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Bradenton Mixed Use Property – Multifamily and Retail | $900,000

1116, 14th Street West, Bradenton, Manatee County, Florida, 34205, United States | Updated on June 26, 2024 at 1:54 pm

Featured Recently Sold Opportunity Zone Owner Financing
1116, 14th Street West, Bradenton, Manatee County, Florida, 34205, United States
  • $900,000

Property Facts

  • Price: $900,000
  • Property Size: 5383 SqFt
  • Year Built: 1930
  • Property Type: Multifamily, Retail
  • Property Status: Recently Sold
  • Owner Financing: 5% Interest Only
  • Apartments: 6
  • Retail : 3

Details

Updated on June 26, 2024 at 1:54 pm
  • Price: $900,000
  • Property Size: 5383 SqFt
  • Year Built: 1930
  • Property Type: Multifamily, Retail
  • Property Status: Recently Sold
  • Owner Financing: 5% Interest Only
  • Apartments: 6
  • Retail : 3

Description

Property Description: 

1116 14th St W., 

Bradenton, FL 34205 

APN: 4391100059 

The Bradenton mixed-use property offers a dynamic investment opportunity in a prime location. With a strategic blend of three retail units and six multifamily units, this versatile asset promises both stability and potential growth. 

The retail component of the property currently houses an art gallery and a barbershop, the latter of which boasts a longstanding presence since the late 70s, operated by multiple generations. This historical continuity adds a unique and enduring character to the commercial aspect of the property. The third retail space, currently utilized as a non-conforming residential apartment, presents a flexible opportunity for conversion back to retail space, catering to diverse business needs. 

Landlord pays for water, sewer and trash and common area electric as well as the electric of one unit. 

Strategically positioned, the property is located in downtown Bradenton, offering accessibility to the vibrant heart of the city. Additionally, it is conveniently located 0.5 miles from LECOM Park, the renowned stadium for the Pittsburgh Pirates Spring Training, making it an attractive location for sports enthusiasts. The property is also close to Anna Maria Island (9.4 miles), Robinson Preserve (6.7 miles), and Sarasota Bradenton International Airport (8 miles), providing a well-rounded appeal for residents. 

BUSINESS PLAN 

The owner is offering extremely attractive owner financing on this property. The business plan for this property would be to take advantage of the owner financing, upgrade and combine two commercial units and increase the rents for that square footage. The property’s great location offers investors with a myriad of possibilities for this roughly 1400sqft space including a cafe, yoga studio or a public laundromat for the tenants and surrounding rental properties. The owner is offering for the following terms for owner financing 

Down Payment: 30% 

Interest Rate: 5% Interest Only 

Monthly Payment: $2,669 

Term: 2 years 

Proforma Cash on Cash: 10.28% 

Attachment

Address

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  • Address 1116 14th St W
  • City Bradenton
  • State/county Florida
  • Zip/Postal Code 34205
  • Area Downtown
  • Country United States

Contact Information

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Dustin West

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Overview

Property ID: HZ4391100059
  • Multifamily, Retail
  • Property Type
  • 5383
  • SqFt
  • 1930
  • Year Built

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This Offering Memorandum has been prepared by Verdad Commercial Real Estate Services LLC for informational purposes only. It is not intended to be all-inclusive or to contain all the information that a prospective investor may desire in investigating the property. The information contained herein has been obtained from sources deemed reliable; however, no warranty or representation, expressed or implied, is made as to the accuracy or completeness of the information. Prospective investors are encouraged to conduct their own independent investigations and analyses of the property, market conditions, financial projections, and other relevant factors, and to seek appropriate professional advice regarding legal, tax, and financial implications before making any investment decisions. Offers to purchase the property will only be made through written documentation and shall be submitted to Verdad Commercial Real Estate Services LLC directly. Verdad Commercial Real Estate Services retains the exclusive and irrevocable right and authority to sell the property contained herein. Verdad Commercial Real Estate Services reserves the right to amend or replace the information contained herein at any time without notice. This Offering Memorandum may not be reproduced or distributed, in whole or in part, without the prior written consent of Verdad Commercial Real Estate Services LLC. By accepting this Offering Memorandum, the recipient agrees to be bound by the foregoing limitations and any other confidentiality agreements supplied with this document. © 2024 Verdad Commercial Real Estate Services, LLC

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Dustin West
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