FOUR POINTS SHERATON - LoopNet · 2019-01-23 · Siesta Key and Lido Beaches. PROJECT OVERVIEW 1...

FOUR POINTS SHERATONDEVELOPMENT OPPORTUNITY

1425 S Tamiami Trail, Sarasota, FL 34239AVAILABLE FOR SALE

Opportunity to purchase operational 99 room Baymont by Wyndham hotel with plans in place to develop into a Sheraton flag hotel. With 520 SF of event space, the hotel features a meeting room, which can be arranged to accommodate 15 conference or banquet guests.

Located close to Downtown Sarasota, there are many fine dining options in the area. Local shops and a cozy Starbucks are steps away. This site is across the street from Sarasota Memorial Hospital, with easy access to highways and a quick 15 minute drive to the Sarasota-Bradenton International Airport (SRQ) and beautiful Siesta Key and Lido Beaches.

PROJECT OVERVIEW

1 South School Avenue Suite 600 | Sarasota, FL 34237 | ian-black.com 2

Please Contact:

JAG GREWAL, CCIM AMY LYON MACDOUGALL941.906.8688 x105 941.906.8688 [email protected] [email protected]

Sarasota Hotel Development Opportunity1425 S Tamiami Trail, Sarasota, FL 34239

Hospitality Offering For Sale PDF with Header/Footer

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PROPERTY SUMMARY

• 99 Hotel Rooms with plans in place to renovate the existing building to a 99 room Four Points by Sheraton • Built in the 60's with additions and improvements in the 70's; effective age is recorded as mid 1990's• Buildings are 1, 2 & 3 Stories with 2 Elevators• Stucco Exterior - mature tropical landscaping• Lobby Entrance with Guest Dining Area, Business Center, Fitness Center & more• Expansive Heated Outdoor Pool & Patio Area• Meeting & Event Rooms Available - will accommodate 15 conference or event guests• Ample Parking for guests and motor coaches, with access from US 41 and East Avenue• Prominent lighted Pylon signage on US 41 (S. Tamiami Trail)• Approval in place

Sale Price: $9,950,000

Lot Size: 2.26 Acres

Total Building Size: 47,099 SF

Parcel ID: 2035050042

Zoning: RMF4

Market: Bradenton-Sarasota-Venice

Governing Municipality: City of Sarasota

Sub Market: Midtown Sarasota

Cross Streets: Prospect St., Floyd St.

Directly across the street from

Sarasota Memorial Hospital Campus


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• 99 Hotel Rooms with plans in place to renovate the existing building to a 99 room Four Points by Sheraton • Built in the 60's with additions and improvements in the 70's; effective age is recorded as mid 1990's• Buildings are 1, 2 & 3 Stories with 2 Elevators• Stucco Exterior - mature tropical landscaping• Lobby Entrance with Guest Dining Area, Business Center, Fitness Center & more• Expansive Heated Outdoor Pool & Patio Area• Meeting & Event Rooms Available - will accommodate 15 conference or event guests• Ample Parking for guests and motor coaches, with access from US 41 and East Avenue• Prominent lighted Pylon signage on US 41 (S. Tamiami Trail)• Approval in place

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DESCRIPTIONS

The subject property is located on the east side of S. Tamiami Trail in the Midtown Area near Sarasota Memorial Hospital's main campus, minutes south of Downtown Sarasota, FL.

The site sits just east of US 41 across from Midtown Plaza retail center, with paved access from Prospect & Floyd Streets, as well as East Avenue and S. Tamiami Trail.

Office, and both wings of the hotel were built with masonry or poured concrete load bearing walls with stucco exteriors, Mansard-style tile roofs. The 768 SF Commercial Outbuilding was constructed similarly with a low pitched shed-style shingled roof.

LOCATION

SITE

CONSTRUCTION


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MAP OUTLINE

1425 S Tamiami TrailSarsota, FL 34239

Sarasota Memorial Hospital

SURROUNDINGS• Sarasota Memorial Hospital

• Starbucks

• Panera Bread

• Walgreens

• Libby’s Neighborhood Brasserie

• Chipotle Mexican Grill

• Perq Coffee Bar

• Sarasota Museum of Art

• Sahara Mediteranean and Cafe

• FedEx Office Print & Ship Center

• Tijuana Flats


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SAMPLE EXCERPT 1st floor


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ElevationsSAMPLE EXCERPT


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SARASOTA COUNTY

FAST FACTS 2018

THIS BROCHURE provides a snapshot of Sarasota County’s vital statistics. It contains important information on population, workforce, schools, and other aspects of our vibrant community.

