Ad #7851697
MLS #TB8516925
Rare Mixed-Use Investment & Redevelopment Opportunity Unique
40 S BLVD OF THE PRESIDENTS, Sarasota, FL 34236
$9,700,000
--Beds
--Baths
9,313Sqft
0.11Acres
About this property
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 Features
0 Beds
0 Baths
9,313 Sqft
Built in 1964
0.11 Acres
Siding: Brick, Concrete, Frame
Built-Up Roof
$55,864 / yr property tax
Sarasota County
SAINT ARMANDS DIV JOHN RINGLING ESTATES Community
Additional Photos
Contact Information
Patricia Maxey
LPT Realty, LLC.
541-816-6966
Location
Listing Agent: Patricia Maxey (License #: 3527244) 541-816-6966
Broker: LPT Realty, LLC. 877-366-2213 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: LPT Realty, LLC. 877-366-2213 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
BeachHouse.com
Printed Aug 11, 2026
Photo Gallery
$9,700,000
--
Beds
--
Baths
9,313
Sqft
40 S BLVD OF THE PRESIDENTS, Sarasota, FL 34236
By contacting this agent you agree to these Terms and Conditions.
MLS# TB8516925
Rare Mixed-Use Investment & Redevelopment Opportunity Unique
$9,700,000
40 S BLVD OF THE PRESIDENTS, Sarasota, FL 34236
--
Beds
--
Baths
9,313
Sqft
0.11
Acres
$9,700,000
40 S BLVD OF THE PRESIDENTS, Sarasota, FL 34236
-- Beds
-- Baths
9,313 Sqft
0.11 Acres
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.
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Property Details
HOME DETAILS
0 Beds
0 Baths
9,313 Sqft
Built in 1964
0.11 Acres
EXTERIOR
Siding: Brick, Concrete, Frame
Built-Up Roof
FINANCIAL & COMMUNITY
$55,864 / yr property tax
Sarasota County
SAINT ARMANDS DIV JOHN RINGLING ESTATES Community
See More Details
Location
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Ad Statistics
Ad Number
7851697
Viewed
82 times
Listing Status
Active
Added
Jun 08, 2026
Last Refreshed
Jul 03, 2026 06:17:28 PM
Listing Information
Data Source
Stellar MLS
Source Property ID
TB8516925
Listing Agent: Patricia Maxey (License #: 3527244) 541-816-6966
Broker: LPT Realty, LLC. 877-366-2213 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Broker: LPT Realty, LLC. 877-366-2213 Listing Site
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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