Property profile

240 N Washington Blvd Sarasota, FL 34236

FOR LEASE
Office buildings
Property ID
US18-1861380
52,413 SF 0.78 ac lot Built 1974
Entity Owned Free & Clear
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Property summary

AI-generated overview

A freestanding seven-story office building is located on the corner of US 301 and Fruitville at the entrance to downtown Sarasota, positioned on a lighted intersection with heavy traffic and skyline views. The property contains more than 50,000 square feet of leasable space and features prominent exterior signage. The ground level is configured for retail use, with an existing bank tenancy. Floors 3 through 7 include an indoor atrium that is intended to provide natural light through exterior and interior windows. The third floor is arranged as an executive suite with large private offices, shared conference areas, and a kitchenette, with direct access to the atrium. Floors 4 and 5 are divided into office suites sized approximately 500 to 1,200 square feet. The sixth and seventh floors (penthouse level) provide large open-plan spaces suited to single-user occupancy. The property has been subject to ownership and operational updates with interior improvements planned, and the surrounding area is experiencing or planned for additional development including residential, hotels, retail, and office uses.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1974
Construction FRAME
Total area 52,413 SF
Lot 0.78 ac (33,971 SF)
Zoning code DTC
APN 2026-16-0011
UPID US18-1861380

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Loan Service Bank
  • Advertising Agency Marketing & Advertising
  • Physician Medical Clinic
  • Business Management Consultant
  • Electronics & Wireless Store Discount Store

Location

240 N Washington Blvd Sarasota, FL 34236
Sarasota metro Census 102 NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$10.72M
CAP Approach CAP
$12.54M
Comparable Approach Comparable
$8.42M
Blend (final) Blend
$15.71M

Owner & transaction history

since 2026
Last sale
$7.9M
6 recorded transactions
2026
$7.9M
2025
$5.9M
2022
$11.8M
2008
Price N/A
2004
$6.2M
2000
$3.3M

Zoning & alternative use

DTC · Sarasota, FL
Zoning description

screening between registered vacation rentals and single family uses; modify the definition for restaurants and add language to facilitate outdoor restaurants and seating; permit mobile food trucks as a permitted use in…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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