5228 Calle Menorca, Siesta Key, FL 34242
- $2,690,000
- 6
- BD
- 4
- BA
- 2,050
- SqFt
- List Price
- $2,690,000
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- TB8541886
- Subtype
- Residential
- Style
- Two Story
- Year Built
- 1965
- Bedrooms
- 6
- Bathrooms
- 4
- Full Baths
- 4
- Living Area
- 2,050
- Lot Size
- 4,565
- Acres
- 0.10
- Subdivision
- Sarasota Beach
- MLS Area Major
- Sarasota/Crescent Beach/Siesta Key
Property Description
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.
Additional Information
- Interior Features
- Other
- Exterior Features
- Lighting, Outdoor Grill, Outdoor Shower, Sauna
- Financing
- Cash, Conventional, Owner Financing
- Community Features
- No Deed Restriction
- Property Description
- Two Story
- Zoning
- CG
- Appliances
- Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
- Heating
- Central, Electric
- Air Conditioning
- Central Air
- Exterior Construction
- Block, Frame
- Exterior Features
- Lighting, Outdoor Grill, Outdoor Shower, Sauna
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Foundation
- Slab
- Pool
- Yes
- Pool Type
- Above Ground
Listing courtesy of PEOPLE'S TRUST REALTY. 352-688-7022
Mortgage Calculator
StellarMLS is the source of this information via Internet Data Exchange Program. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. Data last updated on