Address
1565 State Street, SARASOTA, FL
Price
$ 5,900,000
Property Attributes
  • MLS#A4683759
  • TypeCommercial
  • Listing Status Active
  • CountySarasota
  • CitySARASOTA
  • AreaSarasota
  • NeighborhoodPLAT OF SARASOTA EXHIBIT
  • Zip34236
  • StyleMixed Use
  • Year Built1921
  • Taxes$ 42149
  • Price$ 5,900,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12626
  • Lot Size0.36 Acres
Data Source:
Stellar MLS
Property 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.

Price History
2/24/2026 Listed $5,900,000

General Features

Cooling Other
Zoning DTC
Construction Materials Block,Brick
Year Built 1921
Property Subtype Mixed Use
Tax Year 2025
Ownership Corporation
County Sarasota
New Construction false
Property Type Commercial Sale
Subdivision Name PLAT OF SARASOTA EXHIBIT
Status Active
Directions Ringling to state street
City SARASOTA
MLS Area 34236 - Sarasota
Lot Size Units Square Feet
Lot Size Square Feet 15750
Tax Annual Amount 42149.19
Property Condition Under Renovation
Additional Parcels Y/N false
Virtual Tour https://www.propertypanorama.com/instaview/stellar/A4683759
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Vacant
Tax Lot 16
Legal Description LOTS 16, 18 & 20, BLK 5, PLAT OF SARASOTA
Water Access Y/N false
Water View Y/N false
Flood Zone Code X
Flood Zone Code X Yes
DockY/N false

Interior Features

Total Stories 2
Air Conditioning Y/N true
LivingAreaSource Public Records

Exterior Features

Lot Size Area 15750
Foundation Details Slab
Number of Buildings 1
Building Area Total 13076
Lot Size Acres 0.36
Road Surface Type Asphalt
Waterfront Y/N false
Road Frontage Type Alley,City Street

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 34236

Price
AVG $2.78M
$5.9M
Taxes
AVG $19,749
$42,149
Year Built
AVG 1979
1921