Property Attributes
- MLS#TB8516925
- TypeCommercial
- Listing Status Active
- CountySarasota
- CitySARASOTA
- AreaSarasota
- NeighborhoodSAINT ARMANDS DIV JOHN RINGLING ESTATES
- Zip34236
- StyleMixed Use
- Year Built1964
- Taxes$ 55864
- Price$ 9,690,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9313
- Lot Size0.11 Acres
Data Source:
Stellar MLS
Property Description
Rare Mixed-Use Investment & Redevelopment Opportunity Unique in its kind and virtually impossible to replicate, this prominent 10,000 SF mixed-use commercial asset is located within the one and only St. Armands Key district, one of the most exclusive and supply-constrained retail and dining destinations on Florida’s Gulf Coast. Positioned on a highly visible corner lot with three street frontages, the property combines stabilized income with exceptional long-term redevelopment potential. The ground floor is currently leased to an operating restaurant under a five-year lease commenced August 2025, providing immediate income to the new owner. The second floor offers flexible office, hospitality, or repositioning opportunities. Constructed of reinforced concrete, steel, and glass, the structure was originally engineered to support vertical expansion. The city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. ? Investment Highlights 10,000 SF two-story commercial building Corner property with three street frontages Stabilized income component Flexible second-floor configuration Approved vertical expansion Air rights / redevelopment upside Reinforced concrete and steel construction Rare St. Armands Key location Hurricane-resilient structure Rear loading and unloading area Direct owner offering Air Rights & Vertical Expansion The current building height is approximately 22 feet. The city has already approved one additional 5,000 SF level, and the structure was originally engineered to support up to six stories, subject to future review and approval. This creates a rare opportunity for long-term redevelopment and value creation in one of Sarasota’s most desirable island markets.
| Price History | |
|---|---|
| 6/8/2026 | Listed $9,700,000 |
| 8/27/2026 | 90$960,000 |
| 8/31/2026 | 909$9,690,000 |
General Features
| Cooling | Central Air |
|---|---|
| Roof | Built-Up |
| Zoning | CT |
| Construction Materials | Brick,Concrete,Metal Frame |
| Year Built | 1964 |
| Property Subtype | Mixed Use |
| Tax Year | 2024 |
| Ownership | Fee Simple |
| County | Sarasota |
| New Construction | false |
| Property Type | Commercial Sale |
| Subdivision Name | SAINT ARMANDS DIV JOHN RINGLING ESTATES |
| Building Features | Bathrooms,Elevator,Kitchen Facility,Ramp |
| Status | Active |
| Directions | From the roundabout at Fruitville Rd. and N. Tamiami Trail, take the third exit onto N. Tamiami Trail. Turn West onto Gulfstream Ave. This road becomes John Ringling Causeway. At St. Armand's Cir., take the third exit onto Blvd. of the Presidents. Subject is the last building, corner unit. |
| City | SARASOTA |
| MLS Area | 34236 - Sarasota |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 5000 |
| Tax Annual Amount | 55864 |
| Additional Parcels Y/N | false |
| Virtual Tour | https://www.propertypanorama.com/instaview/stellar/TB8516925 |
| Building Area Units | Square Feet |
| Living Area Units | Square Feet |
| Standard Status | Active |
| Tax Lot | 1 |
| Legal Description | LOT 1 BLK 11 ST ARMANDS DIVISION |
| Water Access Y/N | false |
| Water View Y/N | false |
| Flood Zone Code | AE |
Interior Features
| Total Stories | 2 |
|---|---|
| Air Conditioning Y/N | true |
| LivingAreaSource | Public Records |
Exterior Features
| Lot Size Area | 5000 |
|---|---|
| Foundation Details | Slab |
| Number of Buildings | 1 |
| Building Area Total | 10000 |
| Lot Size Acres | 0.11 |
| Road Surface Type | Asphalt,Paved |
| Waterfront Y/N | false |
| Road Frontage Type | Access Road,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
Copyright © MFRMLS.com All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers 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 on this site was last updated Last updated on September 27, 2026 10:51 AM UTC The listing information on this page last changed on Last updated on September 27, 2026 10:51 AM UTCd. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of MFR MLS.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on September 27, 2026 10:51 AM UTC
The information being provided by Houston Association of REALTORS, Inc. is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Houston Association of REALTORS, Inc. This web site may reference real estate listing(s) held by a brokerage firm other
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© 2026 Greater Alabama MLS. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX content is not guaranteed accurate by the MLS or Numen Realty Advisors. Data last updated: September 27, 2026 10:29 AM UTC
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating