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1722 NORTH DRIVE
About This Property
Cherokee Park is distinguished by its quiet, tree-lined streets and an architectural landscape where beautifully restored historic residences sit alongside prominent new custom homes designed and built by some of Sarasota's most respected architects and builders. Within that setting, this property stands apart. Mature, century-old oak trees frame the perimeter, creating a park-like canopy of privacy, shade, and character while leaving the heart of the lot remarkably open. The combination of its ideal square configuration, substantial street presence, and undisturbed tree canopy creates a compelling canvas for a future luxury residence, with room to build a custom home, pool, outdoor living areas, and landscaped grounds without overwhelming the site.
The existing home is charming, comfortable, and move-in ready, giving its next owner the flexibility to enjoy the property immediately, renovate over time, or hold it while designing a future custom residence. Recent improvements include a new air-conditioning system, hot water heater, sewer line, and resurfaced pool, all completed in 2024. A separate bonus space offers an ideal setting for a work-from-home office, art studio, gym, or creative retreat.
Located just moments from Southside Elementary School and close to Southside Village, downtown Sarasota, the bayfront, and Sarasota Memorial Hospital, 1722 North Drive combines one of the city's most coveted residential settings with the dimensions and character of a truly distinctive homesite. Whether enjoyed as it stands today or reimagined as a significant new estate, this is a rare opportunity to secure an unusually substantial parcel and lasting value in the heart of Cherokee Park.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 24, 2026 | Listed by COLDWELL BANKER REALTY | $2,690,000 | |
| Listed by COLDWELL BANKER REALTY | |||
| May 30, 2023 | Sold | ||
| Sold | |||
| May 2, 2023 | Listed by COLDWELL BANKER REALTY | $2,595,000 | |
| Listed by COLDWELL BANKER REALTY | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017