Fully Entitled Apartment Development

Vacant Land for Sale
Catylist Listing ID: 30216802
Property Subtypes: Multi-Family
Gross Land Area: 5.40 Acres
Sale Price: $2,000,000
Unit Price: $370,370 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/12/2018

Overview / Comments

Unique opportunity to purchase fully entitled land for affordable housing development. Affordable housing in Sarasota is in high demand. Plans include three 3 story buildings totaling 37,200 SF with 70 units total. Unit mix includes 18 one bedroom units and 52 multi-bedroom units. Proposed playground on site. Located within walking distance to Booker Middle School.

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Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0028040001
Zoning: RMF3
Property Located Between: N Washington Blvd & N Tuttle Ave
Property Visibility: Good
Largest Nearby Street: Myrtle Ave
Area Description: Located within walking distance to Booker Middle School and about a quarter-mile from US-301 in Sarasota, FL. A city by the Gulf of Mexico with arts, dining, nightlife and more. The city of Sarasota is a scene of eateries, theaters, shopping boutiques and artist enclaves. Running through the heart of downtown is Main Street, and branching off this main drag are colorfully named streets such as Pineapple, Orange, Lemon and Palm. More shops and colorful bungalows turned into bakeries, galleries, salons and yoga studios surround central downtown and are divided into five districts: Burns Court, Towles Court, Rosemary District, Historic Palm Avenue and Gillespie Park. Even more is waiting to be discovered at Bayfront Park, Southside Village and other nearby locales.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,962 73,707 180,303
Median Age: 39.07 44.43 46.93
Households: 3,065 32,526 80,528

Contact

Photograph of Listing Agent

Brett Kaplan

OPTIMUS CREIA MFCRE Member
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