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Sarasota,FL 34237
Key Details
Property Type Vacant Land
Sub Type Residential
Listing Status Active
Purchase Type For Sale
Subdivision Shanandoah Park
MLS Listing ID TB8397724
Annual Tax Amount $18,776
Lot Size 0.800 Acres
Property Sub-Type Residential
Property Description
This centrally located, five-parcel assemblage in Sarasota's Park East neighborhood offers a rare redevelopment opportunity in an area experiencing ongoing growth. Totaling approximately 35,000 square feet (350 road frontage x 100) deep or (0.80 acres), the site currently includes five income-producing rental units bringing in a total of $8,250 per month. The property is also situated within an Opportunity Zone. Zoning allows for mixed-use development with ground-floor commercial and multifamily residential uses as well as hotel developments with ground-floor commercial. The property supports a base density of 25 units per acre, with the potential to achieve up to 100 units per acre through participation in the City of Sarasota's Attainable Housing Density Bonus Program. Building heights of up to four stories are permitted under current zoning. The property is strategically located near downtown Sarasota, US-301, Fruitville Road, and I-75, offering convenient access to local employers, retail corridors, and regional transportation. Nearby recreational and cultural amenities include Bayfront Park, Payne Park, Gillespie Park, and the Rosemary District. Rental income provides holding revenue while entitlements and development planning are pursued. Seller financing may be available, subject to terms. Buyer is responsible for verifying all zoning regulations, density bonuses, and development entitlements with the City of Sarasota.
Location
State FL
County Sarasota
Community Shanandoah Park
Area 34237 - Sarasota
Zoning DTE
Exterior
Utilities Available Cable Connected,Sewer Connected,Water Connected
Building
Lot Description City Limits,Near Public Transit,Sidewalk,Paved
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash,Owner Financing,Special Funding
Listing Terms Cash,Owner Financing,Special Funding
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8397724