40 S BLVD OF THE PRESIDENTS, Sarasota, FL 34236 - MLS#T3512818

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Alina Pekarsky

Virtual Homes Realty

alina@vhrfl.com +1(386) 569-5383

$10,500,000

Est. payment - /mo

9,313 SqFt

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UPDATED:

01/31/2025 08:54 PM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 9,313 sqft

Price per Sqft $1,127

Subdivision Saint Armands Div John Ringling Estates

MLS Listing ID T3512818

HOA Y/N No

Originating Board Stellar MLS

Year Built 1964

Annual Tax Amount $53,925

Lot Size 4,791 Sqft

Acres 0.11

Property Sub-Type Mixed Use

Property Description

ONE-OF-A-KIND, FABULOUS COMMERCIAL OPPORTUNITY with this EXPANSIVE, END-UNIT BUILDING in the heart of prestigious ST. ARMAND'S CIRCLE in Sarasota! This property is currently a two story building, though the City of Sarasota has APPROVED THE ADDITION OF A THIRD FLOOR, making it THE ONLY THREE STORY BUILDING in all of St. Armand's!!

St. Armand's Circle is known for its high-end boutiques, unique specialty shops, exquisite restaurants, and amazing art galleries, and it is THE place to be for SW Florida tourism! Nestled between Downtown Sarasota and Longboat Key and Lido Key beaches, Sarasota Bay and the Gulf of Mexico, it is a high-traffic, high retail and dining area, close to some of Sarasota's finest luxury hotels and yacht clubs. St. Armand's seems to have a pulse all its own, and it is something you must experience to truly appreciate the rich, vibrancy and culture that truly IS SAINT ARMAND'S CIRCLE!

With rich, classic architecture and great modern amenities and updates throughout, this property presents a very unique opportunity for investors or businesses looking to establish themselves in a thriving, upscale market area, rich in tourism and culture! This property boasts a range of features and updates, making it a compelling opportunity for buyers seeking a comfortable, modern multi-use space .

The first floor features FORTY FEET OF WINDOW FRONTAGE for great interior visibility and plenty of natural light, gorgeous, rich tongue and groove ceiling feature, tile flooring throughout, 2 restrooms, storage room, office (which can be converted back to a third restroom), a large bar / concierge / service desk, a wine cellar, and a 1,000sf full commercial kitchen with two entrances and a walk-in cooler.

The second floor features a total of nine various sized office suites, two restrooms, and an FCAP room, all with BRAND NEW LVP FLOORING spanning the entire second floor. This provides an excellent opportunity for versatility for a range of businesses and / or lease options. Currently, one office has tenants who are on month-to-month leases, providing ease and flexibility for the new owners. You can easily access the second - AND SOON TO BE THIRD FLOOR - via either of the TWO INTERIOR STAIRWAYS or the INTERIOR ELEVATOR. Should you choose to rent out the second floor or any of its offices, you'll have peace of mind in the lock-out feature from the stairway / elevator corridor, thus securing the first floor business and its contents.

The culmination of first and second floor indoor space spans an impressive 9,313sf, providing plenty of room to take advantage of the multi-use zoning. This building was structured to accommodate a SIX STORY BUILDING! There truly is nothing else like it in St. Armand's! In addition to its current layout, the seller is in the permitting phase of adding a third floor, further enhancing its potential as well as its value!

There are more than 360 parking spaces within one block, 56 right in front of the building.

This building was professionally inspected in 2023. Overall, there are 16 HVAC units, ranging in age from 1997-2022.

Sellers have rented the first floor for more than $27,000 / month, triple net, and a portion of the upstairs offices for more than $13,000 / month, triple net.

Property Available for Lease as well.

See remarks for more information

Location

State FL

County Sarasota

Community Saint Armands Div John Ringling Estates

Zoning CT

Interior

Cooling Central Air

Exterior

Roof Type Built-Up

Building

Story 2

Foundation Slab

Lot Size Range 0 to less than 1/4

Structure Type Brick,Concrete,Metal Frame

New Construction false

Others

Ownership Sole Proprietor

Special Listing Condition None

Virtual Tour https://www.youtube.com/watch?v=99c9HTyhXTI

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Listed by LPT REALTY

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Alina Pekarsky

+1(386) 569-5383

Broker | BKBK3118291

Broker BKBK3118291

40 S BLVD OF THE PRESIDENTS Sarasota, FL 34236

Alina Pekarsky

Key Details

Location

Interior

Exterior

Building

Others

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