Land - Real Estate in Sarasota
Listing Price: $2,200,000 (Mortgage Calculator →)
Description of Property
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.
Garage: No
Carport: No
Parking Features:
Spa Features:
Water Frontage:
Water Features:
Water Access:
Property Details At A Glance
Property Type: Land
City: Sarasota
County: Sarasota
Subdivision: Shanandoah Park
Annual Tax: $18,777
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Sewer: Public Sewer
Water Source: Public
Lot Information
Lot Features: Sidewalk
Lot Size (acres): 0.8
Lot Size (sq. ft.): 35,000 square feet
Lot Dimensions: 350 x 100
Road Frontage: Street Paved
Additional Parcels: Yes
Additional Parcels Description: 2028040034, 2028040035, 2028040031 2028040033,
Legal Description & Other Information
Financing Available: Special Funding
Parcel Number: 2028040036
Zoning: DTE
Tax Legal Desc.: LOTS 3 & 5 BLK B SHENANDOAH PARK, LOT 7 BLK B SHENANDOAH PARK, LOT 9 BLK B SHENANDOAH PARK, LOT 11 BLK B SHENANDOAH PARK, LOTS 13 & 15 BLK B SHENANDOAH PARK
Listing courtesy of PREFERRED SHORE LLC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.