$4,485,000

650 Central Avenue

SARASOTA FL, 34236

Description

A rare opportunity to acquire Rosemary Central located @ 650 Central Ave in the booming Rosemary District of vibrant downtown Sarasota, FL. The Property is a fully stabilized mixed-use commercial property consisting of 5 commercial retail storefronts, 5 modern condominium style apartments, 7 townhomes and a villa. Located on over one acre of land and encompassing nearly a full city block, Rosemary Central has a long history of full occupancy, rapidly increasing income and an enormous opportunity to further enhance the value by the ability to further develop the property with a far greater density of residential units. This well maintained property offers a diversified rent roll with a strong base of commercial and residential tenants. Five spacious store-front retail/office suites located directly on busy Central Ave representing durable cash flow and stability for a new owner. The richly updated Residential units are comprised of 2nd story modern flats above the commercial suites, a standalone building with townhomes and a garden style villa. The Rosemary District has seen huge growth over the past 5 years, bringing in a vibrant food and art scene with plenty of selections for everyones preferences. This is a very well maintained property with extremely stable income and an enormous amount of future development potential that would further enhance this amazing opportunity.

Details

MLS#A4446576
StyleRetail
Sub-TypeResale
StatusActive
Year2002
Days On Site75

Features

SQ Feet25,838
Story(s)1
Units18
ZoningDTE

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Area Information

StateFL
CountySarasota
CitySARASOTA
Zip Code34236
Area34236 - Sarasota
Listing VS Median (in 34236)
Price:
$4,485,000
low | high
Med:
$680,000
100% of Average
SqFt:
25,838
low | high
Med:
1,248
100% of Average
$ / SqFt:
$174
low | high
Med:
$545
100% of Average
On Site:
75
low | high
Med:
175
42.857142857143% of Average
Listing Updated: 12/04/2019
MLS Number: A4446576
Listing Provided By:
Angelia Young  of  A YOUNG REALTY GROUP INC

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