40 S BLVD OF THE PRESIDENTS
Sarasota, FL 34236
$9,450,000
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.
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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.
Listing Courtesy of: LPT REALTY, LLC
877-366-2213
| Listing Id: | TB8516925 |
|---|---|
| List Price: | $9,450,000 |
| Property Type: | Commercial Sale |
| Property Sub Type: | Mixed Use |
| Status: | Active |
| Living Area: | 9,313 |
| Tax Annual Amount: | $55,864 |
| Lot Size Square Feet: | 5,000 |
| Lot Size Acres: | 0.11 |
| Waterfront?: | No |
| City: | Sarasota |
| County Or Parish: | Sarasota |
| Subdivision Name: | Saint Armands Div John Ringling Estates |
| Postal Code: | 34236 |
| Year Built: | 1964 |
| Additional Parcels?: | No |
| Building Area Source: | Public Records |
| Building Area Total: | 10000 |
| Building Area Units: | Square Feet |
| Foundation Details: | Slab |
| Construction Materials: | Brick, Concrete, Metal Frame |
| Cooling: | Central Air |
| Directions: | From the roundabout at Fruitville Rd. and N. Tamiami Trail, take the third exit onto N. Tamiami Trail. Turn West onto Gulfstream Ave. This road becomes John Ringling Causeway. At St. Armand's Cir., take the third exit onto Blvd. of the Presidents. Subject is the last building, corner unit. |
| Ownership: | Fee Simple |
| Living Area Source: | Public Records |
| Living Area Units: | Square Feet |
| Lot Size Acres: | 0.11 |
| Postal Code Plus4: | 1424 |
| MLS Area Major: | 34236 - Sarasota |
| MLS Area Major: | 34236 - Sarasota |
| Original List Price: | $9,700,000 |
| Parcel Number: | 2014050106 |
| Stories Total: | 2 |
| Township: | 36S |
| Road Frontage Type: | Access Road, Alley, City Street |
| Road Surface Type: | Asphalt, Paved |
| Roof: | Built-Up |
| Tax Year: | 2024 |
| Special Listing Conditions: | None |
| State Or Province: | FL |
| Public Survey Range: | 17E |
| Public Survey Section: | 26 |
| Zoning: | CT |
| Building Features: | Bathrooms, Elevator, Kitchen Facility, Ramp |
| Building Area Total Srch Sq M: | 929.03 |
| Calculated List Price By Calcula: | 945.00 |
| Flood Zone Code: | AE |
| Flood Zone Panel: | 12115C0129F |
| Green Verification Count: | 0 |
| Living Area Meters: | 865.21 |
| Lot Size Square Meters: | 465 |
| Sdeo yn: | No |
| Total Acreage: | 0 to less than 1/4 |
| Total Num Buildings: | 1 |
| Unit Number Yn: | No |
| Water Access Yn: | No |
| Water Extras Yn: | No |
| Water View: | No |
| Attribution Contact: | 877-366-2213 |
| Originating System Name : | Stellar MLS |
| Green Energy Generation Yn: | No |
| Listing Contract Date: | 2026-06-08 |
| New Construction?: | No |
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Property Last Updated: November 06, 2026 11:43 AM - ET
