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 |
| © Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither My Florida Commercial Real Estate nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions. |
