1256 5th Street

Multi-Family for Sale
Catylist Listing ID: 30802104
Property Subtypes: High-Rise
Building Status: Proposed
Number of Units: 7 Units
Building Size (RSF): 6,393 SF
Gross Building Area: See Agent
Gross Land Area: 21,000 SF
Sale Price: $3,990,000
Unit Price: $570,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/7/2022

Overview / Comments

Three parcels with residential structures. The two parcels on 4th Street are adjacent and the 5th Street parcel is non-contiguous. The structures are old and the seller makes no warranty of condition.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 2026120054
Zoning: DTE
Site Description: The subject properties are located mid-block on 4th and 5th St. just north of downtown, west of the Rosemary District and in the heart of redevelopment of the N Trail south of 10th Street.
Area Description: This neighborhood is poised for massive redevelopment with the Blvd Condominiums and Sarasota Modern Hotel both on Blvd of the Arts. The remaining area south of Blvd of the Arts, west of Cocoanut Ave, east of Tamiami Trail and north of Fruitville Road is poised to be the next targeted area for redevelopment into luxury condominiums.
Total Number of Buildings: 3
Property Condition: Good
Zoning Description: All three parcels are currently zoned Downtown Edge (DTE) but are eligible for rezoning to Downtown Core (DTC) within City of Sarasota. Several neighboring properties have been rezoned to DTC.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,272 70,330 155,391
Median Age: 49.24 44.81 48.39
Households: 5,812 31,184 71,448


Photograph of Listing Agent

John B Harshman

MFCRE Member
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