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$ 75,000
Est. payment /mo
Price Dropped by $5K
11 S TAMIAMI TRL Osprey, FL 34229
1,800 SqFt
UPDATED:
11/22/2024 01:41 AM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $41
Subdivision Sarabay Acres
MLS Listing ID A4616757
HOA Y/N No
Originating Board Stellar MLS
Year Built 1974
Annual Tax Amount $10,420
Lot Size 0.500 Acres
Acres 0.5
Property Description
Major $65,000 Price Drop!!! Capitalization Rate of 70%+. This is your last opportunity to purchase the business before the business closes permanently. Welcome to Endless Summer Beach and Surf Shop, located at 11 South Tamiami Trail! This business opportunity is perfectly positioned on a high-traffic corridor (35,975 daily traffic count) providing excellent visibility and accessibility. The shop exudes a laid-back, beachy vibe, capturing the essence of Florida's coastal lifestyle. Situated on Tamiami Trail, this property benefits from both local and tourist traffic, ensuring a steady stream of potential customers. The shop features a generous retail space, perfect for displaying an extensive selection of surfboards, beachwear, accessories, and more. Recently renovated, the interior boasts a modern design with bright, welcoming decor that enhances the shopping experience. Enjoy additional outdoor space where they added a mural wall. Ideal for promotions, special events, or expanding your display area. Convenient parking for customers ensures a hassle-free visit. Endless Summer Beach and Surf Shop is a well-known name in the community, attracting loyal customers and new visitors alike. With the popularity of beach culture and water sports, there is ample opportunity to expand product offerings and increase revenue. They just started offering jet ski rentals. You can purchase the jet skis on a separate bill of sale. Don't miss this chance to own a piece of Florida's vibrant beach lifestyle whether you're an entrepreneur looking to invest in a profitable business or a beach enthusiast!
Included with the Sale:
Entire inventory valued over $97,000, including consignment items - Rental chairs, umbrellas, beach wheelchair, rental sifters, and rental surfboard.
All fixtures, displays, and contact information of suppliers and local consignment artists.
Mural on the side wall to draw attention
Training and procedures overview if desired
Two year renewable double net lease signed in September of 2023
Twenty 5 star reviews on google
Monthly Expenses:
Rent: WAS $2,750 NOW $1,800
Electricity: $201
Insurance: $60
Employee: (15 hours per week) Cost: 60 hours/month × $15/hour = $900
Total Monthly Expenses: $3,911
Annual Expenses: $46,932
This Year’s Profit with Employee Working 15 Hours Per Week
Annual Operating Expenses (with Employee): $46,932
Net Operating Income (NOI): $102,490 (Gross operating income) - $46,932 (expenses) = $55,558
Capitalization Rate
$55,558 (NOI) ÷ $80,000 (Property Value) × 100 = 69.44%.
Last year’s profit with NO EMPLOYEES:
Last year’s Gross Operating Income (GOI): $102,490 (total sales/revenue)
Net Operating Income (NOI): $66,358.46 (after deducting annual operating expenses of $36,132)
Sales from (Purchase date til the end of the year) 10/1/2023 - 12/31/2023 = $15,344.31
Sales from 1/1/2024 - 8/13/2024 = $43,964.70
Included with the Sale:
Entire inventory valued over $97,000, including consignment items - Rental chairs, umbrellas, beach wheelchair, rental sifters, and rental surfboard.
All fixtures, displays, and contact information of suppliers and local consignment artists.
Mural on the side wall to draw attention
Training and procedures overview if desired
Two year renewable double net lease signed in September of 2023
Twenty 5 star reviews on google
Monthly Expenses:
Rent: WAS $2,750 NOW $1,800
Electricity: $201
Insurance: $60
Employee: (15 hours per week) Cost: 60 hours/month × $15/hour = $900
Total Monthly Expenses: $3,911
Annual Expenses: $46,932
This Year’s Profit with Employee Working 15 Hours Per Week
Annual Operating Expenses (with Employee): $46,932
Net Operating Income (NOI): $102,490 (Gross operating income) - $46,932 (expenses) = $55,558
Capitalization Rate
$55,558 (NOI) ÷ $80,000 (Property Value) × 100 = 69.44%.
Last year’s profit with NO EMPLOYEES:
Last year’s Gross Operating Income (GOI): $102,490 (total sales/revenue)
Net Operating Income (NOI): $66,358.46 (after deducting annual operating expenses of $36,132)
Sales from (Purchase date til the end of the year) 10/1/2023 - 12/31/2023 = $15,344.31
Sales from 1/1/2024 - 8/13/2024 = $43,964.70
Location
State FL
County Sarasota
Community Sarabay Acres
Zoning CG
Interior
Cooling Central Air
Exterior
Parking Features Parking Spaces - 6 to 12, Lighted
Utilities Available Electricity Available, Public, Water Connected
Building
Story 1
Water Public
Structure Type Concrete
New Construction false
Others
Ownership Corporation
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
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Listed by BERKSHIRE HATHAWAY HOMESERVICE