$5,900,000

1565 STATE ST, SARASOTA FL, 34236

Price per sqft$467.29

Built in1921

Property size12,626 sqft

Property typeCommercial

Courtesy of RE/MAX ALLIANCE GROUP, Tom Cail, PA Listing Contact: 941-954-5454

Overview

Active

Listed Feb 24, 2026

Updated Jun 1

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.

Additional information

MLS^® ID: A4683759

Interior Features

Bathrooms: 0
Cooling: Yes
Basement: No

Exterior Features

Lot Size: 0.36 Acres

Other Property Details

Taxes: $42,149
Tax Frequency: Annually
Association Fee Frequency: Monthly

Listings courtesy of Stellar MLS as distributed by MLS GRID

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Based on information submitted to the MLS GRID as of 9:21 AM UTC on 9/17/2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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