6595 Midnight Pass RdSarasota, FL 34242

Property Details for 6595 Midnight Pass Rd

Year built

1975

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.92 AC

Property size (Sq ft)

9,053 SF

Zone code

SKOD; CG

Property type

Investment properties

Property subtype

Live-work space

APN

0108-09-0015

APU

108090015

Description

This exceptional 102,530 square foot retail space presents a rare opportunity on Siesta Key, Sarasota County, Florida. Located in Crescent Plaza, this single-tenant property boasts an unparalleled location directly across the street from the renowned Siesta Key Beaches, ensuring high foot traffic and visibility. Built in 1975, the building offers a flexible, open floor plan, ideal for a variety of retail or office uses. To enhance the property's appeal and modernize its street presence, the landlord is committed to updating the building frontage with a new storefront, creating a contemporary and inviting retail experience. The property's convenient location within a walkable plaza attracts both locals and tourists, providing a strong customer base. This significant retail space offers substantial potential for businesses seeking a high-traffic, prime location on one of Florida's most desirable beaches. The sheer size of the space presents a unique opportunity for a large-scale retail operation or a business requiring significant square footage. This is a truly exceptional offering in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,941,410

  6.5%

  $2,715,150

  7%

  $2,521,210

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,839,320

  Geo Method

  $1,686,420

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,144,380

  Retail / Commercial

  $2,686,510

  Hospitality / Lodging

  $2,041,780

  Office

  $2,738,830

  Institutional / Educational

  $2,836,320

  Residential Income

  $3,318,500

  Multifamily

  $3,768,160

  Automotive / Energy

  $2,431,130

  Parking / Income-Based Land

  $801,196

  Restaurant / Food Service

  $1,493,730

  Healthcare / Senior Housing

  $2,745,140

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.2502

Longitude

-82.5333

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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