1993 Main StSarasota, FL 34236

Property Details for 1993 Main St

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.90 AC

Property size (Sq ft)

91,553 SF

Zone code

DTC

Property type

Retail properties

Property subtype

Community centers

APN

2027-01-0005

APU

2027010005

Description

This exceptional 3.25-acre property at 1993 Main St, Sarasota, FL 34236, presents a prime redevelopment opportunity in Sarasota's vibrant downtown core. Currently featuring a vacant 104,506 square foot storefront building constructed in 1997, this site offers significant potential for mixed-use development, including hotel, condominium, office, or retail uses, or a combination thereof. The property is zoned DTC - Downtown Core and includes an existing 75,000 square foot building on a 2-acre portion of the site, currently generating $1.55 million in annual revenue. A separate 1.25-acre parcel is available for immediate development. The property boasts excellent visibility and accessibility, with frontage on Main Street (US-301) and Fruitville Road, benefiting from high pedestrian and vehicular traffic. An easement provides access to 211 parking spaces in an adjacent garage. Further enhancing its appeal, 20-foot wide sidewalks are being added to Main Street, and the area is experiencing significant redevelopment activity. This is an exceptional land bank opportunity with superior ingress and egress, facilitated by access to four lighted intersections. APN: 2027010005 & 2027010006. Offers are being accepted until June 22nd.

• CAP approach

  CAP return

  Valuation

  6%

  $35,699,484

  6.5%

  $32,953,368

  7%

  $30,599,556

• Comparable approach

  Method

  Valuation

  Relative Method

  $46,283,352

  Geo Method

  $42,135,216

• Alternative Use

  Use

  Valuation

  Residential

  $27,797,400

  Hospitality

  $25,462,268

  Educational

  $21,184,308

  Medical

  $21,912,870

  Retail

  $32,953,368

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3374

Longitude

-82.5315

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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