Highly Desirable Development Opportunity: Lido Dorset

Vacant Land for Sale
Catylist Listing ID: 30735510
Property Subtypes: Hospitality, Multi-Family, Vacation/Resort
Gross Land Area: 45,428 SF
Sale Price: $25,000,000
Unit Price: $550.32 PSF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/15/2022

Overview / Comments

Lido Dorset Condominium
Located minutes West of Downtown Sarasota, Lido Key is one of Florida's most appealing beach communities. The popular Lido Beach Pavilion, boating, fishing and kayaking are all within easy reach of this property. Dining and shopping at renowned St. Armands Circle are just blocks away. Downtown Sarasota's cultural amenities are just across the bay via the Ringling Causeway.

Spectacular sunset views, warm Gulf of Mexico waters and beach access directly across the street make the 1.04-acre Lido Dorset property a unique and desirable development opportunity.

The existing 38-unit Lido Dorset Condominium is available on a Bulk Purchase basis. Each condominium unit owner will need to accept their individual offer.

Year Built: 1963
Total Existing A/C Interior Space: 23,132 sq ft
Average Unit size: 609 sq ft
Unit Size Range: 399-988 sq ft
38 Existing Units:
-Thirty-one 1 Bedroom/1 Bath
-Two 2 Bedroom/1 Bath
-Two 2 Bedroom/ 2 Baths
-Three Studios 0 Bedrooms/1 Bath

There is an on-site rental office for unit owners who seek assistance finding short- term and long-term renters. It is not mandatory for unit owners to use the rental office, as many owners who choose to rent their units opt-in and opt-out at will.

Other conditions:
-Buyer to pay seller's and buyer's real estate brokerage commission.
-Buyer to pay for Title Insurance, Survey and all closing costs except for seller's private attorney costs.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota City
Tax ID/APN: 0000007386, 2016051001-2016051038
Zoning: RMF-3 (13 UNITS PER ACRE)
Property Located Between: Tyler Drive and Coolidge Drive
Property Visibility: Excellent
Legal Description: Lido Dorset Condominium Association Inc and individual unit owner PID #'s.
Largest Nearby Street: John Ringling Blvd
Feet of Frontage: 312
Highway Access: John Ringling Blvd east to the mainland and SR-41 Tamiami Trail
Airports: SRQ 20 minutes
Site Description: Triangular shaped lot. Across the street from Lido Beach
Area Description: Residential, Hospitality and Retail/Commercial
Lot Frontage: 312
Lot Depth: See attached
Zoning Description: RMF-3 (13 units per acre)
Development Name: Lido Dorset
In Flood Plain?: Yes
Topography: Level
Easements: Utilities
Easements Description: Normal Utility Easements
Soil Type: Mixed
Available Utilities: Electric, Water, Sewer, Cable
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,630 28,615 113,585
Median Age: 71.22 54.12 48.35
Households: 968 14,183 53,131
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