About 1565 State Street
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.
Features of 1565 State Street
| MLS® # | A4683759 |
|---|---|
| Price | $5,900,000 |
| Square Footage | 12,626 |
| Acres | 0.36 |
| Year Built | 1921 |
| Type | Commercial Sale |
| Sub-Type | Mixed Use |
| Status | Active |
Listing Details
| Office | RE/MAX ALLIANCE GROUP |
|---|
Listing Map
Neighborhood Information for 1565 State Street
Very Rapid Population Growth, Moderate Residential Turnover, Coastal Area
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Sarasota Military Academy Public - 9Th Grade to 12Th Grade |
1 Miles | |
|
Sarasota School Of Arts/Sciences Public - 6Th Grade to 8Th Grade |
1 Miles | |
|
Westcoast School For Human Development Private - Kindergarten to 12Th Grade - Closest Elementry School |
1 Miles | |
|
|
Agape Christian School Of Sarasota Private - Kindergarten to 12Th Grade |
1 Miles | |
|
|
Children First Public - Preschool to Preschool |
1 Miles | |
|
|
Sarasota High School Public - 9Th Grade to 12Th Grade - Closest High School |
1 Miles | |
|
|
Alta Vista Elementary School Public - Kindergarten to 5Th Grade |
1 Miles |
School data provided by GreatSchools