AREA : 573 SQUARE MILESCOASTLINE : 35 MILES

AVERAGE ANNUAL TEMPERATURE: 72ºAVERAGE ANNUAL RAINFALL : 54”

POPULATION JURISDICTIONSTOTAL: 412,569

Unincorporated (261,893)

North Port (64,275)

Sarasota (56,610)

Venice (22,465)

Longboat Key (7,326)

Source: US Census Population Estimates

POPULATION PROJECTIONS

500,000

400,000

300,000

200,000

100,000

0 1990 2000 2010 2017 2020 2030 2040Source: FL Demographic Estimating Conference, Feb. 2017, & UF, BEBR

492,174

463,374

420.763

406,066

379,448

325,961

277,776

1680 Fruitville Road, Suite 402Sarasota, FL 34236(t) 941.309.1200 • (f ) 941.309.1209 edcsarasotacounty.com

AVERAGE SAT SCORES

READING / WRITING MATH

DISTRICT 572 558

STATE 518 494

NATIONAL 538 533

Source: Sarasota County Schools

SARASOTA COUNTY

WORKFORCE

PASCO

SARASOTA

POLK

MANATEE

CHARLOTTE

DESOTO

HILLSBOROUGH

HARDEE

PINELLAS

DESOTO

HARDEE

REGIONAL WORKFORCE1,677,613

MSA WORKFORCE365,381

COUNTY WORKFORCE 189,760

SARASOTA

MANATEE

✪ Siesta Key Beach ranked #1 in the U.S. Source: TripAdvisor

✪ North Port-Sarasota-Bradenton region ranked as the country’s 10th Fastest-Growing Metropolitan Area Source: US Census Bureau

✪ Sarasota ranked #1 as Best Place to Live in the State of FL Source: US News & World Report

✪ The Sarasota Metro area has the 9th Highest Growth Rate for the Millennial Population (11.1%; from 2010-2015) Source: Brookings Institute Study; The Millennial Generation: A demographic bridge to America’s diverse future

✪ Sarasota Region ranked Sixth Best Performing City in the U.S. Source: Milken Institute

✪ Pine View School ranked #1 in State of Florida, #13 Nationally Source: US News & World Report

✪ Sarasota County Schools receive “A+” Rating for 14th Consecutive Year Source: Florida Department of Education

✪ Sarasota-Bradenton ranked #1 on list of Best Cities to Launch a Small Business in the US. Source: Bizjournals.com

ACCOLADES

Source: Local Area Unemployment Statistics (LAUS)

SINGLE FAMILY$285,000

CONDO$240,000

RENT$1,249

HOUSING

Source: Sarasota Board of Realtors

COST OF LIVING100 = U.S. AVERAGE

NEW YORK, NY (242.9)

WASHINGTON, DC (157.4)

ORANGE COUNTY, CA (152.4)

BOSTON, MA (145.7)

SAN DIEG0, CA (144.1)

NEWARK, NJ (121.4)

FT LAUDERDALE, FL (119.8)

BALTIMORE, MD (116.7)

PHILADELPHIA, PA (116.4)

WILMINGTON, DE (109.2)

SARASOTA, FL (107.2)

Source: www.coli.org

PER CAPITA INCOME

2011 2016 2011 2016

Source: US Department of Commerce

SARASOTA FLORIDA

5 YEAR GROWTH RATE:Sarasota20.19%Florida16.15%

$ 60,000

$ 40,000

$ 20,000

0


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CONTACT / BIOGRAPHY Jag Grewal, CCIMPartner

Professional BackgroundA long, winding road brought Jag Grewal to Sarasota sixteen years ago. Born in West Malaysia, he finished elementary school and the family then moved to Singapore. At 14, they immigrated to Australia, where Jag completed high school at 16 and wona scholarship to the University of South Australia. After successfully completing a rigorous degree program in Electrical Engineering, Jag decided to join his father’s property development company and learned the business. In the late 90’s, his entrepreneurial spirit brought him to America. After a short stint in Arizona in property development, Jag discovered Sarasota as he was flying to Africa on a mission assignment. He completed that assignment and moved to Sarasota in December 2000. Jag is married with four children and enjoys squash and golfing, when time permits.

Prior to forming a partnership with Ian Black at Ian Black Real Estate, Jag had been with Coldwell Banker Commercial and was recognized as one of the top 5 producers worldwide, since the firm purchased Arvida Realty in 2001. Mr. Grewal has been involved in a multitude of transactions from investment grade and development to industrial properties, as well as representing Real Estate Investment Trusts, such as The Lightstone Group and Prime Retail. A well respected commercial real estate broker, Jag has completed sales and leases over $350 million in this region and has earned numerous distinctions throughout his career.

Memberships & Affiliations• National, Florida, Sarasota/Manatee Associations of Realtors• Sarasota & Manatee Chambers of Commerce• 2015 Board Member of the Lakewood Ranch Business Alliance• Past President of the Commercial Investment Division – an organization that serves all of the commercial real estate practitioners /affiliates in Sarasota County• Prestigious Commercial Realtor of the Year, awarded by his peers in December 2007

EducationObtained CCIM designation in March 2015, awarded by the Certified Commercial Investment Member Institute.

