PRICED AT ONLY: $5,900,000
Address: 1565 State Street, SARASOTA, FL 34236
Description
Large parcel in the heart of dowtown, with 15 on site parking paces (incredibly rare) and a city parking garage directly across the street.
The 13,000 SF building has been gutted and is ready to be finished off or re developed. Zoning is DTC (Downtown Core) allowing 10 stories at 50 units per acre or 18 residential units. Density Bonus: The City of Sarasota, to encourage Attainable Housing, has created an Attainable Housing Density Bonus AHDB entitlement option for DTC, DTB and DTE zoned properties. The AHDB offers up to 4 times the entitled residential density provided 15% of the bonus units are attainable. Base residential density for the subject is 18 units; under the AHDB the subject is entitled to 72 units provided 8 units attainable and 64 may be market rate. Attainable is defined that rent or sales price does not exceed 30% of the AMI (area medium income). Currently AMI for the City of Sarasota is approximately $80,000 per year.
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- MLS#: A4683759 ( Commercial Sale )
- Street Address: 1565 State Street
- Viewed: 1
- Price: $5,900,000
- Price sqft: $451
- Waterfront: No
- Year Built: 1921
- Bldg sqft: 13076
- Days On Market: 33
- Additional Information
- Geolocation: 27.3359 / -82.5393
- County: SARASOTA
- City: SARASOTA
- Zipcode: 34236
- Subdivision: Plat Of Sarasota Exhibit
- Provided by: RE/MAX ALLIANCE GROUP
- Contact: Tom Cail, PA
- 941-954-5454
- DMCA Notice
Features
Building and Construction
- Covered Spaces: 0.00
- Living Area: 12626.00
Property Information
- Property Condition: Under Renovation
Garage and Parking
- Garage Spaces: 0.00
- Open Parking Spaces: 0.00
Utilities
- Carport Spaces: 0.00
- Cooling: Other
- Road Frontage Type: Alley, City Street
Finance and Tax Information
- Home Owners Association Fee: 0.00
- Insurance Expense: 0.00
- Net Operating Income: 0.00
- Other Expense: 0.00
- Tax Year: 2025
Other Features
- Country: US
- Legal Description: LOTS 16, 18 & 20, BLK 5, PLAT OF SARASOTA
- Area Major: 34236 - Sarasota
- Occupant Type: Vacant
- Parcel Number: 2027030104
- Zoning Code: DTC
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Contact Info
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- Mobile: 904.248.9848
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