Excellent Downtown Redevelopment Site Opportunity!

Office for Sale
Sale Pending/Contingent
Catylist Listing ID: 30812224
Property Subtypes: Office Building
Status: Pending/Contingent
Building Size (RSF): 14,186 SF
Gross Building Area: See Agent
Gross Land Area: 31,140 SF
Sale Price: $5,700,000
Unit Price: $401.80 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/7/2022

Overview / Comments

Surrounded by restaurants, shopping, entertainment and other amenities, this prime downtown property on Main Street and Osprey Avenue offers an incredible redevelopment opportunity for a multifamily, condominium or mixed-use project. The well-located parcel is in a fast-growing area one block west of a major new mixed-use redevelopment under construction at 1991 Main St. that will include more than 400 luxury apartments and abundant space for retail businesses on the ground floor. Another proposed mixed-use development is planned just west of the parcel, at Main Street and Goodrich Avenue, and will include a restaurant, 35 residential units and a hotel.

Building to be sold "Where is - As is".

Location: 1801 Main Street and 32-40 N. Osprey Avenue (combined
in to one parcel)
Current use: 2 office buildings on-site, 10,796 SF and 3,390 SF both 2
stories
Parking: 41 surface spaces
Parcel: 31,140 SF or .715 acres
Zoning: Downtown Core (DTC)
Max Stories: 10 (can apply for an exception to go 11 if you provide 1
story of public parking)
Max units: 35 dwelling units (50 per acre by code)

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 2027010028
Zoning: DOWNTOWN CORE
Property Located Between: Main Street and N Osprey Avenue
Property Visibility: Excellent
Highway Access: US-41 and US-301
Airports: Sarasota-Bradenton International Airport
Area Description: Located minutes to the bay in the heart of downtown Sarasota, near bus lines, and minutes away from 41, 301, and Interstate 75.
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1984
Parking Type: Surface
Total Parking Spaces: 41
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Zoning Description: DTC (Downtown Core)
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOTS 3, 4, 5 & 6 FRANK N TYLER RESUB OF LOT 14 BLK I AND SUB OF LOT 16 BLK I P O S TOGETHER WITH LOT 8 LESS W 5 FT FOR ROW FRANK N TYLER RESUB OF LOT 14 BLK I & SUB OF LOT 16 BLK I PLAT OF SARASOTA TOGETHER WITH LOT 7 FRANK N TYLER RESUB OF LOT 14 BLK I & SUB OF LOT 16 BLK I PLAT OF SARASOTA, BEING THE SAME LANDS AS DESC IN OR 2396/0402 & ORI 2001183084 & 2006112751

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,376 80,738 166,932
Median Age: 45.68 45.53 47.86
Households: 8,147 36,051 76,462

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