SARASOTA, Fla. (Sept. 5, 2017) – Local investors have purchased The Dolphin Building, a 10,912-square-foot mixed-use property located at 401 S Pineapple Avenue in Sarasota, for $2.685 million. The property includes first-floor retail, which is fully occupied by tenants such as Burn’s Court Café and Spot SRQ Dog Grooming, and second-floor residential space in the heart of downtown Sarasota.
Ian Black Real Estate represented the seller, RT Pineapple, Inc. Ken D’Agostino of D’Agostino Real Estate Group represented the buyer, Folger, LLC. The property was listed for six months and received more than 30 offers before the sellers found the right fit.
“It was important to the sellers that the buyer would maintain the charm of the existing building,” said Ian Black of Ian Black Real Estate. “The buyers plan to improve the building for existing and future tenants and maintain the structure and neighborhood charm.”
The property is located in the Burns Court Historic District, which is home to a number of buildings built in the 1940s and ‘50s, including the home of prominent developer Owen Burns, who developed the neighborhood. It’s in close proximity to a number of new developments in downtown Sarasota, including three new condominium buildings – Sansara, Echelon on Palm and The Mark – that will add approximately 190 units to the downtown market.
About Ian Black Real Estate
Ian Black Real Estate (IBRE) is a boutique commercial real estate brokerage firm located in Sarasota, Fla. The firm is one of the largest commercial brokerage firms in Southwest Florida and boasts a deep knowledge of the commercial real estate market in Sarasota and Manatee counties and the surrounding area. For more information, visit ian-black.com.