A fracturing tool features spaced releasable packers with an outlet in between. The housing has relatively moving components for opening the frac port between the packers with weight set on the lower packer. Once the frac port is opened the upper packer is set and the pumping begins. The upper packer can be released so that tension can be pulled on the lower packer to close the frac port and open a through passage in the housing. In one embodiment the through passage can be located above the lower packer to a sand jet perforator to clean debris away from the lower packer if it is difficult to release the lower packer or to abrasively perforate through a tubular. In another embodiment the housing outlet can be below bottom packer to perform a treatment further downhole or to operate another tool. The straddle tool can be run in on coiled tubing.