1565 STATE STREET

SARASOTA, FL 34236

Listing courtesy of RE/MAX ALLIANCE GROUP · MLS# A4683759

$5,900,000

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Property Details

Building size

13,076 sq ft

Lot size

0.36 acres

Zoning

DTC

MLS#

A4683759

Listed

February 24, 2026

Description

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.

Facts & Costs

Property type: Mixed Use
Building size: 13,076 sq ft
Zoning: DTC
Road frontage: Alley, City Street
Year built: 1921
Lot size: 0.36 acres
Stories: 2
Price per sq ft: $467
Days on market: 218
Waterfront: No
Subdivision: PLAT OF SARASOTA EXHIBIT
County: Sarasota
Flood zone: X

Monthly & yearly costs

Property taxes: $42,149 / year (2025)

As reported by the listing agent. Verify with the HOA and county.

Construction & systems

Construction: Block, Brick

Payment Estimate

$33,346 / month

Principal & interest: $29,834
Property taxes: $3,512
HOA: $0
Home insurance: enter below

Down payment (20%)$1,180,000Interest rate (%)Loan termHome insurance ($/year)

Estimate only, not a loan offer. Rate is a starting value; taxes and HOA are as reported by the listing agent. Florida insurance (including flood) varies widely. Ask George for a lender referral.

Location

Information deemed reliable but not guaranteed.

Listings courtesy of Stellar MLS as distributed by MLS GRID

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