423 N Lemon Ave - Freestanding FOR SALE


Sarasota, FL 34236- Downtown Sarasota
$2,500,000 USD
404-542-0364
423 N Lemon Ave, Sarasota, FL for Sale
$2,500,000 USD
Freestanding - FOR SALE
1/26
null | Request Cap Rate

NEW


423 N Lemon Ave
Sarasota, FL 34236
Downtown Sarasota


HIGHLIGHTS

  • Prime Location in Rosemary District
  • 2 retail freestanding buildings w/secure fenced corner lot
  • Downtown Edge (DTE) zoning for generous use!
  • 2022 Full Gut Renovation

OVERVIEW

Retail Freestanding Downtown Sarasota | Rosemary District A rare opportunity in the heart of Sarasota's Rosemary District. 423 N Lemon Avenue features two freestanding retail/office buildings totaling 5,059/SF GBA (4,483/SF leasable) on a fully fenced 11,300 SF corner lot at N Lemon Avenue and 5th Street. Gut renovated in 2022 with over $500,000 spent on extensive structural support, HVAC, full electrical, updated systems, and modern upgrades. Main building is 3,704/SF with high ceilings and small mezzanine. Rear building is 779/SF currently used for office and storage. A fully fenced and secured outdoor courtyard and prime corner visibility give this property something most downtown buildings simply do not have: a built-in social gathering space. Potential use: restaurant with covered patio dining, a craft brewery with a shaded beer garden, or a coffee roastery and tasting room. The fenced perimeter and dual-building layout also support a distillery, medspa, event venue, boutique fitness or wellness studio (it currently houses a thriving CrossFit gym), creative office, private members club, or specialty medical practice. Downtown Edge (DTE) zoning is one of the most permissive districts in the city, welcoming retail, office, medical and professional, restaurant, personal services, and residential mixed-use. Long-term redevelopment upside with a covered land play. This is one of downtown's most active redevelopment corridors, where new luxury residential and mixed-use projects continue to reshape the streetscape. The property puts you within an easy walk of Bay Park, dozens of restaurants, hotels, galleries, and shops, while keeping you connected to the broader downtown business district and the cultural energy that makes this submarket one of the strongest in Florida. Perfect for an owner-user, investor, or developer who wants cash flow now and a redevelopment later - 423 N Lemon delivers on all three. Offered at $2,500,000.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$558 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1946

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

DTE

APN/PARCEL ID

2026-11-0050

ASK ABOUT THIS PROPERTY

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404-542-0364

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404-542-0364

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