Lease to Own
Address
40 S Blvd Of The Presidents, SARASOTA, FL
Price
$ 10,500,000
Property Attributes
- MLS#T3512818
- TypeCommercial
- CountySARASOTA
- CitySARASOTA
- AreaSarasota
- NeighborhoodSaint Armands Div John Ringling Estates
- Zip34236
- StyleMixed Use
- Year Built1964
- Taxes$ 53925
- Price$ 10,500,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9313
- Lot Size4,792 SqFt
Data Source:
Stellar MLS
Property Description
ONE-OF-A-KIND, FABULOUS COMMERCIAL OPPORTUNITY with this EXPANSIVE, END-UNIT BUILDING in the heart of prestigious ST. ARMAND'S CIRCLE in Sarasota! This property is currently a two story building, though the City of Sarasota has APPROVED THE ADDITION OF A THIRD FLOOR, making it THE ONLY THREE STORY BUILDING in all of St. Armand's!! St. Armand's Circle is known for its high-end boutiques, unique specialty shops, exquisite restaurants, and amazing art galleries, and it is THE place to be for SW Florida tourism! Nestled between Downtown Sarasota and Longboat Key and Lido Key beaches, Sarasota Bay and the Gulf of Mexico, it is a high-traffic, high retail and dining area, close to some of Sarasota's finest luxury hotels and yacht clubs. St. Armand's seems to have a pulse all its own, and it is something you must experience to truly appreciate the rich, vibrancy and culture that truly IS SAINT ARMAND'S CIRCLE! With rich, classic architecture and great modern amenities and updates throughout, this property presents a very unique opportunity for investors or businesses looking to establish themselves in a thriving, upscale market area, rich in tourism and culture! This property boasts a range of features and updates, making it a compelling opportunity for buyers seeking a comfortable, modern multi-use space . The first floor features FORTY FEET OF WINDOW FRONTAGE for great interior visibility and plenty of natural light, gorgeous, rich tongue and groove ceiling feature, tile flooring throughout, 2 restrooms, storage room, office (which can be converted back to a third restroom), a large bar / concierge / service desk, a wine cellar, and a 1,000sf full commercial kitchen with two entrances and a walk-in cooler. The second floor features a total of nine various sized office suites, two restrooms, and an FCAP room, all with BRAND NEW LVP FLOORING spanning the entire second floor. This provides an excellent opportunity for versatility for a range of businesses and / or lease options. Currently, two of the offices have tenants who are on month-to-month leases, providing ease and flexibility for the new owners. You can easily access the second - AND SOON TO BE THIRD FLOOR - via either of the TWO INTERIOR STAIRWAYS or the INTERIOR ELEVATOR. Should you choose to rent out the second floor or any of its offices, you'll have peace of mind in the lock-out feature from the stairway / elevator corridor, thus securing the first floor business and its contents. The culmination of first and second floor indoor space spans an impressive 9,313sf, providing plenty of room to take advantage of the multi-use zoning. This building was structured to accommodate a SIX STORY BUILDING! There truly is nothing else like it in St. Armand's! In addition to its current layout, the seller is in the permitting phase of adding a third floor, further enhancing its potential as well as its value! There are more than 360 parking spaces within one block, 56 right in front of the building. This building was professionally inspected in 2023. Overall, there are 16 HVAC units, ranging in age from 1997-2022. Sellers have rented the first floor for more than $37,000 / month, triple net, and a portion of the upstairs offices for more than $13,000 / month, triple net.
| Price History | |
|---|---|
| 3/21/2024 | Listed $10,500,000 |
General Features
| Cooling | Central Air |
|---|---|
| Roof | Built-Up |
| Zoning | CT |
| Construction Materials | Brick,Concrete,Metal Frame |
| Year Built | 1964 |
| Property SubType | Mixed Use |
| Tax Year | 2023 |
| Percent Ownership | Sole Proprietor |
| County | Sarasota |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | SAINT ARMANDS DIV JOHN RINGLING ESTATES |
| Building Features | Bathrooms,Elevator,Kitchen Facility,Ramp |
| Status | Active |
| Directions | From the roundabout at Fruitville Rd. and N. Tamiami Trail,take the third exit onto N. Tamiami Trail. Turn West onto Gulfstream Ave. This road becomes John Ringling Causeway. At St. Armand's Cir.,tak |
| City | SARASOTA |
| Buyer Agent Compensation | 1% |
| MLS Area | 34236 - Sarasota |
| Lot Size Square Feet | 5000 |
| Waterfront Y/N | No |
| Street Name | Blvd Of The Presidents |
| Tax Annual Amount | 53925.23 |
| Public Remarks | ONE-OF-A-KIND,FABULOUS COMMERCIAL OPPORTUNITY with this EXPANSIVE,END-UNIT BUILDING in the heart of prestigious ST. ARMAND'S CIRCLE in Sarasota! This property is currently a two story building,though |
| Virtual Tour | https://www.youtube.com/watch?v=99c9HTyhXTI |
| Standard Status | Active |
| Tax Lot | 1 |
| Legal Description | LOT 1 BLK 11 ST ARMANDS DIVISION |
| Water Access Y/N | No |
| Water View Y/N | No |
Interior Features
| Total Stories | 2 |
|---|---|
| Air Conditioning Y/N | Yes |
| LivingAreaSource | Public Records |
| Living Area Units | Square Feet |
Exterior Features
| Lot Size Area | 5000 |
|---|---|
| Foundation Details | Slab |
| Number of Buildings | 1 |
| Building Area Total | 10000 |
| Lot Size Acres | 0.11 |
| Road Surface Type | Asphalt,Paved |
| Lot Size Units | Square Feet |
| Road Frontage Type | Access Road,Alley,City Street |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 34236
Price
Taxes
Visits
Year Built
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated Last updated on May 15, 2024 11:39 AM UTC The listing information on this page last changed on Last updated on May 15, 2024 11:39 AM UTCd. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MFR MLS.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 15, 2024 11:39 AM UTC
