1990 Main StSarasota, FL 34236

Property Details for 1990 Main St

Year built

1926

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.11 AC

Property size (Sq ft)

22,500 SF

Zone code

DTC

Property type

Office buildings

APN

2027-01-0084

APU

2027010084

Description

Courthouse Centre, located at 1990 Main Street in Sarasota, Florida 34236, offers a prime leasing opportunity. This Class A office building, constructed in 2004, boasts 93,756 square feet of space and currently has 33,185 contiguous square feet available for lease on the 8th floor. The space is highly adaptable and can be subdivided to accommodate tenants' specific needs, with a minimum leasable area of 3,000 square feet. The building's strategic downtown location at the busy intersection of US-301 and Ringling Boulevard provides excellent visibility and accessibility. Ample parking is available with a generous 3:1000 ratio included in the rent, and an overall ratio of approximately 4.2:1000. The property also offers unique branding opportunities with naming rights on the top floor exterior. The building is suitable for traditional office, executive office, and medical office uses. This is a rare opportunity to secure a highly visible and adaptable space in a thriving Sarasota location.

• CAP approach

  CAP return

  Valuation

  6%

  $5,968,354

  6.5%

  $5,509,250

  7%

  $5,115,732

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,513,716

  Geo Method

  $4,109,175

• Alternative Use

  Use

  Valuation

  Residential

  $6,831,469

  Hospitality

  $6,257,589

  Educational

  $5,206,240

  Medical

  $5,385,291

  Retail

  $8,098,596

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.336

Longitude

-82.5315

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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