Sarasota Palms — Sale in Sarasota, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Sarasota, FL 34237

Photos

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Investment Figures

Cap rate
6.95%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

132 condominium units within 248 centrally-located and highly-amenitized community. *Seller owns 84 units and has contractual option rights on 48 units, allowing 132 total units to be conveyed. Investment Highlights: • 132 condominium units within 248 centrally-located and highly-amenitized community • Unique opportunity to acquire majority-control of association through bulk acquisition; exit via individual sale retail basis, or further acquire units for reversion to multifamily use • Recent multifamily sale comparables support 25%+ exit valuation increase • Community features an unparalleled comprehensive amenity set, including an expansive sparkling swimming pool, recently upgraded large fitness center, tennis courts, playground, dog park, picnic area, sauna, theater/media facilities, business and conference areas, game rooms, elevators, controlled access, complimentary community-wide resident Wi-Fi, and an EV charging area • Seller owns 174 of community's 182 storage units • Several recent substantial capital improvements, including new impact doors and windows and water heaters in all units • Sarasota's tourism industry attracts approximately 2- to 3-million visitors annually, generating billions of dollars in economic impact; with healthcare, insurance, and manufacturing employers serving as important components of the regional economy • The Sarasota area is distinguished by white-sand beaches, year-round sunshine, dining, shopping, outdoor activities, and a vibrant arts and culture scene. Known as Florida's "Culture Coast" the area offers venues such as the Sarasota Opera House, John and Mable Ringling Museum of Art, Mote Marine Laboratory & Aquarium and Marie Selby Botanical Gardens

Market Context

This multifamily in Sarasota, FL is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Sarasota, FL — view the full market.

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