2214 N Washington Blvd, Sarasota, FL 34237 - industrial property

Detailed information about industrial property which situated in Sarasota (34237) city, Florida state on 2214 N Washington Blvd.

Additional Information: Entry level price for investor looking to obtain a performing asset with a AAA rated tenant listed on the NYSE. 11,000+/- SF building completely renovated in November, 2011. Remodel costs were in excess of $100,000. This deal will not last. Fresh 5 year lease with two five year options. Tenant is NYSE listed company Lumber Liquidators (LL). Lumber Liquidators has more than 260 locations in North America and a market value of $644-million. Lease was signed in December of 2011. Gross income is $55,000 annually, rent is flat gross for first term (years 1-5) . Cap rate approx 5.7+/-%. Rent bump is 11+% from years 6-10. DO NOT DISTURB TENANTS. 11,000SF, 2 bathrooms, showroom. Three grade level loading doors. Located on an extremely busy road. New next door neighbors: Family Dollar and Autozone (currently under construction). New owner can be confident property will throw off passive income for years.