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

View FullscreenMap

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.