Catylist ID:
#30322635
Sarasota (Lido Key) Waterfront Development Opportunity
Vacant Land
for Sale
Sale Pending/Contingent
Catylist Listing ID: | 30322635 |
Property Subtypes: | Hospitality, Multi-Family, Vacation/Resort |
Status: | Pending/Contingent |
Gross Land Area: | 100,512 SF |
Sale Price: | See Agent |
Sale Terms: | Cash to Seller |
Cap Rate: | Undisclosed |
Last Updated: | 12/13/2020 |
Overview / Comments
Rare Waterfront Development Opportunity! 2.3 beach-front acres directly on the Gulf of Mexico currently houses a 1950's style resort motel with a local historic designation. Ideally it would be re-developed as a luxury condominium tower or hotel. This site is literally 3 minutes to internationally reknown St Armands Circle featuring a wide variety of restaurants and retail shops. Only 5 minutes to Downtown Sarasota. There is no formal asking price as the ownership group is seeking proposals. The land is occupied by an existing resort motel consists of 43 individually-owned condominium units. The buyer will be responsible for re-zoning; all government and agency approvals ; removing the historic designation; and paying the brokerage commission. Contact listing broker for further information including a property brochure. |
Additional Details
Nearest MSA: | North Port-Sarasota-Bradenton |
County: | Sarasota |
Taxing Authority: | City of Sarasota |
Tax ID/APN: | 0000007350 |
Zoning: | RMF4 (18 UNITS/ACRE) |
Property Located Between: | Lido Beach and the Ritz Carlton Beach Residences |
Property Visibility: | Excellent |
Legal Description: | PID 0000007350 and more fully described in the deed |
Largest Nearby Street: | Across from McKinley Drive |
Feet of Frontage: | 187 |
Highway Access: | Drive West from St Armands Circle and then South on Ben Franklin Drive |
Airports: | SRQ 20 minutes |
Site Description: | Existing Condominium Resort Motel |
Area Description: | Upscale Resort Condominiums and Homes for sale. Plus nearby (5 minutes) Hotels, shopping, dining and retail. |
Lot Frontage: | 187 |
Lot Depth: | 735 |
Zoning Description: | RMF4 |
Topography: | Level |
Easements: | Utilities |
Easements Description: | Normal Utility |
Soil Type: | Sandy |
Available Utilities: | Electric, Water, Sewer, Storm Drain, Cable, Internet Access |
Water Service: | Municipal |
Sewer Type: | Municipal |
Demographic Statistics
Proximity: | 1 mile | 3 miles | 5 miles |
---|---|---|---|
Total Population: | 1,630 | 33,231 | 113,967 |
Median Age: | 71.22 | 53.09 | 48.05 |
Households: | 968 | 16,345 | 53,090 |
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