212 Base Avenue East is an industrial property for lease in Venice, FL.
Options, options, options!
This sale is for two sites - Property ID's of 200 AND 212 Base Ave E, both for $675k in total.
200 Base Ave E is a 12,000SF building of average quality with some small office space. Roll up doors to front side and rear and CI zoning make for a variety of uses.
High ceilings (14ft eaves height) also allows for stacked racking.
200 partially occupied generating $667 monthly, tenancies month to month basis. Potential additional rent +/- $1000pm.
212 has 7 rollup door units (6 to front and 1 to rear) of which 6 are occupied generating +/- $4000 monthly, tenancies mainly month to month with longest until January 2016. Potential additional rent +/- $700pm.
Above indicates cap rate of around 4% on existing use basis and around 7% including upside rental potential.
Initial enquiries indicate future potential of RMF-4 entitlement for site, suggesting 22 unit concentration.
Owner occupiers, investors and developers all welcome!
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