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Sarasota-Manatee
Business Observer Friday, Oct. 29, 2021 11 months ago

84-unit complex sold for nearly $12 million

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Presidential Apartments on Fruitville Road in Sarasota sells for nearly $12M
by: Louis Llovio Commercial Real Estate Editor

SARASOTA — A Sarasota apartment complex on Fruitville Road has sold for $11.6 million.

Presidential Apartments, a 84-unit, two story community, sits on 4.7 acres just west of the Sarasota Fairgrounds. It was built in 1973 and includes a laundry facility and pool.

Mike Migone, a senior advisor at SVN Commercial Advisory Group, says in a press release that “this complex has consistently had an occupancy rate of 98 to 100%.”

“The new owner should have no trouble with occupancy here.”

SVN represented the buyer, Sarasota Presidential, in the transaction.

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