Park East District Assemblage For Sale

Vacant Land for Sale
Catylist Listing ID: 30788376
Property Subtypes: Multi-Family, Office, Other
Gross Land Area: 2.08 Acres
Sale Price: $8,300,000
Unit Price: $3,990,384 Per Acre
In Opportunity Zone? Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/16/2022

Overview / Comments

******ACCEPTING BACK UP OFFERS****

This well located assemblage consisting of 12 contiguous parcels totaling 2.08 acres is located in the Park East District with over 550 feet of frontage along Fruitville Rd. This district is right in the path of development as it's located just minutes from the heart of Downtown and can still benefit from all of the Downtown amenities. The site will allow for 52 residential units by right and the Owner also has plans for a Medical Office building in place for a portion of the site. There are additional adjacent parcels along 4th Street that are also for sale by a different owner that could help square off the property and add additional density. This is a prime development opportunity for someone looking to be ahead of the curve and start the improvement of this well-located district. It is also located within a Qualified Opportunity Zone which could allow for potential tax advantages, see the City of Sarasota's website for more info in the Opportunity Zone attachment below.
https://www.sarasotafl.gov/government/planning/office-of-economic-development/opportunity-zones

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 2028130026, 2028130028, 2028130029, 2028130030, 2028130031, 2028130034, 2028130035, 2028120056, 2028120055, 2028120054, 2028120052
Zoning: DTE
Property Visibility: Excellent
Largest Nearby Street: Fruitville Road
Highway Access: US 301, I-75
Airports: SRQ
Area Description: Located just east of US 301 along Fruitville Rd, this assemblage has over 550 feet of frontage along Fruitville. Just minutes from the heart of downtown and easily accessible via either Fruitville or US 301, this site has a great location and amazing visibility for any type of residential, office, or mixed use project. The assemblage consists of 8 parcels fronting along Fruitville Rd. and an additional 4 parcels in the rear that front along 4th Street. The technical addresses include 2015-2063 Fruitville Rd. and 2054-2092 4th Street.
Lot Frontage: 550+

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,403 84,077 169,921
Median Age: 41.53 44.98 47.96
Households: 6,284 37,259 77,728
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