Active

40 S BLVD OF THE PRESIDENTS

SARASOTA FL, 34236

$10,500,000


$1,127.46 per sqft

Active

9,313 sqft

Commercial

Built in 1964

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, two of the offices have 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 $37,000 / month, triple net, and a portion of the upstairs offices for more than $13,000 / month, triple net.

T3512818

MLS ID

March 21, 2024

Listed

July 14, 2024

Updated

Map

40 S BLVD OF THE PRESIDENTS
SARASOTA FL, 34236

Interior Features

Total Stories

2


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

No

Exterior/Building Features

Lot Size

0.11 Acres


Roof

Built-Up

Other Property Details

Area Name

34236 - Sarasota


Taxes

$53,925


Tax Frequency

Annually


Garage

No


View

No


County

Sarasota


Municipality

36S


Pool

No


Zoning

CT


Buyer Agency Compensation

1%

Listed by LPT REALTY
Listing Contact: 877-366-2213 

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Data last updated 7/14/2024, 7:04 AM UTC

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