Rosemary Ranch & Village is one-of-a-kind property in the dynamic Rosemary District and an amazing opportunity in downtown Sarasota. With its historic charm, urban energy and proximity to beautiful Sarasota Bay, the rapidly developing Rosemary District has become a sought-after downtown neighborhood, with hundreds of new luxury apartments and condominiums, trendy restaurants and boutiques, nonprofits and art galleries.
In Rosemary Square and adjacent to Downtown Sarasota & the Bayfront sits Rosemary Ranch & Village, a vision of four buildings which are all on the local historic register and the surrounding courtyard gardens which also include a large parking lot. The property is currently home to 10+ units, and the buildings and gardens have been consistently maintained by its current owner. A private tropical oasis situated in a downtown area that is being gentrified and renovated with new and luxury properties all around this asset.
Rosemary Ranch & Village is zoned DTE in the Downtown Overlay district (Downtown Edge - zoning overview included in full OM) with the Rosemary Overlay District Zoning, which includes mixed-uses and increased density. The owner is retiring; new owners can continue operating it as an investment property as there is true upside available and there are some additional interesting and unique options that are possible moving forward, which are detailed in the following information and future discussions.
These are the current structures on the property.
(Rosemary Ranch & Village Buildings)
The Fisher House (830)
The Fisher Annex (820)
The Burket House (810)
The Mason House (800)
Included in this offering memorandum are some details on being on the local historical registry and highlighting the structures and addresses of the these properties on the local registry.
The city of Sarasota may be interested in working with property owners where historical structures could be relocated and this property may allow for that, which would likely improve the cash flow, general environment, may allow for utilization of tax credits and create a stronger pulse of activity and hidden enjoyment onsite.
Rosemary Ranch & Village is located in the TDR zone (Transfer of Development Rights) and a map of that zone and some literature specific to that are included within this OM.
The potential to transfer the development rights may offer some substantial impacts to the property and owner of Rosemary Ranch & Village.
All of this information should be double checked and confirmed with the appropriate sources.
There are redevelopment possibilities that exist as well, which may include lot splitting, acquisition of the corner parcel and working with planning and development in the City to strategize and approve a new future for the property.
The city of Sarasota owns the adjacent parcel located at the corner of Central Ave & 9th st which is currently used as a Auxiliary Facilities department.
SSAS (Sarasota School of Arts & Science) recently (2024) purchased the building located at 741 Central Ave (across the street from the SW corner) for $5.5m which included 8,955 SF building and just under 1 acre of DTE zoned land.
Location Summary
Downtown Sarasota is the cultural, culinary, and nightlife epicenter of the city. Main Street is brimming with restaurants, cafes, and bars, in addition to specialty shops and boutiques. Downtown also contains artistic gems such as the Sarasota Opera House, Florida Studio Theatre, and McCurdy’s Comedy Theatre.
Rosemary Square is adjacent to Downtown Sarasota just steps to the North. You can see the Ritz, the Westin, the new Hilton that's forthcoming and many other impressive neighbors.
Renting in Downtown Sarasota places businesses and residents within walking distance of the neighborhood’s exceptional commercial offerings as well as gorgeous spots like Bayfront Park, which touts panoramic waterfront views and scenic trails to explore. Downtown is convenient to other popular outdoor venues as well, including Payne Park and Marie Selby Botanical Gardens. Rosemary Ranch is also just a short drive away from world-class beaches like Lido Key Beach, Siesta Key, and Longboat Key.
Colleges & Universities
Distance
Ringling Coll. of Art & Design
Drive: 3 min 1.6 mi
New College of Florida
Drive: 7 min 3.3 mi
SCF, Sarasota, Bradentown
Drive: 16 min 8.4 mi
SCF, Sarasota, Lakewood Ranch
Drive: 21 min 11.1 mi
Parks and Recreation
Distance
Marie Selby Botanical Gardens
Drive: 3 min 1.3 mi
Sarasota Jungle Gardens
Drive: 4 min 2.2 mi
Mote Marine Aquarium
Drive: 10 min 4.4 mi
Phillippi Estate Park
Drive: 12 min 6.0 mi
Hospitals
Distance
Sarasota Memorial Hospital
Drive: 5 min 2.5 mi
Doctors Hospital of Sarasota
Drive: 16 min 8.4 mi
Lakewood Ranch Medical Center
Drive: 19 min 10.2 mi
