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$10,500,000
26 Days Online

40 S Blvd Of The Presidents
Sarasota, FL 34236

For Sale|Commercial|Active
0
Beds
0
Full Baths
0
Partial Baths
9,313
SqFt
$1,127
/SqFt
1964
Built
Subdivision:
Saint Armands Div John Ringling Estates
County:
Sarasota

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40 S Blvd Of The Presidents40 S Blvd Of The Presidents40 S Blvd Of The Presidents40 S Blvd Of The Presidents
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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.

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Listing Snapshot
Price 
$10,500,000
Days Online 
26 Days
Bedrooms 
N/A
Inside Area (SqFt) 
9,313 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.11 Acres
Year Built 
1964
MLS® Number 
T3512818
Status 
Active
Property Tax 
$53,925
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Public Records
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS®
4 weeks agoListing first seen online
General Features
Construction 
BrickConcrete
Building Features 
BathroomsElevatorKitchen FacilityRamp
Number of Stories 
2
Acreage 
0.11
Property Sub Type 
Mixed Use
Foundation 
Slab
Zoning 
CT
Ownership 
Sole Proprietor
Parcel Number 
2014050106
Interior Features
Cooling 
Central Air
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Exterior Features
Roof 
Built- Up
Waterfront Property 
No
Road Frontage 
AlleyCity Street
Community Features
Township 
36S
MLS Area 
34236 - Sarasota
Building Features 
BathroomsElevatorKitchen FacilityRamp
Listing courtesy of LPT REALTY 877-366-2213



Listing information is provided by Participants of the Stellar MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Properties displayed may be listed or sold by various participants in the MLS Copyright 2024, Stellar MLS.
Data last updated at: 2024-04-16 11:10 PM EDT

Neighborhood & Commute
Source: Walkscore
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