Catylist ID:
#30322635
Sarasota (Lido Key) Waterfront Development Opportunity
Vacant Land
for Sale
| Catylist Listing ID: | 30322635 |
| Property Subtypes: | Hospitality, Multi-Family, Vacation/Resort |
| Gross Land Area: | 100,512 SF |
| Sale Price: | See Agent |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/12/2019 |
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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