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: 10/17/2018

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

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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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