USAFLSarasotaPos Sub of Lt 12 Blk Y1419 & 1427 7Th Street

1419 & 1427 , Sarasota, FL

House

For Sale

Listed price in listed location currency (USD).

$2,495,000

000

MLS® A4706531

Overview

Key Facts

Type Mixed Use

Levels Commercial Sale

Size 2047 sqft

Garage

Taxes $15,475

Days Active 1

Lot Size 0.31 Acres

Approx. Age 1985

Avg. Price Per Sqft $1,218

MLS® Number A4706531

Property Address: 1419 & 1427 7th Street, SARASOTA, FL, 34236

Average square foot calculated using Size range provided by listing agent.

Description

Capture an opportunity to acquire one of the remaining development sites in Sarasota’s Rosemary Arts and Design District. This 13, 300-square-foot property offers Downtown Edge zoning within the Rosemary Residential Overlay District, with potential for a five-story, 31-residence condominium or mixed-use project and up to 31 parking spaces, subject to applicable zoning, governmental approvals and development requirements. Located approximately 100 feet from Central Avenue and blocks from Sarasota Bay and downtown Sarasota, the property is positioned near the Rosemary District’s growing collection of restaurants, art galleries, shops and design destinations. The site currently includes two commercial buildings generating more than $3, 900 in combined monthly rental income and 11 paved parking spaces, providing income while future development plans are considered. The tenant has a triple-net lease. Tenants have invested more than $150, 000 in building improvements and improvements to the paved parking area. New roofs were installed on both buildings in 2006, and both buildings were tented for wood-destroying organisms in 2017. A contemporary condominium development is planned across Seventh Street. The listing agent can provide additional information regarding the proposed project. The property is being offered subject to existing lease terms through May 2027. Tenants have a right of first refusal on contracts written before May 2027. With its development potential, existing income and location within the Rosemary Arts and Design District, this property presents an opportunity to establish a presence in one of downtown Sarasota’s evolving districts. ****ADJACENT VACANT LAND MLS A4706492 TOGETHER WITH THIS PROPERTY OFFERS A 62 UNIT DEVELOPMENT OPPORTUNITY.***

MLS® NumberA4706531

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1985

Basement

DrivewayCommon, Curb Parking

Garage Spaces

Heat

A/CCentral Air

Extras

Map

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