Brooklyn investor NaKo777 LLC buys U.S. 41 Circle K station

BUYER: NaKo777 LLC (Charles Bradley), Brooklyn, N.Y.
SELLER: K41 LLC
PROPERTY: 1801 S. Tamiami Trail, Sarasota
PRICE: $2.33 million
PREVIOUS PRICE: $1.73 million, May 2009
LAW FIRM ON DEED: Richard D. Saba PA, Sarasota

PLANS, DESCRIPTION: A Brooklyn, N.Y., investor purchased a 4,121-square-foot service station on U.S. 41 across from Sarasota Memorial Hospital for $2.33 million.

The price equated to $564 per square foot. That figure is higher than the two-year average price per square foot for retail space ($146) in the Tampa Bay area, according to the CoStar Group.

The freestanding building is operated as a Circle K gas station. Circle K Stores Inc. signed a triple-net lease for the property in May 28, 2009, and has 13 years remaining. Circle K Stores is obligated to cover all property taxes, insurance, repairs and maintenance on the property.

Chris Sands and Tom Davies of Sands Investment Group represented the seller and Andrew Fallon of the Calkain Cos. represented the buyer.

The purchase entity, NaKo777 LLC, mortgaged the property to Gateway Bank of Southwest Florida for $1.2 million.