$5,900,000
1565 STATE ST, Sarasota, FL 34236
Commercial
For Sale
12,626
Sq Ft
1921
Year Built
Description
Large parcel in the heart of dowtown, with 15 on site parking paces (incredibly rare) and a city parking garage directly across the street. The 13,000 SF building has been gutted and is ready to be finished off or re developed. Zoning is DTC (Downtown Core) allowing 10 stories at 50 units per acre or 18 residential units. Density Bonus: The City of Sarasota, to encourage Attainable Housing, has created an Attainable Housing Density Bonus” AHDB” entitlement option for DTC, DTB and DTE zoned properties. The AHDB offers up to 4-times the entitled residential density provided 15% of the “bonus” units are “attainable”. Base residential density for the subject is 18-units; under the AHDB the subject is entitled to 72-units provided 8-units “attainable” and 64 may be market rate. “Attainable” is defined that rent or sales price does not exceed 30% of the AMI (area medium income). Currently AMI for the City of Sarasota is approximately $80,000 per year.
Listing courtesy of Tom Cail, PA, RE/MAX ALLIANCE GROUP
Listing data courtesy of Stellar MLS as distributed by MLS Grid. The data relating to real estate for sale or lease on this website comes in part from the Internet Data Exchange (IDX) program of Stellar MLS. Listings held by brokerage firms other than HauzMart Realty are marked with the listing brokerage's name. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Information is deemed reliable but not guaranteed and should be independently verified. © Stellar MLS. All rights reserved.
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Data courtesy of Stellar MLS as distributed by MLS Grid as of Feb 25, 2026, 1:31 AM ET
