Residential Development Opportunity
Vacant Land
for Sale
| Catylist Listing ID: |
30845720 |
| Property Subtypes: |
Residential (Single Family), Other
|
| Gross Land Area: |
4.13 Acres
|
| Sale Price: |
$5,500,000 |
| Unit Price: |
$1,331,719 Per Acre |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
9/18/2023 |
Overview / Comments
Fantastic Single Family Development Opportunity. The property is a total of 2 parcels with 180,054 total square feet. This 4.13-acre parcel is located in directly on S Shade Avenue backing up to Phillippi Creek. The property has over 450 feet of frontage on Phillippi Creek. It is zoned Residential Single Family. A total of 9 single family residences are permitted for the site, with permits in hand for a 9 lot subdivision. Alternatively, the property can be divided into 4 estate sized lots of approximately 1 acre each.
The site is located near US-41, downtown Sarasota, Siesta Key, Siesta (Southgate) Mall, and other Bay Front communities. The surrounding area has seen a significant amount of new development including the recent sale of the bath and racquet club. This club will house approximately 270 residential units 13 tennis courts, and commercial/retail space. The continued development of residential single-family homes, and multi-family near the subject site, will increase the value significantly.
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Additional Details
| Nearest MSA: |
North Port-Sarasota-Bradenton |
| County: |
Sarasota |
| Taxing Authority: |
Public Records |
| Tax ID/APN: |
0074150021 |
| Zoning: |
RSF-1, RESIDENTIAL, SINGLE FAMILY |
| Property Located Between: |
S Shade Ave. |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
12,420 |
86,845 |
161,685 |
| Median Age: |
47.87 |
49.96 |
49.05 |
| Households: |
5,967 |
41,076 |
75,407 |
|
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