$10,500,000
40 S BLVD OF THE PRESIDENTS
SARASOTA, FL, 34236
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.
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.
Property Details
Price:
$10,500,000
MLS #:
T3512818
Status:
Active
Beds:
0
Baths:
0
Address:
40 S BLVD OF THE PRESIDENTS
Type:
Commercial
Subtype:
Mixed Use
Subdivision:
SAINT ARMANDS DIV JOHN RINGLING ESTATES
City:
SARASOTA
Listed Date:
Mar 21, 2024
State:
FL
Finished Sq Ft:
9,313
ZIP:
34236
Lot Size:
5,000 sqft / 0.11 acres (approx)
Year Built:
1964
Schools
Interior
Cooling
Central Air
Exterior
Construction Materials
Brick, Concrete, Metal Frame
Roof
Built- Up
Financial
Buyer Agent Compensation
1%%
Tax Year
2023
Taxes
$53,925
Mortgage Calculator
Map
Courtesy of LPT REALTY. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Stellar MLS. All rights reserved.
40 S BLVD OF THE PRESIDENTS
SARASOTA, FL
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