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5228 CALLE MENORCA

For Sale
$2,690,000

BTC: 34.79948254

ETH: 1,098.40751327

5 days
6 bds
4 ba
2,050 sqft

Overview

Discover an exceptional income producing property in the heart of coveted Siesta Key. This fully renovated multi unit compound features two spacious 3 bedroom, 2 bathroom units, one upstairs and one downstairs, making it ideal for short term rental investors. The current owner is available to continue managing the property for the next owner at only a 10 percent fee, offering a seamless, turnkey transition. The property generated $393,000 in gross income in 2023, $350,000 in 2024 (with two months of downtime due to hurricane impact), and $308,977 in 2025 (still down from hurricane related effects), with 2026 year to date income of $214,000 through July, offering strong and proven cash flow. Recent improvements include new AC (2025), updated flooring (2024 to 2025), modernized plumbing (2024), electrical upgrades (2022), and refreshed hot tubs (2021). What truly sets this property apart is its Commercial General (CG) zoning with a special exemption allowing nightly rentals, a rare and highly valuable designation on Siesta Key that protects the short term rental use. This zoning also unlocks significant redevelopment potential, including the possibility to construct an approximately 85 foot building with ground floor parking, 11 two bedroom units, and a rooftop pool. Property is part of a very successful Airbnb portfolio consisting of three duplexes with cap rates exceeding 10 percent. Please inquire for details.

Location

Florida • SARASOTA • 34242 • For Sale

Details

Type:
Residential
Parking:
No Data
Year Built:
1965
Lot:
0.10 Acres
Heating:
Central / Electric
Price/sqft:
$1,312
Cooling:
Central Air
HOA:
No Data

Highlights

Annual tax
$13,996
2025
Pool
Above Ground
All facts and features

  • Flooring

    • Vinyl

    Heating

    • Central

    • Electric

    Cooling

    • Central Air

    Appliances

    • Dishwasher

    • Dryer

    • Microwave

    • Range

    • Refrigerator

    • Washer

    Other interior features

    • Other

    Bedrooms and bathrooms

    • Bedrooms: 6

    • Full bathrooms: 4

  • Property

    • Levels: Two

    • Pool Private: Yes

    • Exterior Features: Lighting / Outdoor Grill / Outdoor Shower / Sauna

    Lot

    • Lot: 0.10 Acres

    Other Property Information

    • Parcel Number: 0080170029

    • Zoning: CG

  • Type and style

    • Property Type: Residential

    • Property Sub Type: 1/2 Duplex

  • Utility

    • Cable Available

  • Other financial information

    • Annual tax amount: $13,996

  • Source details

    • MLS ID: TB8541886

    Other facts

    • Construction Materials: Block / Wood Frame

    • Foundation Details: Slab

    • Laundry Features: Laundry Room

    • Pool Features: Above Ground

    • Direction Faces: East

    • Living Area: 2050

    • Water Source: Public

    • Subdivision Name: SARASOTA BEACH

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

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Market around this address

Live counts in the same area.
View all
This zip
34242
321
median $1.2M
Active
Same city
SARASOTA
2,597
median $562K
Active
Similar price
$1.9M – $3.5M
205
median $2.5M
Active

The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: PEOPLE'S TRUST REALTY