Great investment opportunity ,100% leased, rarely available prime A+ commercial property in the center of Anna Maria Island .The Property is zoned commercial C 3 with mixed use, the highest use zoning in the city also allowing residential over retail .Four short term apartments where approved by the city in 2017 but permission has now lapsed and must be reapplied for permits to allow construction. Currently the property is home to 10 commercial business with a good mix of business types.The property was originally constructed in the late 1950,s , expanded again in the 1970,s and 2008.
Most of the property has been remodeled and brought up to code with 99% of the electrical, plumbing , glazing and roofing all being updated over the current ownership.
An opportunity now exists to either partner with the current owner to develop the residential apartments or purchase the property outright , the property is being listed at LESS than a recent appraisal with a 6.5% cap and allowance of the apartment planning.
The Parking lot located at 5374 Gulf drive is also included with this sale and is grandfathered use of parking for the C3 zoning bringing the parking spots to 38 number spaces.Another adjacent property under the same ownership may be available if the buyer wanted more parking (17+ )or a mixed use property with Gulf views
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Listing data comes from My Florida Regional MLS DBA Stellar MLS.
Listing information last updated on May 30th, 2020 at 6:15pm EDT.