facebook
Traded Co logo
Submit
Daily limit: 0/10

Private Investor Acquires Downtown Sarasota Building For $5.75M

Property Image
SOLD
$5,750,000

Florida

See Similar Deals
Land3,723 SF
Sold 03/20/2024
the dealplayerscompscontact
Property Image
SOLD

Private Investor Acquires Downtown Sarasota Building For $5.75M

1836 Fruitville Road

See Similar Deals
Land3,723 SF
Sold 03/20/2024
the dealplayerscompscontact
Contact now

Summary

FLORIDA
Asset Type:Land
Price Per Square Foot:$1,544
Total Square Footage:3,723 SF
Transaction Type:Sale

The property at 1836 & 1850 Fruitville Road in Sarasota, spanning 1.3 acres, was sold for $5,750,000. The building, with a total square footage of 3,723, was a key part of the downtown Sarasota revitalization, set for consolidation by Chase.

Summary of transaction details:

  • Property Type: Land
  • Transaction Amount: $5,750,000
  • Address: 1836 & 1850 Fruitville Road
  • Market: Sarasota
  • Asset Type: Land
  • ACRES: 1.3
  • Seller: Austin Simmons - Brightwork Real Estate
  • Broker: Benedict Gutierrez - Berlin Group

The buyer of the property, a private investor whose identity remains undisclosed, made this acquisition as part of the ongoing enhancement of downtown Sarasota, aligning with the Aster & Links development.

Players

Benedict Gutierrez
Berlin Group
Benedict Gutierrez
7 deals$46.4M volume
BROKER

Details

SOLD
IMAGE: 03/20/2024 ADDRESS: 1836 & 1850 Fruitville Road MARKET: Sarasota ASSET TYPE: Land ~ ACRES: 1.3 SELLER: Austin Simmons - Brightwork Real Estate BROKER: Benedict Gutierrez - Berlin Group SALE PRICE: $5,750,000 SF: 3,723 ~ PPSF: $1,544 NOTE: A downtown Sarasota building, slated for Chase's consolidation of two local bank branches, sold for $5.75 million. The buyer, a private investor, remains undisclosed, as the property contributes to the revitalization of downtown Sarasota alongside the Aster & Links development.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20