40 BLVD OF THE PRESIDENTS

Property Details

Description

Rare Mixed-Use Investment & Redevelopment Opportunity Unique in its kind and virtually impossible to replicate, this prominent 10,000 SF mixed-use commercial asset is located within the one and only St. Armands Key district, one of the most exclusive and supply-constrained retail and dining destinations on Florida’s Gulf Coast. Positioned on a highly visible corner lot with three street frontages, the property combines stabilized income with exceptional long-term redevelopment potential. The ground floor is currently leased to an operating restaurant under a five-year lease commenced August 2025, providing immediate income to the new owner. The second floor offers flexible office, hospitality, or repositioning opportunities. Constructed of reinforced concrete, steel, and glass, the structure was originally engineered to support vertical expansion. The city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. ? Investment Highlights 10,000 SF two-story commercial building Corner property with three street frontages Stabilized income component Flexible second-floor configuration Approved vertical expansion Air rights / redevelopment upside Reinforced concrete and steel construction Rare St. Armands Key location Hurricane-resilient structure Rear loading and unloading area Direct owner offering Air Rights & Vertical Expansion The current building height is approximately 22 feet. The city has already approved one additional 5,000 SF level, and the structure was originally engineered to support up to six stories, subject to future review and approval. This creates a rare opportunity for long-term redevelopment and value creation in one of Sarasota’s most desirable island markets.

Facts & Costs

Property type

Mixed Use

Building size

10,000 sq ft

Zoning

CT

Road frontage

Access Road, Alley, City Street

Year built

1964

Lot size

5,000 sq ft

Stories

2

Price per sq ft

$1,040

Days on market

115

Waterfront

No

Subdivision

SAINT ARMANDS DIV JOHN RINGLING ESTATES

County

Sarasota

Flood zone

AE

Monthly & yearly costs

Property taxes

$55,864 / year (2024)

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

Construction & systems

Cooling

Central Air

Roof

Built-Up

Construction

Brick, Concrete, Metal Frame

Payment Estimate

$53,653 / month

Principal & interest

$48,998

Property taxes

$4,655

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