2187, 2189, 2195, 2199 Ringling Blvd. 4 condos | Bureau | À vendre | 2 837 076 € | Sarasota, FL

Seize a rare chance to acquire four (7,015/SF) of the eight suites within Courthouse Square in downtown Sarasota which are all fully leased. This also includes 0 S. School Ave. (contiguous 930/SF parking lot). Long-term the property is ripe for redevelopment and could be redeveloped into 157 residential units plus commercial. One could utilize the Live Local Act and go up 18 stories. In the meantime the units are rented and provide a return to the Investor.
Beyond the reliable rental income and future redevelopment potential, these properties offer tax benefits for the right Buyer:
1) 1031 Exchange Friendly – Ideal for investors seeking to defer capital gains while stepping into a stable Florida market.
2) Immediate Depreciation Benefits – Eligible for bonus depreciation through a cost segregation study, allowing you to offset other income in the first year of ownership.
3) Long-Term Upside – The condos are part of an 8-unit building on over .75 acre site with Downtown Core zoning, which offers significant future redevelopment potential and the opportunity to capture a substantial appreciation event down the road.
4) Opportunity Zone Advantage – Located in a federally designated OZ, offering the ability to defer and potentially reduce additional capital gains under Opportunity Zone rules.