420 KUMQUAT COURT

Property Details

Description

Located in the dynamic Rosemary District, 420 Kumquat Court presents a compelling opportunity for investors and developers seeking position and flexibility in a downtown growth corridor. The property includes an existing triplex generating more than $5,000 per month in potential rental income, offering immediate cash flow while future development plans are evaluated. Zoned Downtown Edge (DTE), the site allows for residential, commercial or mixed-use development. The property is adjacent to Villa Ballada, a newly constructed five-story mixed use condominium featuring 24 residences, reinforcing the area’s continued investment and redevelopment momentum. An additional opportunity exists with the neighboring parcel to the south currently available. With a combined acquisition cost of $3,220,000, this option presents the potential for increased density, with the possibility to develop up to 24 residential units, subject to municipal approvals. The seller can also transfer plans for a seven-unit condominium project designed by award-winning Halflants + Pichette, providing a ready framework for development. Positioned within approximately six blocks of more than 60 restaurants, Sarasota Farmers Market, Sarasota Bayfront, Whole Foods Market and Sarasota’s arts and theater district, the location supports strong walkability and long-term demand. The Bay Park, a 53-acre waterfront park, is approximately four blocks away, with additional access to Payne Park and Legacy Trail. Connectivity is enhanced by the Bay Runner Trolley, offering service from downtown to St. Armands Circle and Lido Beach. This offering combines current income with future development potential in one of Sarasota’s most active urban districts.

Facts & Costs

Property type

Triplex

Current rent (total)

$4,600 / month

Gross income

$55,200 / year

Net income

$46,769 / year

Zoning

DTE

Year built

1981

Lot size

5,900 sq ft

Price per sq ft

$836

Days on market

170

Private pool

No

Waterfront

No

Community

Owen Burns Sub

Subdivision

ROSEMARY DISTRICT

County

Sarasota

Flood zone

X

Monthly & yearly costs

Property taxes

$7,860 / year (2025)

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

Construction & systems

Heating

Electric

Cooling

Wall/Window Unit(s)

Flooring

Carpet, Laminate, Tile

Roof

Shingle

Construction

Stucco

Parking

Driveway, Ground Level, Open

View

Trees/Woods

Payment Estimate

$8,366 / month

Principal & interest

$7,711

Property taxes

$655

HOA

$0

Home insurance

enter below

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

Features & Amenities

• Dishwasher
• Electric Water Heater
• Freezer
• Microwave
• Range
• Refrigerator
• Split Bedroom
• Vaulted Ceiling(s)
• Walk-In Closet(s)
• Window Treatments
• Lighting
• Screen Enclosure