Urban Infill Commercial
801 N Orange Avenue, Sarasota, FL 34236
For Sale
$24,500,000
Downtown Edge-zoned land within Sarasota’s Rosemary District, positioned for urban residential or mixed-use planning.
Property Size61,339 SF
Price / SF$399.42
Days on Market93
Property Features for 801 N Orange Avenue
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
MSC Commercial
Listed By:
Lee DeLieto, Jr.
(941) 323-0060
Source:
Msccommercial
Added: Aug 9
Changed: Nov 8
Last Checked: Nov 8 at 6:38AM
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 MSC Commercial
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Investment Insights
Based on property information with market context.
This approximately five-acre commercial land holding is currently improved as the Sarasota Military Academy campus. The contiguous site is zoned Downtown Edge (DTE) and falls within the Rosemary Residential Overlay District, which provides a density bonus mechanism for qualifying attainable housing components. The property is also positioned for consideration under Florida’s Live Local Act, subject to applicable requirements and approvals.
Located at 801 North Orange Avenue, the site is bounded by North Orange Avenue and sits a few blocks from downtown Sarasota’s cultural core and the Sarasota Bay waterfront. Conceptual sketch plans have been prepared for both a code-compliant scenario and a Live Local Act scenario, illustrating potential development configurations. The source information identifies multifamily and mixed-use redevelopment as potential planning directions, with the existing campus improvements providing the current site context.
Located at 801 North Orange Avenue, the site is bounded by North Orange Avenue and sits a few blocks from downtown Sarasota’s cultural core and the Sarasota Bay waterfront. Conceptual sketch plans have been prepared for both a code-compliant scenario and a Live Local Act scenario, illustrating potential development configurations. The source information identifies multifamily and mixed-use redevelopment as potential planning directions, with the existing campus improvements providing the current site context.
Key Highlights
- Approximately +/- five acres of contiguous commercial land
- Downtown Edge (DTE) zoning in the City of Sarasota
- Located within the Rosemary Residential Overlay District (RROD)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,092,601
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$21,852,020
$21.9M
Cap Rate 7%
$15,608,586
$15.6M
Cap Rate 9%
$12,140,011
$12.1M
Market Conditions
NOI Build-Up for 61,339 SF
Gross rent
$1.84M $30.00/SF
− Vacancy
−$92.0K −$1.50/SF
EGI
$1.75M $28.50/SF
− OpEx
−$655.6K −$10.69/SF
NOI
$1.09M $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%
$21,852,020
Cap Rate 7%
$15,608,586
Cap Rate 9%
$12,140,011
Alternative Uses
Best Use
Mixed Use
$15.61M
$13.66M – $18.21M
NOI $1,092,601 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$7.98M
$6.98M – $9.31M
NOI $558,611 @ 7.0% cap · market cap 2.28%
Theoretical Best
Office A
$17.43M
$15.25M – $20.34M
NOI $1,220,312 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
5,217
Businesses Nearby
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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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Market
Properties on Market for Commercial land in Sarasota
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Downtown Edge-zoned land within Sarasota’s Rosemary District, positioned for urban residential or mixed-use planning.
Where is this commercial land located?
The property is located at 801 N Orange Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $24,500,000.
What are key features of this property?
This property features: Approximately +/- five acres of contiguous commercial land; Downtown Edge (DTE) zoning in the City of Sarasota; Located within the Rosemary Residential Overlay District (RROD)
