1256 5Th StSarasota, FL 34236

Property Details for 1256 5Th St

Property type

Dormitories

Property subtype

Student housing

Description

Exceptional investment opportunity in Sarasota, Florida, presents a 7-unit multifamily property comprising three parcels totaling 21,000 square feet. Currently zoned Downtown Edge (DTE), the property is eligible for rezoning to Downtown Core (DTC), unlocking significant redevelopment potential. The existing structures, located at 1256 5th Street and 1259-1271 4th Street, are older and sold as-is. The asking price is $5,950,000, representing $850,000 per unit. This prime location benefits from its proximity to the Blvd Condominiums and Sarasota Modern Hotel, situated within a rapidly evolving neighborhood primed for luxury condominium development. A unique sale leaseback agreement is offered for an initial three-year term, providing a stable income stream post-closing. The property's three parcels include APNs 2026-12-0054, 2026-12-0067, and 2026-12-0068, situated in Sarasota County, Florida, zip code 34236. This presents a compelling opportunity for investors seeking both immediate income and long-term appreciation in a high-growth area. The seller makes no warranty of condition. The leaseback is solely for artist housing.

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3403

Longitude

-82.5457

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