Downtown Investment/Development Opportunity

Office for Sale
Catylist Listing ID: 30847702
Property Subtypes: Mixed Use, Office Building, Other
Building Size (RSF): 50,459 SF
Gross Building Area: See Agent
Gross Land Area: 0.93 Acres
Sale Price: See Agent
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Building Name: The Pointe
Class of Space: Class B
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/12/2023

Overview / Comments

Fantastic Development Opportunity located on main corner in Downtown Sarasota!! 50,459 sf 7-story office building. Block 1 of the new and highly anticipated Park District, which is estimated to house 1,250 apartments, office, retail, and other attractions. the Mixed use and multi-family development or potential for renovation of current building for continued office use. The current zoning of Downtown Core allows for base density of 50 units per acres and bonus density allows for 4xs the density making it 200 units per acre. The property sits on 0.93 acres with a parking easement of approximately 150 spaces located in a to be built newly constructed apartment building on Block 2 (immediately east of the subject site) The development could possibly include retail, office, restaurant, multi-family, and hotel. The property is centrally located at the entrance to the downtown core, benefits from easy pedestrian access, and an abundance of shopping, dining, and entertainment options. The property boasts a high walkability score. The parcel is the largest and last assemblage with a Downtown Core (DTC) zoning in downtown Sarasota. Located in an Opportunity Zone.

Excellent visibility on Fruitville Rd. East Ave., and N Washington Blvd. The site has access to a full movement, signalized intersection at Fruitville and East. Easy access back to Main and Washington.

Contact Agent for additional details and private showing!

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Public Records
Tax ID/APN: 2026160011

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,403 83,307 169,062
Median Age: 41.53 44.93 47.86
Households: 6,284 36,972 77,290


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