Mixed-Use Building with
New
For Sale
$3,750,000
1345 2ND, Sarasota, FL 34236
Commercial treatment space occupies the lower levels, with a four-bedroom residence above.
Property Size8,165 SF
Days on Market2
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Property Features for 1345 2ND
General Information
Standard status
Active
Size
8,165 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Commercial
Units
Unit Mix
1 x 4BR penthouse
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$45,110
Amenities
balcony
rooftop terrace
fireplace
wet bar
coffee station
wine fridge
chef's kitchen
floor-to-ceiling windows
soaring ceilings
Building Details
Building Size
8,165 SF
Year Built
2000
Buildings
1
Stories
3
Listing Agency:
Compass
Listed By:
Colby Lengel · License #3335175
(941) 779-6227
Source:
Elliman
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 1:54AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 2000, this three-story mixed-use building combines commercial space across its lower floors with a private residence on the upper level. The first floor has an open area and two bathrooms; it was previously configured as a salon with 12 stations, 6 wash stations, and 4 drying stations. The second floor contains 7 treatment rooms with plumbing, two bathrooms, an office, and a breakroom. A staircase and elevator connect the commercial levels.
The third-floor residence has four bedrooms, an open living and dining area, a kitchen, and a private balcony. A spiral staircase leads to a bedroom with an en-suite half-bath and a rooftop terrace. The residence is currently used as a short-term rental. The property also includes two assigned covered parking spaces and is located in downtown Sarasota.
The third-floor residence has four bedrooms, an open living and dining area, a kitchen, and a private balcony. A spiral staircase leads to a bedroom with an en-suite half-bath and a rooftop terrace. The residence is currently used as a short-term rental. The property also includes two assigned covered parking spaces and is located in downtown Sarasota.
Key Highlights
- Three‑story mixed‑use building constructed in 2000
- Second floor includes 7 treatment rooms with plumbing
- First floor previously configured with 12 salon stations, 6 wash stations, and 4 drying stations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$145,439
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,908,780
$2.9M
Cap Rate 7%
$2,077,700
$2.1M
Cap Rate 9%
$1,615,989
$1.6M
Market Conditions
NOI Build-Up for 8,165 SF
Gross rent
$245.0K $30.00/SF
− Vacancy
−$12.2K −$1.50/SF
EGI
$232.7K $28.50/SF
− OpEx
−$87.3K −$10.69/SF
NOI
$145.4K $17.81/SF
Area
Sarasota County, FL
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,908,780
Cap Rate 7%
$2,077,700
Cap Rate 9%
$1,615,989
Alternative Uses
Best Use
Mixed Use
$2.08M
$1.82M – $2.42M
NOI $145,439 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$1.06M
$929.5K – $1.24M
NOI $74,358 @ 7.0% cap · market cap 1.98%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,439 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
4,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial treatment space occupies the lower levels, with a four-bedroom residence above.
Where is this mixed-use property located?
The property is located at 1345 2ND Sarasota, FL.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Three‑story mixed‑use building constructed in 2000; Second floor includes 7 treatment rooms with plumbing; First floor previously configured with 12 salon stations, 6 wash stations, and 4 drying stations