WWW.IAN-BLACK.COM

Jag Grewal, CCIM Partner T 941.906.8688 ext 105 C 941.356.5042 F 941.906.8288 E [email protected]

Brokerage Services

school and the family then moved to Singapore. At 14, they immigrated to Australia, where Jag completed high school at

Electrical Engineering, Jag decided to join his father’s property development company and learn the business. In the late -

Prior to forming a partnership with Ian Black at Ian Black Real Estate, Jag had been with Coldwell Banker Commercial and

throughout his career including:

* Past President of the Commercial Investment Division

Commercial Realtor of the Year, awarded by his peers in December 2007 * Obtained * Current Board Member of the Lakewood Ranch Business Alliance

Clients Served

• Boca Norte: Sale of 30 acre waterfront tract and marina in Placida• Sunz Insurance LLC: • • Triton Companies/iStar Financial: Sale of BMO Harris Plaza• Boca Grande Area Development: Sale of 153 acres in Placida• • Avesta Homes: Sale of 130 unit Fairway Crossing Apartments in Sarasota• Walgreens:• • Taco Bell: • Family Dollar:• Enzymedica: • Diamond Vault: Sale of 10,000 SF retail building in Sarasota• Daus Investments, LLC: Purchase of 99 room former Best Western hotel in Sarasota• Richard Greenwell:

9.24.18

T: 941.906.8688 x105C: [email protected]


Please Contact:




WWW.IAN-BLACK.COM

Jag Grewal, CCIM Partner T 941.906.8688 ext 105 C 941.356.5042 F 941.906.8288 E [email protected]

Brokerage Services

school and the family then moved to Singapore. At 14, they immigrated to Australia, where Jag completed high school at

Electrical Engineering, Jag decided to join his father’s property development company and learn the business. In the late -

Prior to forming a partnership with Ian Black at Ian Black Real Estate, Jag had been with Coldwell Banker Commercial and

throughout his career including:

* Past President of the Commercial Investment Division

Commercial Realtor of the Year, awarded by his peers in December 2007 * Obtained * Current Board Member of the Lakewood Ranch Business Alliance

Clients Served

• Boca Norte: Sale of 30 acre waterfront tract and marina in Placida• Sunz Insurance LLC: • • Triton Companies/iStar Financial: Sale of BMO Harris Plaza• Boca Grande Area Development: Sale of 153 acres in Placida• • Avesta Homes: Sale of 130 unit Fairway Crossing Apartments in Sarasota• Walgreens:• • Taco Bell: • Family Dollar:• Enzymedica: • Diamond Vault: Sale of 10,000 SF retail building in Sarasota• Daus Investments, LLC: Purchase of 99 room former Best Western hotel in Sarasota• Richard Greenwell:

9.24.18

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CONTACT / BIOGRAPHY Amy MacDougallBroker Associate

Professional BackgroundAmy MacDougall was born and raised on Long Island in Huntington, New York. After graduation, Amy worked as a school psychologist and later spent five years on the east end of Long Island working as a broker / associate with the high-end residential real estate company Allan M. Schneider & Associates, later known as the Corcoran Group. Amy moved to Sarasota in 2007 and worked in the neurology department at USF through a grant with the Parkinson Research Foundation. Amy wanted to segue back into real estate and become part of the exciting Sarasota market and joined Ian Black Real Estate in October of 2013. In her free time Amy enjoys exploring Sarasota with her son, Trey.

Amy was named IBRE Broker of the Year in 2015 and 2016.

Memberships & Affiliations• National, Florida and Sarasota/Manatee Associations of Realtors• Commercial Investment Division• Sarasota/Manatee Chambers of Commerce

EducationObtained CCIM designation in March 2015, awarded by the Certified Commercial Investment Member Institute.

T: 941.906.8688 x108 C: 941.961.3824F: [email protected]

Amy MacDougall Broker AssociateT 941.906.8688 ext 108 C 941.961.3824 F 941.906.8288 E [email protected]

Amy MacDougall was born and raised on Long Island, New York. Before joining Ian Black Real Estate in 2013, Amy was a

Clients Served

• KRB Music Companies:• Brown & Brown: • 1255 Seeds Ave LLC: • XG Technology: • Aquila Investment Group LLC: • • Grande Aire Services: • • Insula Apartment Management LLC: • • Daus Investments, LLC: • Daus Capital, LLC: • • Richard Greenwell: • Lebcorp Inc.: • Allegiant Partners: • Kernan Performance Composits: • David Branch:• Richard Greenwell: • Go Touch Down Travel & Tours Inc.• • Aerotek, Inc.: • Halliday Financial, LLC:

AccomplishmentsNamed IBRE Broker of the Year 2015 and 2016

`12.11.17

FOUR POINTS SHERATON - LoopNet · 2019-01-23 · Siesta Key and Lido Beaches. PROJECT OVERVIEW 1...

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