Sarasota property near SMH listed for $25 million

A 3.4-acre parcel in Sarasota is on the market for $25 million.

The property, listed by Ian Black Real Estate, is just north of Sarasota Memorial Hospital at 1425-1427 South Tamiami Trail. Ian Black’s Jag Grewal is representing the seller.

The parcels include a 13,500-square-foot building that’s 80% occupied with a tenant roster that includes Integrated Dental of Florida, Playa Bowls, Curaleaf Dispensary Sarasota and Verizon.

The now-closed 99-room Baymont by Wyndham Sarasota is also part of the acreage sitting behind the retail building.

The firm says the property is being marketed as a mixed-use redevelopment opportunity and it has included in the marketing a plan that “envisions” an eight-story, 246 room dual-brand hotel and a six-story, 279-unit wrap-style residential building.

Plans also call for three levels of structured parking with approximately 402 spaces and a shared fourth-level amenity deck with a pool, according to the firm.

Ian Black, the Sarasota commercial real estate firm, brokered the sale of the retail building last year for $7 million to Blue Waters Development, announcing at the time that the same buyer now owned 3.5 continuous acres “which makes this site more viable for future development.”

As for the hotel property at 1425 S. Tamiami Trail, it sold to Blue Waters for $8 million in 2022, according to Sarasota County property records.