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54,496 SqFt
$ 7,999,900
Est. payment | /mo
54,496 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 54,496 sqft
Price per Sqft $146
MLS Listing ID A4500554
HOA Y/N No
Originating Board Stellar MLS
Year Built 1983
Annual Tax Amount $50,867
Lot Size 5.150 Acres
Acres 5.15
Property Description
EXCEPTIONAL DEVELOPMENT OPPORTUNITY on the Island in Venice, Florida. LAND & BUILDINGS! This is one of the last, largest and best pieces of available land on the island. This popular destination is home to a private airport, marina, beautiful beaches and beachfront properties and a charming downtown area with local restaurants and shops. This property consists of approx. 5.15 acres located in the heart of it all with easy access off the south bridge to Hwy-41 (Tamiami Trail). Currently zoned RTR Resort residential, previous plans proposed for up to 165 units in a combination of short-term and extended stay hotel/resort/and restaurant. A rezoning to RMF4 indicates 18 units per acre density for luxury condos which are in high demand on the island. Under either buildout scenario upper floors would showcase stunning sunsets over the Gulf of Mexico! Property encompasses 1111 and 1225 Avenida Del Circo and included in the purchase is a beautiful Professional Building with a long established dermatology center. At buyer's discretion tenants are happy to stay and annual income in the range of $120,000 per year can be expected. Alternatively, this building would accommodate a very nice sales center, amenities center and more. The second existing building offers approximately 50,000 sf. with 65+ existing rooms, management offices, a full restaurant with large commercial kitchen and more. This building could be renovated to current apartments, assisted living, hotel, condos etc. This rare opportunity is the first time to market in almost 40 years. This property is ready for your dream...build it and they will come.
Location
State FL
County Sarasota
Zoning RTR
Interior
Cooling Central Air
Building
Story 1
Foundation Slab
Lot Size Range 5 to less than 10
Structure Type Brick,Concrete
New Construction false
Others
Ownership Corporation
Special Listing Condition None
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Listed by GULF SHORES REALTY
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