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    DTN-Zoned Double Lot Development Site Title is generated by Realmo AI

    1721 8TH STREET, Sarasota, FL 34236

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    For Sale
    $650,000

    Land - SARASOTA, FL

    Property size:
    9,200 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $70/SF
    Added:
    Jun 1, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 5 at 10:06 am

    Property Features for 1721 8TH STREET

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    DTN
    Standard status
    Active
    APN
    2026020107
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    4764

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Beverly Perez
    Beverly Perez

    Listing agent Beverly Perez License #3080998

    Listing office FINE PROPERTIES 5220 Paylor Lane, SARASOTA, FL

    Listing date Jun 1, 2026

    MLS# A4695998 Listing URL

    Copyright © 2026 Sarasota Association of Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 9,200 SF double lot in Downtown Sarasota on DTN (Downtown Neighborhood) zoning
    • Steps from the 10‑acre Gillespie Park, with nearby walkable amenities and recreation areas
    • No HOA and no deed restrictions, providing flexibility for residential development
    • Only 0.7 miles from Sarasota Bay and The Bay waterfront park
    • Adjacent home also available; combined lots total about 19,200 SF (0.44 acres) as an assemblage

    Overview

    This offering is a double lot totaling approximately 9,200 SF, presented as a flexible residential development site. The property is offered with no HOA and no deed restrictions, and it is zoned DTN (Downtown Neighborhood). The listing also notes potential benefits under Florida’s Live Local Act, supporting a range of residential development options.

    The site is located just steps from Gillespie Park, a 10-acre park. The area is within walking distance of downtown Sarasota restaurants, galleries, shopping, and entertainment, and the listing indicates proximity to Sarasota Bay and The Bay waterfront park.

    For builders, developers, and owner-users seeking Downtown Sarasota infill land, the DTN zoning and lack of HOA/deed restrictions can help simplify planning for a residential project. The listing further states that an adjacent home is also available for purchase, and that combining the properties would create four contiguous lots totaling approximately 19,200 SF (0.44 acres), which may be useful for users looking to pursue a larger assemblage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.536034
    Latitude
    27.343317

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    FAQs

    What type of property is this?
    Residential land & home lot - DTN-zoned double lot with no HOA for flexible residential development near Gillespie Park.
    Where is this residential land & home lot located?
    The property is located at 1721 8TH STREET Sarasota, FL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: 9,200 SF double lot in Downtown Sarasota on DTN (Downtown Neighborhood) zoning; Steps from the 10‑acre Gillespie Park, with nearby walkable amenities and recreation areas; No HOA and no deed restrictions, providing flexibility for residential development
    (941) 782-0000
    We can help!
    Listing Contact
    Beverly Perez
    Beverly Perez
    Real Estate License ID: 3080998
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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