DeSoto Professional Building is located just off of the main intersection of US 41 and Highway 301 Boulevard in Bradenton Fl. At 10,860 FT this office building consists of eight rental office suites ranging from 1,200 ft up to 1680 square feet all of the offices are leased to happy tenants who are paying below market rents. Half of the tenants are currently on month-to-month leases, presenting an opportunity to transition to Triple Net Leases. By restructuring the leases, this will shift the expenses of property taxes, property insurance, and maintenance costs to the tenants in the coming years. The remaining tenants are set to renew their leases within 2024.
The Pro-forma numbers are based on converting leases to a triple net structure.