St. Armands Circle

St. Armands Circle

St. Armands Circle
28 South Boulevard of Presidents
Sarasota, FL 34236

$3,542,134

Cap Rate 5.78%
Gross Leasable Area (GLA) 4,071 Sq.Ft.
Price Per Square Foot (GLA) $870
Year Built 1961
Lot Size 0.14 Acres
  • Trophy Location in St. Armands Circle
  • High Barrier to Entry Market
  • Stabilized Asset with 100 Percent Occupancy
  • Upside in Below Market Rents
  • Average Household Income Over $100,000 Within Three Mile Radius
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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: St. Armands Circle (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 this trophy asset in St. Armands Circle, an affluent tourist destination of Sarasota. The subject property is a 4,071-square foot, three tenant retail strip built in 1961. The property is currently 100 percent occupied by an attractive tenant mix and is ideally located in St. Armands Circle among many other high profile retail tenants.

This asset offers investors an opportunity to acquire a low management, stabilized asset that is free and clear of existing debt. St. Armands Circle is in a high barrier to entry market with historically high appreciation. With staggered leases and no lease turnover in the first three years of ownership, an investor can buy a cash flowing property while being able to capitalize on the upside in rent appreciation over the next ten years.

St. Armands Key is an island in Sarasota Bay off the west coast of Florida in the United States. The area maintains world class status, boasting more than 130 stores and restaurants. The circle contains many restaurants, tobacco shops, clothing stores and other retail outlets. The circle itself can presently support 74,100 square feet of additional retail and restaurant development generating over $30 million in new sales. As one of Florida’s most historic shopping districts, St. Armands Circle has attracted several national brands including Lily Pulitzer, Tommy Bahama, and White House/Black Market as well as many local and regional retailers and restaurants.

For More Information, Please Contact:

Jim Shiebler

Retail Investment Specialist
(239) 789-4821
Jim.Shiebler@marcusmillichap.com