Development Opportunity on Tamiami Trail

Vacant Land for Sale
Catylist Listing ID: 30647546
Property Subtypes: Hospitality, Multi-Family, Office, Retail, Retail-Pad, Self Storage, Vacation/Resort, Other
Gross Land Area: 63,000 SF
Sale Price: $1,595,000
Unit Price: $25.32 PSF
Sale Terms: Undisclosed, Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/10/2021

Overview / Comments

American Property Group of Sarasota, Inc is proud to present, 4925-5025 N Tamiami Trail, Sarasota, FL 34234:

Type: Vacant Land

Size: 64,359 SF

Zoning: NT

Highlights: +/-63,000 SF lot zoned NT with a brand-new NT Overlay District giving more density. These contiguous properties include the corner lot and runs street to street from US 41 to Remington Street with about 400’ of highway frontage. Located just south of University Parkway between the Bradenton and Sarasota markets and minutes to Sarasota International Airport and is minutes to colleges, Universities, downtown Sarasota, hotels, the beaches, and shopping.

Zoned for apartments, condominiums, homes, offices, up to a 70-room hotel, retail, or a combination of each (see zoning code link). See the attached renderings on what can be built on the property.

Hoyt Architects created two concepts to what could maximize the property per the zoning code (see architectural examples attached) . One is for 50 condominiums/apartments of various sized units and one is a new concept that creates dormitory living for 120 bedrooms, each with its own full bathroom and a common living room and kitchen, which can be extremely profitable. This quasi dormitory living concept is gaining a lot of attention in other areas of the country and is felt to be a win win for this area: https://www.geekwire.com/2018/quasi-dorms-adults-gain-popularity-affordable-option-booming-cities/

Visit us online at www.AmericanPropertyGroup.com to see all our listings or call (941)923-0535 at your convenience.

Additional Details

Nearest MSA: North Port-Bradenton-Sarasota
County: Sarasota
Tax ID/APN: 2001-11-0012
Zoning: NT - NORTH TRAIL
Market Type: Large
Side of Street: West
Property Visibility: Excellent
Legal Description: LOTS 1 2 3 & PART OF LOT 31 LYING N OF N LINE OF LOT 4 EXTND W TO REMINGTON DR & ALL THAT PART OF VACATED ALLEY LYING WITHIN ABO
Largest Nearby Street: North Tamiami Trail
Feet of Frontage: 400
Traffic/Vehicle Count: 45,000
Transportation: Bus, Shuttle, Highway, Airport, Taxi, Other
Highway Access: Minutes from I75
Airports: Directly across the street from SRQ Airport
Site Description: CORNER OF US 41 (NORTH TAMIAMI TRAIL) AND REMINGTON ST.
Lot Frontage: 400

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,179 50,866 154,715
Median Age: 33.66 44.38 46.58
Households: 2,320 21,960 68,868

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