Office•Medical•For Sale

MOB Office Opportunity - Venice

435 Commercial Court, Venice, Florida 34292

Sale Price $3,500,000
Sale Type Investment
Zoning CHI - Commercial Highway Interchange
Bldg Type Multi-Tenant
Class A
Status Existing
Year Built 2007
Year Renovated 2014
Stories 3
Cap Rate 6.52%
Vacancy 65%
Annual Taxes $24.00
Gross Bldg 18,078 SqFt
RBA 15,104 SqFt
Land Area 1.27 Acres
Avail Parking 5/1000SqFt
Net Op Inc $228,058
Market Venice
Sub-Market SW Florida
Legal Descr BEG AT A POINT 639.66 FT N & 421.41 FT W OF SE COR OF SEC 3-39-19 TH 5-87-28-45-W 349.47 FT TH N-38-30-10-W 113 FT TH N-51-29-50-E 295.31 FT TH S-38-30-10-E 252.38 FT TH SLY ALG CURVE TO RIGHT
Excellent Investment Opportunity with stable below market NNN cash flow opportunity. Freestanding Class "A" Medical property leased by Sarasota Memorial Hospital (SMH), Sarasota Orthopedic Associates (SOA), and Advanced Neurological Diagnostics. Extremely well-constructed concrete structure with high impact windows and a canopy-covered drop-off and pick up entry. Proximity to I-75 is perfect for practices with a regional client base. Easy access to new hospitals under construction. Two (2) hospital projects underway - Sarasota Memorial Hospital at Southwest corner of Laurel Road and Interstate 75 and Venice Regional Bayfront Health - Jacaranda Boulevard and East Venice Avenue along with several hundred residential rooftops. https://www.veniceregional.com/replacement-hospital https://www.smh.com/Home/News-Events/Venice-Hospital-Updates/Venice-Update/coming-soon-sarasota-memorial-hospital-venice Class "A" quality building located off I-75 and Jacaranda Blvd. Perfect for medical use with the property situated between the recently approved new locations for Sarasota Memorial and Venice Regional Hospitals. Top floor is 4,993 sf unit has 12 expansive offices complete with spacious conference room, ADA compliant restrooms, and full-sized kitchen/break room leading to a large outside terrace. Additional 1,312 sf available has a built in reception area and perfect for smaller medical practice. Remaining space is occupied by Sarasota Orthopedics Associates which guarantees consistent daily traffic to the property. Tenant improvement allowance provided, subject to negotiation. I-75 exposure on the Jacaranda Interchange. Immediate area consists of 3 quality brand hotels, Wawa Gas Station, McDonald's, Cracker Barrel, various other restaurants and offices next door.
  • 100% occupied, MEDICAL
  • Sarasota Memorial Hospital occupies 3rd floor
  • Sarasota Orthopedic Associates (SOA) occupies 1st floor and part of the 2nd floor
  • I-75 Visibility and Quick access
  • Two (2) Hospitals in development - Sarasota Memorial & Venice Regional (HMA), within minutes
  • 35K +/- Homes planned within 5-miles
  • Medical use established building
  • Technically advanced building
  • Covered drop off area
  • Solid concrete structure
  • Close to retail & restaurants
  • I-75 Access off Jacaranda Blvd.
2/10/2019 6:44:25 PM 2/22/2019 6:21:51 PM
Gail Bowden
Senior Commercial Real Estate Advisor
Michael Saunders & Company

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