About This Home
This 0-bedroom, 0-bathroom commercial at 1565 STATE STREET in Sarasota, FL is listed for $5,900,000 ($467 per sqft). Built in 1921, the home offers 12,626 sqft of living space on a 0.36 acres lot.
Key Features
- Built in 1921
- 0.36 acre lot
Property Details
Large parcel in the heart of dowtown, with 15 on site parking paces (incredibly rare) and a city parking garage directly across the street.
The 13,000 SF building has been gutted and is ready to be finished off or re developed. Zoning is DTC (Downtown Core) allowing 10 stories at 50 units per acre or 18 residential units. Density Bonus: The City of Sarasota, to encourage Attainable Housing, has created an Attainable Housing Density Bonus” AHDB” entitlement option for DTC, DTB and DTE zoned properties. The AHDB offers up to 4-times the entitled residential density provided 15% of the “bonus” units are “attainable”. Base residential density for the subject is 18-units; under the AHDB the subject is entitled to 72-units provided 8-units “attainable” and 64 may be market rate. “Attainable” is defined that rent or sales price does not exceed 30% of the AMI (area medium income). Currently AMI for the City of Sarasota is approximately $80,000 per year.
Monthly Cost Estimate
$31,554/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
1565 STATE STREET
Sarasota, FL 34236
PLAT OF SARASOTA EXHIBIT
Property Details
Construction
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 1565 STATE STREET is listed at $5,900,000 ($467/sqft). The estimated monthly payment is $31,555 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1921, 0.36 acre lot.
This property is listed by Tom Cail, PA and can be reached at 9417802245.
