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5228 CALLE MENORCA

SARASOTA, FL 34242

MLS#: TB8541886

$2,690,000

Status: Active
Listing number: TB8541886
Listing provided by: PEOPLE'S TRUST REALTY
Listing agent phone: None
Last update: 2 days ago
New on site 3 days ago
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SARASOTA BEACH - Residential

Property

Beds

6

Full Baths

4

1/2 Baths

None

Year Built

1965

Sq.Footage

2,050

Discover an exceptional income producing property in the heart of coveted Siesta Key. This fully renovated multi unit compound features two spacious 3 bedroom, 2 bathroom units, one upstairs and one downstairs, making it ideal for short term rental investors. The current owner is available to continue managing the property for the next owner at only a 10 percent fee, offering a seamless, turnkey transition. The property generated $393,000 in gross income in 2023, $350,000 in 2024 (with two months of downtime due to hurricane impact), and $308,977 in 2025 (still down from hurricane related effects), with 2026 year to date income of $214,000 through July, offering strong and proven cash flow. Recent improvements include new AC (2025), updated flooring (2024 to 2025), modernized plumbing (2024), electrical upgrades (2022), and refreshed hot tubs (2021). What truly sets this property apart is its Commercial General (CG) zoning with a special exemption allowing nightly rentals, a rare and highly valuable designation on Siesta Key that protects the short term rental use. This zoning also unlocks significant redevelopment potential, including the possibility to construct an approximately 85 foot building with ground floor parking, 11 two bedroom units, and a rooftop pool. Property is part of a very successful Airbnb portfolio consisting of three duplexes with cap rates exceeding 10 percent. Please inquire for details.

Features & Amenities

Interior

  • Other Interior Features

    Other

  • Total Bedrooms

    6

  • Bathrooms

    4

  • Cooling YN

    YES

  • Cooling

    Central Air

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Central, Electric

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Block, Frame

  • Other Exterior Features

    Lighting, Outdoor Grill, Outdoor Shower

  • Pool

    Yes

  • Pool Features

    Above Ground, Private

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.1

  • Lot Size(square feet)

    4,565

  • Property Type

    Residential

Price

  • Sales Price

    $2,690,000

  • Tax Amount

    $13,996.35

  • Sq. Footage

    2,050

  • Price/SqFt

    $1,312

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    2

  • New Construction

    NO

  • Foundation Details

    Slab

  • Ownership

    Fee Simple

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    9

  • Water Source

    Public

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Location

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Sarasota

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Listing Courtesy of Steve Fingerman , PEOPLE'S TRUST REALTY

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Agent Ashley Baillio

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Ashley Baillio

Call Ashley today to schedule a private showing.

(561) 609-2391

franko+southflorida@init.hr


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Discover an exceptional income producing property in the heart of coveted Siesta Key. This fully renovated multi unit compound features two spacious 3 bedroom, 2 bathroom units, one upstairs and one downstairs, making it ideal for short term rental investors. The current owner is available to continue managing the property for the next owner at only a 10 percent fee, offering a seamless, turnkey transition. The property generated $393,000 in gross income in 2023, $350,000 in 2024 (with two months of downtime due to hurricane impact), and $308,977 in 2025 (still down from hurricane related effects), with 2026 year to date income of $214,000 through July, offering strong and proven cash flow. Recent improvements include new AC (2025), updated flooring (2024 to 2025), modernized plumbing (2024), electrical upgrades (2022), and refreshed hot tubs (2021). What truly sets this property apart is its Commercial General (CG) zoning with a special exemption allowing nightly rentals, a rare and highly valuable designation on Siesta Key that protects the short term rental use. This zoning also unlocks significant redevelopment potential, including the possibility to construct an approximately 85 foot building with ground floor parking, 11 two bedroom units, and a rooftop pool. Property is part of a very successful Airbnb portfolio consisting of three duplexes with cap rates exceeding 10 percent. Please inquire for details.

5228 CALLE MENORCA

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