Downtown Sarasota Re-development Opportunity
Vacant Land
for Sale
| Catylist Listing ID: |
30523992 |
| Property Subtypes: |
Hospitality, Multi-Family, Office, Retail
|
| Gross Land Area: |
29,092 SF
|
| Sale Price: |
$3,690,000 |
| Unit Price: |
$126.84 PSF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
4/20/2021 |
Overview / Comments
This area is vibrant and bordered by new residential condominium, apartment, hotel and mixed-use projects. This property has 300 ft of frontage on Fruitville Road and is one of the last remaining land re-development opportunities in Downtown Sarasota. Walking distance to the Quay re-development and Tamiami Trail to the West, The Rosemary District to the North and the center of the City to the South. Traffic count is 22,500 vehicles per day, providing excellent exposure.
Zoning is Downtown Edge defined as a densely, mixed use area with 5 stories maximum.
This property is also in the Rosemary Residential Overlay District (RROD) with an objective of increased residential density. The City of Sarasota approved a density of 40 residential units per acre in early 2020. There is also an 'affordable housing' component.
|
Financials
| Finance Data Year |
2019 |
| Real Estate Taxes - Annual($) |
$46,561 (Annual) |
Additional Details
| Nearest MSA: |
North Port-Sarasota-Bradenton |
| County: |
Sarasota |
| Taxing Authority: |
City of Sarasota |
| Tax ID/APN: |
2026130007 |
| Zoning: |
DTE DOWNTOWN EDGE |
| Property Located Between: |
Tamiami Trail and Central Ave |
| Property Visibility: |
Excellent |
| Legal Description: |
PID 2026130007
|
| Largest Nearby Street: |
N Tamiami Trail |
| Feet of Frontage: |
299 |
| Traffic/Vehicle Count: |
22,500 |
| Highway Access: |
Fruitville West to Tamiami Trail.
Fruitville East to I-75 |
| Airports: |
SRQ 15 minutes away |
| Site Description: |
Visible, accessible, versatile |
| Area Description: |
High growth, increasing density, condos, apartments, hotels, mixed-use |
| Lot Frontage: |
299 |
| Lot Depth: |
97 |
| Zoning Description: |
Downtown Edge
Rosemary Residential Overlay District (Early 2020) |
| Topography: |
Level |
| Easements: |
Ingress/Egress, Utilities |
| Easements Description: |
Routine Utilities |
| Soil Type: |
Mixed |
| Available Utilities: |
Electric, Water, Sewer, Cable |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,257 |
73,061 |
155,669 |
| Median Age: |
48.36 |
44.68 |
48.28 |
| Households: |
5,850 |
32,453 |
71,512 |
|
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