1,800 SqFt
1,800 SqFt
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $41
Subdivision Sarabay Acres
MLS Listing ID A4616757
HOA Y/N No
Originating Board Stellar MLS
Year Built 1974
Annual Tax Amount $10,420
Lot Size 0.500 Acres
Acres 0.5
Property Description
Included with the Sale:
Entire inventory valued over $97,000, including consignment items - Rental chairs, umbrellas, beach wheelchair, rental sifters, and rental surfboard.
All fixtures, displays, and contact information of suppliers and local consignment artists.
Mural on the side wall to draw attention
Training and procedures overview if desired
Two year renewable double net lease signed in September of 2023
Twenty 5 star reviews on google
Monthly Expenses:
Rent: WAS $2,750 NOW $1,800
Electricity: $201
Insurance: $60
Employee: (15 hours per week) Cost: 60 hours/month × $15/hour = $900
Total Monthly Expenses: $3,911
Annual Expenses: $46,932
This Year’s Profit with Employee Working 15 Hours Per Week
Annual Operating Expenses (with Employee): $46,932
Net Operating Income (NOI): $102,490 (Gross operating income) - $46,932 (expenses) = $55,558
Capitalization Rate
$55,558 (NOI) ÷ $80,000 (Property Value) × 100 = 69.44%.
Last year’s profit with NO EMPLOYEES:
Last year’s Gross Operating Income (GOI): $102,490 (total sales/revenue)
Net Operating Income (NOI): $66,358.46 (after deducting annual operating expenses of $36,132)
Sales from (Purchase date til the end of the year) 10/1/2023 - 12/31/2023 = $15,344.31
Sales from 1/1/2024 - 8/13/2024 = $43,964.70
Location
State FL
County Sarasota
Community Sarabay Acres
Zoning CG
Interior
Cooling Central Air
Exterior
Garage Parking Spaces - 6 to 12, Lighted
Utilities Available Electricity Available, Public, Water Connected
Waterfront false
Building
Story 1
Water Public
Structure Type Concrete
New Construction false
Others
Ownership Corporation
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
Find out why customers are choosing LPT Realty to meet their real estate needs
ptcomo@patcomofloridarealestate.com
1400 S International Pkwy, Lake Mary, FL, 32746, USA