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Description
Large parcel in the heart of dowtown, with 15 on site parking paces (incredibly rare) and a city parking garage directly across the street.The 13,000 SF building has been gutted and is ready to be finished off or re developed. Zoning is DTC (Downtown Core) allowing 10 stories at 50 units per acre or 18 residential units. Density Bonus: The City of Sarasota, to encourage Attainable Housing, has created an Attainable Housing Density Bonus AHDB entitlement option for DTC, DTB and DTE zoned properties. The AHDB offers up to 4-times the entitled residential density provided 15% of the 'bonus units are 'attainable. Base residential density for the subject is 18-units; under the AHDB the subject is entitled to 72-units provided 8-units 'attainable and 64 may be market rate. 'Attainable is defined that rent or sales price does not exceed 30% of the AMI (area medium income). Currently AMI for the City of Sarasota is approximately $80,000 per year.
Property Highlights
Property Type: Commercial -
Cooling: Other
Lot Size: 0.36 Acres
Stories: 2.0
Taxes: $42,149
Year Built: 1921
General Information
County: Sarasota
Subdivision: PLAT OF SARASOTA EXHIBIT
Listed By:
Tom Cail, PA
RE/MAX ALLIANCE GROUP
941-954-5454
MLS ID: A4683759
Property Features
Days on Site: 6
Directions: Ringling to state street
Exterior: Block, Brick
Flood Zone Code: X
Foundation: Slab
Home Warranty Y/N: No
Lot Dimensions: 0.36
Ownership: Corporation
Property Attached Y/N: No
Property Sub-Type: Mixed Use
Showing Instructions: Appointment Only, Contact Call Center
Special Sale Provisions: None
Water Access Y/N: No
Zoning: DTC
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1565 State Street , Sarasota, FL 34236.
About this area
About Sarasota
Sarasota, FL is a cultural gem. Once home to the Ringling Brothers Circus, Sarasota boasts a rich arts scene that brings people from all over the area to enjoy world-class theater, music, and other performing arts. Sarasota is also a haven with spectacular scenery, turquoise water and white sandy beaches. It offers a delightful downtown with a variety of small boutiques and exceptional restaurants. With its dynamic culture and arts scene and incredible natural beauty, Sarasota is a wonderful place to call “home.”