240 Pineapple AveSarasota, FL 34236

Property Details for 240 Pineapple Ave

Year built

1989

Lot size

0.84 AC

Property size (Sq ft)

139,233 SF

Zone code

DTC

Property type

Office properties

Property subtype

Office buildings

APN

2027-06-0055

APU

2027060055

Description

This exceptional 11-story, Class A office building, totaling 139,567 square feet, presents a unique investment opportunity in Sarasota's vibrant downtown. Located at 240 S Pineapple Ave, this multi-tenant property offers 10 available spaces ranging from 1,471 to 10,161 square feet. Recently enhanced with a $4 million upgrade, the building showcases contemporary design, elegant finishes, and state-of-the-art security systems, complemented by environmentally conscious practices. Its prime location within Sarasota's central business district provides unparalleled convenience, situated adjacent to the Aloft hotel and within walking distance of upscale dining, retail establishments, and Whole Foods. Across the street, the new "The Mark" condo complex adds to the area's dynamic atmosphere with over 25,000 square feet of retail and office space. Boasting a walkability score of 96, the property also offers ample parking. The building is zoned DLC and its Sarasota County APN is 2027-06-0055. This property is situated in the Tampa-St. Petersburg-Clearwater submarket, offering excellent access to major transportation routes and a thriving business community. This is a rare chance to acquire a premier office building in a high-demand location.

• CAP approach

  CAP return

  Valuation

  6%

  $36,932,968

  6.5%

  $34,091,968

  7%

  $31,656,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $27,931,476

  Geo Method

  $25,428,122

• Alternative Use

  Use

  Valuation

  Residential

  $42,274,040

  Hospitality

  $38,722,796

  Educational

  $32,216,910

  Medical

  $33,324,900

  Retail

  $50,115,196

Location Insight

City

Sarasota

County

Sarasota

State

Florida

Latitude

27.3343

Longitude

-82.5409

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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