Palmetto Plaza Mixed-Use Development Site - Entire 9.1 +/- Acres

Vacant Land for Sale
Sale Pending/Contingent
Catylist Listing ID: 30674164
Property Subtypes: Industrial, Office, Retail, Retail-Pad, Self Storage
Status: Pending/Contingent
Gross Land Area: 9.10 Acres
Sale Price: $2,850,000
Unit Price: $313,186 Per Acre
Land Splits Available: Yes
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/20/2023

Overview / Comments

This 9.1+/- acre retail development site has existing general development plan approvals in place for a 6,000 SF convenience store, gas with diesel truck island, and fast food drive through lanes. Additional proposed uses for the property approved with the plan include a 60,000 SF multi story storage facility, fast food out-parcels and retail strip center with end cap drive through lane.

The property has full access with median cuts on US-41 at Bayshore Road and Rock Payne Road. Because of the property's location on the direct route from Port Manatee to I-275, plus two new RV resorts just to the south (one under construction, one recently approved) a gas station with diesel pumps has been incorporated into the plan.

Property is also priced as four separate parcels with different intended uses. However, the owner is willing to sell combined parcels or the entire property in bulk as well. Pricing is based on raw land, but credits may be available for developers who put in master development infrastructure.

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Taxing Authority: Manatee County
Tax ID/APN: 631800409
Property Located Between: I-275 & Port Manatee
Largest Nearby Street: I-275
Feet of Frontage: 900
Traffic/Vehicle Count: 19,300
Area Description: This 9.1 +/- acre retail development site is located a half mile north of the Interstate 275 interchange with U.S. Highway 41 in Palmetto, Florida. This is the last exit of I-275 before heading north over the Skyway Bridge and into St. Petersburg. The site provides extremely easy access to St. Petersburg and Tampa to the north, and Bradenton and Sarasota to the south. It is located on the easiest and most direct route from Port Manatee to the I-275 interchange. Northern Manatee County continues to see population growth that is among the highest in the entire Tampa Bay region. Over 23,000 new homes are approved in the North River market, nearly 8,000 of which are within a 3-mile radius of this site. Those residential developments include Taylor Morrison's Artisan Lakes community which upon completion will have over 2,300 new units, Trevesta, which will have 1,100 units upon completion and the brand new "Tides" and "Surf" luxury RV resorts with over 800 pads combined. Also in close proximity to the site is the Imagine Charter School and a brand new Publix shopping center. Large employers including Sysco and Southeastern Guide Dogs have facilities 1 mile south of this site.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,436 9,648 41,982
Median Age: 67.97 49.2 45.45
Households: 742 4,055 16,842
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