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Car condos, starting at nearly $400K, headed to Sarasota County

Car Bank SRQ will break ground at 6562 Palmer Park Circle in Sarasota on June 29.
Car Bank SRQ will break ground at 6562 Palmer Park Circle in Sarasota on June 29.
  • Manatee-Sarasota
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Boat owners can put their beloved vessels in boatels. But what are car owners who need some extra space to do? 

A new warehouse facility for cars, boats and RVs seeks to answer that question. 

Car Bank SRQ, which breaks ground this month, offers a place for owners to store their vehicles in Palmer Ranch, in south Sarasota County. And it will offer more than just a parking spot.

Each unit — with costs starting at $389,000 — comes with a half bath, HVAC system, utility sink and industrial ceiling fan. Those concerned about the Florida weather can rest assured the car condominiums at Car Bank SRQ are built to withstand Category 4 hurricanes.

Todd Segal, director of construction at Calusa Development, came up with the idea as his car collection expanded and his garage space did not.

"Car Bank SRQ is an extension of one's home, adding instant square footage in proximity to where you live with true ownership,” Segal says in a statement. 

Each unit is about 24 by 42 feet with a 21-foot ceiling. It has a pedestrian entrance and 12-by-14-foot garage door.

Owners can customize their space with a mezzanine, lifts, epoxy flooring, cabinetry, extra lighting and outlets.

Due to the high-quality finishes, location and customization options, Segal calls Car Bank SRQ the “ideal car collector garage condo community.”

In fact, 15 of the 18 units at Car Bank SRQ have already been sold, according to officials with Michael Saunders & Company, which is handling sales.

Calusa Development is building the facility, which Segal says is expected to be complete in early 2025.

Car Bank SRQ is part of an ongoing trend in the region. Projects like it have been built or are being built in Naples, Auburndale, Polk County, St. Petersburg and Lakewood Ranch, among other locales.

This story was updated to reflect the correct name: Car Bank SRQ.



Elizabeth King

Elizabeth is a business news reporter with the Business Observer, covering primarily Sarasota-Bradenton, in addition to other parts of the region. A graduate of Johns Hopkins University, she previously covered hyperlocal news in Maryland for Patch for 12 years. Now she lives in Sarasota County.

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