Mixed-Use Property with
For Sale
$3,985,000
2160 GULF GATE, Sarasota, FL 34231
Commercial space with a recently completed two-bedroom apartment and flexible live-work configuration.
Property Size10,273 SF
Price / SF$387.91
Days on Market47
Property Features for 2160 GULF GATE
General Information
Standard status
Active
Size
10,273 SF
Property subtype
Commercial
Additional Details
Frontage
85 ft
Taxes and HOA fees
Annual Taxes
$19,176
Amenities
generator
Flood Zone X
Building Details
Building Size
10,273 SF
Year Built
1970
Units
5
Construction
concrete
Listing Agency:
GENEROUS PROPERTY
Listed By:
Mark Lyda · License #3400771
(941) 586-2670
Source:
Elliman
Added: Sep 14
Changed: Oct 26
Last Checked: Oct 28 at 8:26AM
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 GENEROUS PROPERTY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10,273 SF mixed-use property combines substantial commercial space with a recently completed second-story apartment of nearly 2000sf. The residence includes 2 Bedrooms, 1 Full and 1 Half Bathrooms, a kitchen with quartz countertops and stainless-steel appliances, a dedicated laundry room, and additional living area. The commercial portion has concrete construction, multiple access doors, portions with two-story ceilings, and a generator. Flood Zone X is also identified.
Approximately 85 feet of frontage supports the property’s presence along Gulf Gate in South Sarasota, near the US 41 (Tamiami Trail) and CR72 (Clark Road) crossroads. The surrounding district includes walkable streets, independent shops, international restaurants, and neighborhood nightlife. The site was built in 1970 and previously housed an aquarium and pet center, providing a documented connection to specialty retail and related commercial uses.
Approximately 85 feet of frontage supports the property’s presence along Gulf Gate in South Sarasota, near the US 41 (Tamiami Trail) and CR72 (Clark Road) crossroads. The surrounding district includes walkable streets, independent shops, international restaurants, and neighborhood nightlife. The site was built in 1970 and previously housed an aquarium and pet center, providing a documented connection to specialty retail and related commercial uses.
Key Highlights
- 10,273 SF mixed‑use commercial property
- Recently completed second‑story apartment of nearly 2000sf
- Apartment includes 2 Bedrooms, 1 Full and 1 Half Bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$182,988
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,659,760
$3.7M
Cap Rate 7%
$2,614,114
$2.6M
Cap Rate 9%
$2,033,200
$2.0M
Market Conditions
NOI Build-Up for 10,273 SF
Gross rent
$308.2K $30.00/SF
− Vacancy
−$15.4K −$1.50/SF
EGI
$292.8K $28.50/SF
− OpEx
−$109.8K −$10.69/SF
NOI
$183.0K $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%
$3,659,760
Cap Rate 7%
$2,614,114
Cap Rate 9%
$2,033,200
Alternative Uses
Best Use
Mixed Use
$2.61M
$2.29M – $3.05M
NOI $182,988 @ 7.0% cap · market cap 4.59%
Second Best
Retail
$2.29M
$2.01M – $2.68M
NOI $160,505 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$2.92M
$2.55M – $3.41M
NOI $204,377 @ 7.0% cap · market cap 5.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,537
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space with a recently completed two-bedroom apartment and flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 2160 GULF GATE Sarasota, FL.
What is the asking price?
The asking price for this property is $3,985,000.
What are key features of this property?
This property features: 10,273 SF mixed‑use commercial property; Recently completed second‑story apartment of nearly 2000sf; Apartment includes 2 Bedrooms, 1 Full and 1 Half Bathrooms
