Manatee County Acquires Office Building In Bradenton From Sarasota LLC For $4.4M
616 67th Street Circle East
$4,400,000
$258/SF
Building Size
17,000 SF
Asset Type
Office
Closing
Jul 17, 2024
About this deal
AI
Manatee County purchased an office property located at 616 67th Street in Bradenton for $4.4 million. The asset spans 17,000 square feet and has been occupied by the Sheriff's Office District 3 since 2015, highlighting its longstanding use in public service.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $4,400,000
- Square Footage: 17,000
- Price Per Square Foot: $259
- Buyer: Manatee County
- Seller: Sarasota LLC
- Broker: Tony Veldkamp - SVN Commercial Advisory Group
- Market: Bradenton
- Sale Date: 07/17/2024
This transaction was facilitated by SVN Commercial Advisory Group, with approval from county commissioners secured on May 14. The deal did not require a market listing prior to the sale.
Players
Bradenton Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93