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Property profile & analytics
FOR SALE
Community centers

1993 Main St Sarasota, FL 34236

91,553 SF 2.9 ac lot Built 1997
Entity Owned 10-yr Hold Absentee Owner Free & Clear
Property ID
US18-5544669
Property summary
AI-generated overview

This exceptional 3.25-acre property at 1993 Main St, Sarasota, FL 34236, presents a prime redevelopment opportunity in Sarasota's vibrant downtown core. Currently featuring a vacant 104,506 square foot storefront building constructed in 1997, this site offers significant potential for mixed-use development, including hotel, condominium, office, or retail uses, or a combination thereof. The property is zoned DTC - Downtown Core and includes an existing 75,000 square foot building on a 2-acre portion of the site, currently generating $1.55 million in annual revenue. A separate 1.25-acre parcel is available for immediate development. The property boasts excellent visibility and accessibility, with frontage on Main Street (US-301) and Fruitville Road, benefiting from high pedestrian and vehicular traffic. An easement provides access to 211 parking spaces in an adjacent garage. Further enhancing its appeal, 20-foot wide sidewalks are being added to Main Street, and the area is experiencing significant redevelopment activity. This is an exceptional land bank opportunity with superior ingress and egress, facilitated by access to four lighted intersections. APN: 2027010005 & 2027010006. Offers are being accepted until June 22nd.

Property profile
Verified
Property type Community centers
Use group MINI-MALL
Year built 1997
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 91,553 SF
Lot 2.9 ac (126,305 SF)
Zoning code DTC
APN 2027-01-0005
UPID US18-5544669
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Regal Hollywood - Sarasota Cinema Theater & Performing Art Venue
  • puvlix Grocery & Convenience Store Food Market
  • Regal Grill Bar & Pub Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$13.31M
Owner & transaction history
Bbc Plaza LLC · 10 yrs held
Bbc Plaza LLC
since 2015
2 recorded transactions
2015
$18.1M
2005
$40.0M
Zoning & alternative use
DTC · Sarasota, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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