate buildings, the estimated cost would be well over $4m. don’t miss out! earn 10% now and equity for the future!

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