This Investment offer a true value add with a stream of income in place.
With a 3 Year Lease term in place for the main building and an active Assisted/Independent Living Facility as the tenant, the ability to improve the existing cottage (approx 1,100 SF) and create an additional flow of rental income (approx market rent of $1,500/mo) exists.
There is also a vacant lot at the Northern front end of the property and future expansion or new construction are possibilities with county approval.
Tenant is responsible for all Utilities, Real Estate Taxes. Landscaping, Interior Improvements and Repairs and Insurance. Ownership/Landlord is responsible for roofing, structural, etc. In essence a NN (Double Net Lease)
Property Opportunity & Highlights
This is a fantastic and rare opportunity to acquire a multi-faceted investment including an Assisted Living Facility on a 3 year lease.
The ownership put in a brand new 22KW Generator with 200 AMPs in 2019. This $40k+ improvement comes with a 5 year warranty.
Plenty of area for serene outdoor settings are on this .44 acre site as well. Featuring a large, shaded backyard garden area with majestic Oaks providing the canopy, and storage sheds, as well as additional land and a 2nd building on the south side of the property. Providing plenty of room for future expansion. And easy conversion to additional rooms or staff housing.
Call Dreznin Pappas Commercial Real Estate @ 941-961-8199 today to schedule a tour of this amazing property before it's SOLD!
Location Summary
Bayshore Gardens is a census-designated place (CDP) and planned community in Manatee County, Florida, United States. The population was 16,323 at the 2010 census. It is part of the Bradenton–Sarasota–Venice Metropolitan Statistical Area.
In 1955, a New York syndicate led by developer Sydney R. Newman purchased the area now known as Bayshore Gardens on the west side of U.S. 41 along the eastern shore of Sarasota Bay, just north of the Sarasota/Manatee county line, and platted an area between what was dubbed Bayshore Gardens Parkway running from U.S. 41 to 26th Street West and Sarasota Bay that would become Bayshore Gardens.
The property was purchased for about 2 million dollars, making it the most expensive land purchase in the area since the 1920s. This 3,200-acre area, once fields for growing tomatoes, would include recreation areas and a marina, schools, churches, shopping centers and medical facilities as well as homes.
Bradenton’s economy is primarily driven by tourism due to its close proximity to gulf coast beaches, the Tampa Bay Area and other agricultural preserves
The Bradenton tourism industry employs nearly 26,100 residents, creates $1.3 billion in economic impact and contributes $54.4 million in sales tax
• TOP AREA EMPLOYERS COMPANY EMPLOYEES
Manatee County School District 6,800
Beall’s Inc. 4,200
Manatee County Government 2,981
Manatee Memorial Hospital 1,445
Goodwill Industries Manasota Inc. 1,179
Tropicana Products 1,00