$9,690,000

About this home

Rare Mixed-Use Investment & Redevelopment Opportunity Unique in its kind and virtually impossible to replicate, this prominent 10,000 SF mixed-use commercial asset is located within the one and only St. Armands Key district, one of the most exclusive and supply-constrained retail and dining destinations on Florida’s Gulf Coast. Positioned on a highly visible corner lot with three street frontages, the property combines stabilized income with exceptional long-term redevelopment potential. The ground floor is currently leased to an operating restaurant under a five-year lease commenced August 2025, providing immediate income to the new owner. The second floor offers flexible office, hospitality, or repositioning opportunities. Constructed of reinforced concrete, steel, and glass, the structure was originally engineered to support vertical expansion. The city has already approved one additional 5,000 SF level, with potential for further expansion subject to review and approval. ? Investment Highlights 10,000 SF two-story commercial building Corner property with three street frontages Stabilized income component Flexible second-floor configuration Approved vertical expansion Air rights / redevelopment upside Reinforced concrete and steel construction Rare St. Armands Key location Hurricane-resilient structure Rear loading and unloading area Direct owner offering Air Rights & Vertical Expansion The current building height is approximately 22 feet. The city has already approved one additional 5,000 SF level, and the structure was originally engineered to support up to six stories, subject to future review and approval. This creates a rare opportunity for long-term redevelopment and value creation in one of Sarasota’s most desirable island markets.

Property details

MLS #

MFRTB8516925

Property type

Mixed Use

Subdivision

SAINT ARMANDS DIV JOHN RINGLING ESTATES

Status

Active

Days on market

84

On market date

June 8, 2026

Stories

N/A

Total bathrooms

N/A

Garage spaces

N/A

Parking spaces

N/A

Lot size

0.11 acres

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).