Burns Square Development Opportunity

Vacant Land for Sale
Sale Pending
Catylist Listing ID: 30582063
Property Subtypes: Multi-Family, Office, Retail
Status: Pending
Gross Land Area: 1.85 Acres
Sale Price: $10,750,000
Unit Price: $5,810,810 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Last Updated: 5/16/2022

Overview / Comments

This property consists of 3 parcels totaling 1.85 Acres and spanning a full city block stretching 408 feet of frontage along South Orange Avenue from Laurel St. to Morrill St. The property is zoned Downtown Core (DTC) which allows up to 50 units per acre and a max of 10 story height, thus allowing for up to 92 residential units on the site. Retail and Office are also allowed within the zoning and could be combined with the Residential building.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 2027100027, 2027100026, 2027100052
Property Located Between: This site is one of the last remaining land parcels in the Downtown Area with enough land mass to host a large scale residential or mixed use project. Located along South Orange Avenue, the site not only enjoys beautiful sunset and potential waterfront views, but it also provides the quaint feel provided from the neighboring Burns Square District to the west and Laurel Park to the east. With retail and restaurants abundant throughout the district and only a few minutes walk to Main St. and the heart of Downtown, this site offers the perfect balance of the Downtown Lifestyle and the quiet, secluded neighborhood feel. It also also located within an Opportunity Zone giving potential tax incentives for the development project.
Largest Nearby Street: US-41 and S. Washington Blvd.
Feet of Frontage: 408
Highway Access: US-41 and US-301
Airports: SRQ
Lot Frontage: 408

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,975 80,105 163,423
Median Age: 47.98 45.7 48.38
Households: 5,422 36,097 75,624
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