Downtown Sarasota Multifamily
2101 Main St, Sarasota, FL
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Multifamily property in downtown Sarasota, offering a metropolitan lifestyle.
Type:MULTIFAMILY
Property size:
11,485 SFLot size:
0.29 AcresPrice / SF:
$169/SF- Added:
- Jan 29, 2024
- Days on Market:
- 855
- Last Refresh:
- May 20 at 8:43 pm
Property Features for 2101 Main St
General Information
- Standard status
- Active
- Size
- 11,485 SF
- Lot size
- 0.29 Acres
- Property subtype
- MULTIFAMILY
Listing agent Benjamin Bakker, CCIM License #3279071 (941) 724-8009
Listing office NDC Commercial Real Estate (941) 724-8009
Listing date Jan 29, 2024
Source Moodyscre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of NDC Commercial Real Estate
HighLights
- Central downtown location offers convenient access to city amenities and attractions.
- Rich in culture, nightlife, fine dining, shopping, and entertainment.
- Plentiful condominium options available.
- Close proximity to banking, finance, law firms, and business consultants.
- Walking distance to destination shopping, world‑class dining, opera, ballet, and theater venues.
- Historic and charming single‑family homes are available.
Overview
Located on the north side of Main Street in downtown Sarasota, just east of the 301 N/S thoroughfare, this multifamily property offers convenient access to the city's amenities. The property is situated in the heart of Sarasota's banking and finance district, near law firms, real estate offices, architectural firms, and business consultants. It is also located near Sarasota Memorial Hospital, a new police and justice center, the county courthouse, the county office building, and the main post office. The surrounding area features historic churches, a large public library, galleries, restaurants, theaters, and shops. This property is suitable for those seeking a metropolitan lifestyle, with culture, nightlife, fine dining, shopping, and entertainment options nearby. Residents can enjoy destination shopping, world-class dining, and venues for opera, ballet, and theater. The property offers a central location and convenient access to the city's attractions while maintaining a small-town Florida charm. The property size is 11,485 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $267.4k | $23.28 |
| − Vacancy | −$14.7k | −$1.28 |
| EGI | $252.7k | $22.00 |
| − OpEx | −$113.7k | −$9.90 |
| NOI | $139.0k | $12.10 |
11,485 SF · lease $23.28/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.99M
$1.74M – $2.32M
NOI $138,966 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.38M
$2.96M – $3.94M
NOI $236,416 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Sarasota
- County
- Manatee
- State
- Florida
- Longitude
- -82.5281
- Latitude
- 27.3367
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property in downtown Sarasota, offering a metropolitan lifestyle.
Where is this apartment building located?
The property is located at 2101 Main St Sarasota, FL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Central downtown location offers convenient access to city amenities and attractions.; Rich in culture, nightlife, fine dining, shopping, and entertainment.; Plentiful condominium options available.
