$3,250,000
$3,325,000
2.3%For more information regarding the value of a property, please contact us for a free consultation.
20,806 SqFt
SOLD DATE : 09/29/2023
Key Details
Sold Price $3,250,000
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Square Footage 20,806 sqft
Price per Sqft $156
Subdivision Acreage
MLS Listing ID A4551785
Sold Date 09/29/23
HOA Y/N No
Originating Board Stellar MLS
Year Built 1986
Annual Tax Amount $36,367
Lot Size 3.710 Acres
Acres 3.71
Property Description
Beautiful, single-tenant 20,806 +/- square foot office building on 3.7 +/- acres in a park-like setting
within Wildewood Professional Park. Wildewood is a premier 12-building office park that stays well
above 95% occupancy. National Credit, publicly-traded Tenant (NASDAQ) VERISK has been located
here for eight years. The current lease term goes until September 2025 with one five-year renewal
option. At the renewal the rents are adjusted to market rate providing huge upside as current rent is
25% below market in this very tight office market with less than 5% vacancy! So while this is a great
NNN investment currently, it is also value-add with the increasing rents either with the current
tenant or new future tenant.
Wildewood Office Park is very centrally located on the Cortez Road commercial corridor with easy
access to downtown Bradenton, downtown Sarasota, I-75, Lakewood Ranch and the beaches of
Anna Maria Island. This is a freestanding, NNN leased building sitting on it's own 3.7 +/- acre parcel
with cross access and cross parking easements with the other buildings within Wildewood. The
building has recently been painted, re-landscaped, and the parking lot has been replaced.
Location
State FL
County Manatee
Community Acreage
Zoning PDC
Direction W
Interior
Cooling Central Air
Exterior
Waterfront false
Building
Foundation Slab
Lot Size Range 2 to less than 5
Structure Type Brick
New Construction false
Others
Ownership Corporation
Special Listing Condition None
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Bought with SVN COMMERCIAL ADVISORY GROUP
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