Magnolia Green 8

Magnolia Green 8

Magnolia Green 8
6975 Professional Parkway E
Sarasota, FL 34240

$4,204,750

Cap Rate 8.49%
Gross Leasable Area (GLA) 30,000 Sq.Ft.
Price Per Square Foot (GLA) $140
Year Built 2006
Lot Size 3.51 Acres
  • Ideally Located in the Heart of Lakewood Ranch, an Affluent High Income District of Sarasota
  • 88% Occupied to a Strong Mix of Tenants Offering Stabilized Income With Upside
  • Offered at $4,204,750 an 8.49% Cap Rate on Current Income
  • New Construction – Built in 2006
  • Less than one mile from Interstate 75
  • Surrounded by amenities including the Lakewood Ranch Main Street corridor with fine shops and dining
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Confidentiality and Buyer Registration Agreement

Marcus & Millichap Real Estate Investment Brokerage Company (“Broker”) has been asked to serve in the capacity of exclusive agent for the (“Seller”) regarding the potential sale of the properties known as: Magnolia Green 8 (the "Property").

To receive financials and other vital data please read, sign and return this completed Confidentiality Agreement to Broker. The property information has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information that prospective Buyers may need or desire. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property.

By accepting the financial reports and market data, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney’s fees, collectively “Claims”) arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney’s fees and court costs which James Medefind or Marcus & Millichap REIS may be incurred with respect to any claims for other real estate commissions, broker’s fees or finder’s fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

The Financial Reports and market data, except such information that is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the property information, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the information or any of the contents to any other entity (except to outside advisors retained by you, if necessary for you determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the information or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

No employee of Seller or at the subject property is to be contacted without the written approval of the agent and doing so would be a violation of this confidentiality agreement.

Marcus & Millichap is pleased to offer for sale the Magnolia Green 8 building in the heart of Lakewood Ranch (Sarasota), FL.

The Magnolia Green 8 building was constructed in 2006 and is currently 88% occupied to a strong mix of local and national tenants. It consists of 30,010 square feet and offers tenants the convenience of a first floor, direct entry building with parking directly in front of their individual office space.  Current income produces a cap rate of 8.49% at list price offering a high return for a property of this caliber and construction.

The property is ideally located less than one mile from Interstate 75 in the affluent high income district of Sarasota. The property is surrounded by a population of 86,337 people within 5 miles and hosts gourmet and family-friendly restaurants, A-Rated schools, unique shops and boutiques, business parks, sate of the art medical centers, three different masterfully designed golf courses, fitness centers, aquatics, 18 lighted tennis courts and even Polo and Cricket clubs.

This asset provides investors with a stable, income producing property with upside through increased occupancy as well as a generous return on existing income. It offers little to no deferred maintenance considering it was built in 2006 and offers a potential five year cash on cash return of over 17%.

For More Information, Please Contact:

James Medefind

First Vice President Investments
(813) 387-4788
James.Medefind@MarcusMillichap.com