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Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1964
Sq.Footage
9,313
Rare Mixed-Use Investment & Redevelopment Opportunity Unique in its kind and virtually impossible to replicate, this prominent 10,000 SF mixed-use commercial asset is located within the one and only St. Armands Key district, one of the most exclusive and supply-constrained retail and dining destinations on Florida’s Gulf Coast. Positioned on a highly visible corner lot with three street frontages, the property combines stabilized income with exceptional long-term redevelopment potential. The ground floor is currently leased to an operating restaurant under a five-year lease commenced August 2025, providing immediate income to the new owner. The second floor offers flexible office, hospitality, or repositioning opportunities. Constructed of reinforced concrete, steel, and glass, the structure was originally engineered to support vertical expansion. The city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. ? Investment Highlights 10,000 SF two-story commercial building Corner property with three street frontages Stabilized income component Flexible second-floor configuration Approved vertical expansion Air rights / redevelopment upside Reinforced concrete and steel construction Rare St. Armands Key location Hurricane-resilient structure Rear loading and unloading area Direct owner offering Air Rights & Vertical Expansion The current building height is approximately 22 feet. The city has already approved one additional 5,000 SF level, and the structure was originally engineered to support up to six stories, subject to future review and approval. This creates a rare opportunity for long-term redevelopment and value creation in one of Sarasota’s most desirable island markets.
Features & Amenities
Interior
-
Other Interior Features
Elevator
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick, Concrete
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
0.11
-
Lot Size(square feet)
5000.0
-
Property Type
Commercial Sale
-
Property Sub Type
Mixed Use
Price
-
Sales Price
$9,700,000
-
Tax Amount
$55,864
-
Sq. Footage
9, 313
-
Price/SqFt
$1,041
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
New Construction
NO
-
Foundation Details
Slab
-
Ownership
Fee Simple
-
Tax Lot
1
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Location
County
Sarasota
Elementary School
Middle School
High School
Listing Courtesy of Patricia Maxey , LPT REALTY, LLC
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