Description
PRIME MULTIFAMILY DEVELOPMENT OPPORTUNITY IN SARASOTA'S HISTORIC DISTRICT | RESTORATION ZONE Discover a rare multifamily development opportunity in Downtown Sarasota's Historic District, ideally positioned on a highly visible corner lot within a designated Sarasota Restoration Zone. Located just minutes from the heart of Downtown Sarasota, this property offers developers, builders, and investors the opportunity to create new construction condominiums, luxury townhomes, or a boutique multifamily residential development in one of Sarasota's most sought-after and rapidly evolving areas. Zoned for multifamily development with potential for up to 24 residential units, this site offers exceptional flexibility for a variety of residential development concepts. The property is particularly well suited for condos, luxury townhomes, multifamily residences, or an upscale urban residential community designed to take advantage of Sarasota's continued growth and strong demand for new housing. One of the property's major advantages is that utilities are already on site, including water, sewer, electric, and other essential services, potentially helping reduce infrastructure costs and simplify the development process. The location provides an exceptional walkable Downtown Sarasota lifestyle, with convenient access to restaurants, cafés, shopping, entertainment, cultural attractions, art galleries, theaters, Sarasota Bay, and the vibrant downtown district. Sarasota continues to experience significant residential growth, with new construction and redevelopment transforming the surrounding area and creating increased demand for well-located multifamily housing. PROPERTY HIGHLIGHTS: Prime corner lot in Sarasota's Historic District Located within a Sarasota Restoration Zone, Multifamily zoning, Potential for up to 24 residential units, Ideal for condominium development or luxury townhomes, Excellent opportunity for multifamily redevelopment, Water, sewer, electric and utilities already on site, Walkable to Downtown Sarasota, Close to restaurants, shopping, entertainment, arts and Sarasota Bay, Surrounded by ongoing new construction and redevelopment, Strong demand for new residential housing, High-visibility corner location, Excellent opportunity for developers, builders and investors, Potential for significant redevelopment and investment upside A rare Sarasota development opportunity in a highly desirable location. With multifamily zoning, Restoration Zone designation, utilities already on site, and the ability to potentially develop up to 24 residential units, this property offers a compelling opportunity to participate in the continued transformation and growth of Downtown Sarasota and the surrounding Historic District. Contact us today for zoning information, development details, site information, and to explore the potential of this exceptional Sarasota multifamily development site.
Details
| MLS # | A4701380 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | For-sale |
| Status | Active |
| Days On Site | 47 |
| Listing Provided By | COMPASS FLORIDA LLC | Sandra Osorio, PA |
Features
| Zoning | DTE |
|---|---|
| Acreage | 0.85 |
Taxes
| Property | 3387 |
|---|
Area Information
| State | FL |
|---|---|
| County | Sarasota |
| City | SARASOTA |
| Zip Code | 34236 |
| Area | 34236 Sarasota |
| Subarea | Petroutsa Brothers Sub |
| Community Name | PETROUTSA BROTHERS SUB |
| Listing VS Median (in PETROUTSA BROTHERS SUB) | |
Price: $6,000,000 low | high Med: $552,450 On site: 47 low | high Med: 84.5 | |
Market Activity 34236
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| State | FL |
|---|---|
| County | Sarasota |
| City | SARASOTA |
| Zip Code | 34236 |
| Area | 34236 Sarasota |
| Subarea | Petroutsa Brothers Sub |
| Community Name | PETROUTSA BROTHERS SUB |
| Listing VS Median (in PETROUTSA BROTHERS SUB) | |
Price: $6,000,000 low | high Med: $552,450 On site: 47 low | high Med: 84.5 | |
 | $5,885,0001621 Bay Point CtSarasota, FL 34236 |