2425 17th St - Freestanding FOR SALE


Sarasota, FL 34234
$2,319,000 USD
415-690-5522
2425 17th St, Sarasota, FL for Sale
$2,319,000 USD
Freestanding - FOR SALE
1/5
null | 5.75% Cap Rate

2425 17th St
Sarasota, FL 34234


HIGHLIGHTS

  • 10-year net lease to strong and growing corporate tenant
  • Scheduled 8% rental increases in option periods
  • Sherwin-Williams (NYSE: “SHW”) is rated “BBB” by Standard & Poor’s
  • 1.5 miles from Downtown Sarasota, a major metropolitan Florida hub experiencing rapid development
  • 1.7 miles from 1 Main Plaza, where Belpointe is constructing 418 luxury apartments, 55,000 square feet of commercial space, and 1,200 parking spaces a
  • Sherwin-Williams is ranked #175 on the Fortune 500 list

OVERVIEW

The property is surrounded by many densely populated residential developments and benefits greatly from being positioned within walking distance of downtown Sarasota, improving the overall visibility and access to a strong customer base Additional nearby developments include One Park (18-story, 149-unit tower), The Cordelia (12-story, 240-unit tower), and The Gallery (5-story, 62-condominium tower) Sherwin-Williams has excellent proximity to community hubs which provide the property with a consistent customer base, such as Sarasota Memorial Hospital (9,785 employees), Sarasota High School (2,117 students), Sarasota Military Academy (1,469 students), and Booker High School (1,296 students) Sarasota is a tourist destination, with over three million visitors coming to Sarasota County annually to visit the countless attractions such as Mote Marine Laboratory, The Ringling Museum of Art, Sarasota Bay, and Lido Key The Sarasota MSA has a population of over 891,000 in 2023, and Florida is one of the fastest-growing states in the U.S.

FOR SALE DETAILS

PRICE

$2,319,000 USD

PRICE/SF

$232 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sherwin-Williams

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Service Station, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,867 SF

ZONING

C1

APN/PARCEL ID

0043-15-0001

ASK ABOUT THIS PROPERTY

Vincent AicaleCushman & WakefieldMore Info
415-690-5522

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Vincent AicaleCushman & WakefieldMore Info
415-690-5522

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.