Commercial property for sale on Anna Maria Island business possibilities

You can own business property in the City of Anna Maria right on GULF DRIVE call Al

Thru the end of April, 2016 Y-T-D AMI real estate sales at 117 (SF-67, Con-32, Dup-11, & Lot-7) were down 28% from April, 2015 Y-T-D at 143 (SF-82, Con-44, Dup-6 & Lot-11). This is about where we were at the end of the first quarter, so we haven’t gained and are behind last year at about the same percentage.

Sales in April 2016 were 39 (SF-24, Con-10, Dup-2 & Lot-3) down 5% from April 2015 at 41 (SF- 21, Con-15, Dup-1 & Lot-4). The last 12 months sales (May 1, 2015 to April 30, 2016) were 381 (SF-213, Con-116, Dup-32, Lot-20) equal to the previous 12 months (May 1, 2014 to April 30, 2015) at 381 (SF-217, Con-110, Dup-29 & Lot-25). Of the last 12 months sales only 3% or 12 (SF-7, Con-4, Dup-1 & Lot-0) were distressed properties (bank owned or short sales) compared to 6% or 23 (SF-12, Con-5, Dup-6 & Lot-0) in the previous 12 months (April 1, 2014 to March 31, 2015). Only one month in for the quarter but inventory is down and transactions are up creating a great absorption rate. Inventory is currently at 308 (SF-171, Con-90, Dup-21 & Lot-26). Inventory for the previous four months were 343, 342,328 and 309.

If you’re looking for investment properties to buy with a good return there are still some available. The property at 214 Fir, City of Anna Maria is a 3 BR/2 bath each side duplex, three houses to the beach listed at $1,499,900 is a great rental with a 7% return and does $185,000 in gross annual rentals.

Another great rental with a 6% return is 209 54th St. Holmes Beach FL.  It’s a newly built (2014) 8 bedroom/6 bath, 2,936 sq. ft. home a block to Anna Maria Beaches with peaks of the gulf and it does about $225,000 in gross annual rental and is listed at $2,300,000. Call me for more information on these or other properties.

Anna Maria Island Real Estate Summary

To summarize the market for the first five months of 2016 has started off a little slower than 2015 which at this point in time in 2014 had about the same number of sales. But if you look at pended properties they are well above the average which could mean a continued strengthening of sales as we continue through the year. Distressed properties continue to be non-existent and will continue to be so. There is currently still only one distressed single family property in the inventory. Pended properties (properties under contract) continue well above average at 79 (SF-55, Con-21, Dup-1 & Lot-2) up from 51 last month. The distribution of the single family sales on AMI over the last 12 months was 20% <$500K, 41% 500K-750K, 16% between $750K and $1 million and 23% over $1 million. The distribution for Condo sales over the last 12 months is 79% <$500K, 17% $5000K-$750K, 3% $750K – $1 million and 1% >$1 million. These percentages have been pretty consistent over the last year or so.

Longboat Key current inventory is 374 (SF- 136, Con- 200, Dup- 3 & Lot- 35) down from 387 last month. Pended properties on Longboat Key is 86 (SF-30, Con-56, Dup-0 & Lot-0) about equal to last months 87, and Distressed properties on Longboat Key are only 4 (SF-0, Con-4, Dup-0 & Lot-0). The distribution for single family home sales on Longboat Key for the last 12 months was 26% <$500K, 26% $500K – $750K, 20% $750 K – $1 million & 28% >$1 million. The distribution for Condo sales on Longboat Key for the last 12 months was 49% <$500K, 22% $500K – $750K, 11% $750K – $1 million & 18% >$1 million. The distribution of sale between single family and condos on Longboat Key have not changed much over the last year.

Again you can see from the charts in the full newsletter that average and median sale prices have both gone up for the last 12 months compared to the previous 12 months. Definitely a healthy market with sales high and inventory low.

Keep those calls and e-mails coming! We love hearing from you……Alan, Frank & Scott

For detailed charts and additional information about Anna Maria Island real estate for sale, view our full newsletter.

941-232-2216 ALAN
SCOTT 941.779.3313