Two-Story Mixed-Use Corner
40 S BLVD OF THE PRESIDENTS Sarasota, FL 34236
For Sale
$9,700,000
Corner commercial building with three street frontages, leased restaurant ground floor, and flexible second-floor office or hospitality space.
Property Size9,313 SF
Price / SF$1,041
Days on Market52
Property Features for 40 S BLVD OF THE PRESIDENTS
General Information
Standard status
Active
Size
9,313 SF
Property subtype
Commercial
Building Details
Year Built
1964
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
PATRICIA MAXEY · License #3527244
Source:
Corcoran
Added: Jun 8
Changed: Jul 10
Last Checked: Jul 29 at 1:36PM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
This two-story mixed-use commercial property totals about 10,000 SF and is constructed of reinforced concrete, steel, and glass. The ground floor is leased to an operating restaurant under a five-year lease commenced August 2025. The second floor is configured to allow flexibility for office use, hospitality, or other repositioning options.
The building sits on a highly visible corner lot with three street frontages in the St. Armands Key district of Sarasota, Florida. The property includes a rear loading and unloading area. The existing building height is approximately 22 feet.
From a tenant and operator standpoint, the stabilized restaurant tenancy on the ground floor can support a mixed-use plan while keeping upper-level space adaptable to changing needs. For buyers pursuing redevelopment, the structure was originally engineered to support vertical expansion, and the city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. This is a direct owner offering for a rare, supply-constrained mixed-use redevelopment scenario in the St. Armands Key market.
The building sits on a highly visible corner lot with three street frontages in the St. Armands Key district of Sarasota, Florida. The property includes a rear loading and unloading area. The existing building height is approximately 22 feet.
From a tenant and operator standpoint, the stabilized restaurant tenancy on the ground floor can support a mixed-use plan while keeping upper-level space adaptable to changing needs. For buyers pursuing redevelopment, the structure was originally engineered to support vertical expansion, and the city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. This is a direct owner offering for a rare, supply-constrained mixed-use redevelopment scenario in the St. Armands Key market.
Key Highlights
- 10,000 SF two‑story mixed‑use commercial building on a corner lot with three street frontages
- Ground‑floor operating restaurant is leased under a five‑year lease commenced August 2025
- Second floor offers flexible space for office or hospitality use, with repositioning potential
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Corner commercial building with three street frontages, leased restaurant ground floor, and flexible second-floor office or hospitality space.
Where is this conventional restaurant located?
The property is located at 40 S BLVD OF THE PRESIDENTS Sarasota, FL.
What is the asking price?
The asking price for this property is $9,700,000.
What are key features of this property?
This property features: 10,000 SF two‑story mixed‑use commercial building on a corner lot with three street frontages; Ground‑floor operating restaurant is leased under a five‑year lease commenced August 2025; Second floor offers flexible space for office or hospitality use, with repositioning potential
