Osprey investors buy on U.S. 41, plan dealership

BUYER: Michael and Evelyn Lombardo, Osprey

SELLER: Janet Germain

PROPERTY: 8700 S. Tamiami Trail, Sarasota

PRICE: $425,000

PREVIOUS PRICE: $650,000, March 19990

TITLE FIRM ON DEED: Choice Title Services, Bradenton

PLANS, DESCRIPTION: Michael and Evelyn Lombardo of Sarasota purchased the 6,250-square-foot retail building for $425,000. The price equated to $68 per square foot.

The property, on U.S. 41, south of Central Sarasota Parkway, previously housed Eurostone Marble and Granite. Prior to that it was an auto dealership.

Jag Grewal and Michele Fuller of Ian Black Real Estate represented the seller and David Roth of Century 21 All Aces represented the buyer.

“The buyers liked the location and the fact that there was an easy ingress and egress off [U.S.] 41,” Grewal says. “The condition of the building was average. It needed a new roof and there was deferred maintenance.”

The Lombardos plan to use the property for a used car dealership.