A 13,500-square-foot retail building and a one-time 99-room hotel are part of an assemblage for sale in Sarasota. The property is 3.4 acres and sits on an entire city block.

The asking price is $25 million. The property, located at 1425-1427 South Tamiami Trail, is just south of Sarasota Memorial Hospital and is being marketed as a mixed-use redevelopment opportunity. Ian Black Real Estate (IBRE) has the listing.  

The Sarasota Herald-Tribune reported that 5 Point Equity bought the retail property last summer for $7 million. 5 Point Equity bought the hotel in 2022 for $8 million.

Included in the marketing of the property is a conceptual plan that envisions an eight-story dual-brand hotel totaling 246 rooms and a six-story wrap-style residential building comprising 279 units, including studio, one-, two- and three-bedroom floor plans. Plans also call for three levels of structured parking with approximately 402 spaces and a shared fourth-level amenity deck with a pool.