Opportunity Zone Redevelopment Site | Up to 231 Units

Highlights:

• Opportunity Zone redevelopment site
• 77 vested units | Potential for up to 231 units
• Possible height bonus of up to 2 additional stories
• 2.14± acres with 277.54' frontage on US-41
• ±104 on-site parking spaces
• Traffic counts of approximately 32,500 vehicles per day
• Minutes from Downtown Sarasota & SRQ Airport

Description:

American Property Group of Sarasota, Inc. presents 3808 N Tamiami Trail, Sarasota, FL.

This exceptional North Tamiami Trail redevelopment site offers one of Sarasota’s strongest density opportunities in a highly visible Opportunity Zone location. Situated on 2.14± acres along US-41, the property offers excellent access to Downtown Sarasota, Sarasota Bradenton International Airport, University Parkway, and the surrounding cultural and educational institutions.

The property currently has 77 vested residential units. Under SB 102 and the City of Sarasota’s Commercial Corridors and Commercial Centers Attainable Housing Density Bonus Program, allowable residential density may increase to as many as 231 units, with a possible height bonus of up to two additional stories. The site is well suited for apartments, mixed-use, student housing, and other high-density residential development opportunities.

Its Opportunity Zone location adds another potential advantage for investors pursuing qualifying improvements or redevelopment. Subject to applicable designation and program requirements, qualifying investments may benefit from federal tax incentives designed to encourage long-term investment in designated Opportunity Zones.

The property features approximately 277.54 feet of frontage along N Tamiami Trail/US-41 and is near Downtown Sarasota, SRQ Airport, The Ringling, USF Sarasota-Manatee, New College of Florida, and Ringling College of Art and Design. With substantial acreage, visibility, existing parking, and significant density potential, the site provides flexibility for a variety of redevelopment strategies.

The City's attainable housing density bonus program requires a minimum of 15% of bonus units above the base density to be designated as attainable and provided on-site to qualifying households for a minimum of 30 years.

The subject property is well located with excellent frontage along U.S. 41 (North Tamiami Trail) near Ringling Museum, University of South Florida, New College and Ringling School of Art & Design. Neighborhood retail includes a neighborhood Walmart, CVS Drug Store and several gas and convenience stores. Property is located just to the South of SRQ Airport and University Parkway. Just a few short minutes to the vibrant and growing Downtown Sarasota and the busy yet beautiful St. Armand's Circle. High Visibility due to airport traffic at all times!

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