7129 Tamiami Trl, Sarasota, FL 34231
4,646 SF | Retail Building | Sarasota, FL 34231 | $2,495,000 ($537/SF) | 8% Cap Rate
For Sale
Active
Asking Price $2,495,000
- Property Type
-
Retail, Restaurant
- Square Feet
- 4,646 SF
- Price / Square Foot
- $537
Listing Contacts
Daniel Jittu
Property Overview
7129 S Tamiami Trail presents an exceptional sale-leaseback opportunity in the bustling city of Sarasota. Home to Napulè, a celebrated Italian restaurant that has earned acclaim over the past seven years, this property is a local favorite. Napulè boasts a traditional and delectable menu, including wood-fired pizza al metro, house-made pasta, savory sauces, freshly baked bread, and tempting desserts. The restaurant also features a full bar with signature cocktails and an extensive wine cellar, enhancing its appeal to patrons.
Constructed in 1982 and housing Napulè since 2015, the property spans 4,646 square feet of well-maintained finished area, complemented by robust load-bearing walls and efficient heating and air-conditioning systems. The current owner seeks a triple net (NNN) lease-back agreement with a 3% annual increase, an initial term of 10 years, and two five-year extension options.
Situated in a high-growth area, Napulè benefits from a thriving market with an average household income of $105,511 and a total consumer spending of $1.9 billion within a 5-mile radius. The population is projected to grow by 15.6% through 2028, underscoring the area's vibrant economic prospects. Sarasota, the tenth-fastest growing city in the US, has experienced sustained demand across commercial real estate sectors, driving vacancy rates to some of the lowest in Florida. Just south of Tampa Bay, Sarasota's commercial properties have thrived on substantial population and job growth, with tourism further strengthening the retail market. 7129 S Tamiami Trail conveys a savvy investment opportunity for discerning investors looking to capitalize on Sarasota's robust market dynamics.
Constructed in 1982 and housing Napulè since 2015, the property spans 4,646 square feet of well-maintained finished area, complemented by robust load-bearing walls and efficient heating and air-conditioning systems. The current owner seeks a triple net (NNN) lease-back agreement with a 3% annual increase, an initial term of 10 years, and two five-year extension options.
Situated in a high-growth area, Napulè benefits from a thriving market with an average household income of $105,511 and a total consumer spending of $1.9 billion within a 5-mile radius. The population is projected to grow by 15.6% through 2028, underscoring the area's vibrant economic prospects. Sarasota, the tenth-fastest growing city in the US, has experienced sustained demand across commercial real estate sectors, driving vacancy rates to some of the lowest in Florida. Just south of Tampa Bay, Sarasota's commercial properties have thrived on substantial population and job growth, with tourism further strengthening the retail market. 7129 S Tamiami Trail conveys a savvy investment opportunity for discerning investors looking to capitalize on Sarasota's robust market dynamics.
Property Details
- Class
- B
- Year Built/Renovated
- 1982/2017
- Stories
- 1
- Lot Size (sq. ft)
- 18,295 SF
Highlights
- 7129 S Tamiami Trail in Sarasota is home to local favorite Napulè, a seven-year award-winning restaurant serving traditional Italian cuisine.
- With an initial cap rate of 8%, current ownership is seeking a triple net (NNN) sale leaseback with 3% annual increases and extension options.
- Sarasota, the 10th fastest-growing city in the US, benefits from consistently low vacancy rates and stable incomes, reinforced by bustling tourism.
- In a high-growth area, discerning investors anticipate robust demographics with an average household income of $105,511 in a 5-mile radius.
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