Freestanding building on 2.2+ Acres with great frontage

Highlights:

• Most affordable price per unit in Sarasota
• Two-story building on a 2+ acre site
• 277.54’ frontage on N Tamiami Trail/US-41
• Daily Traffic Counts of 32,500
• ±104 parking spaces on site
• Approximately 9 miles to I-75
• Prime visibility near Downtown Sarasota & SRQ Airport
• Close to Ringling Museum, USF, New College & Ringling College of Art & Design

Description:

This exceptional North Tamiami Trail redevelopment site offers Sarasota’s most affordable price per unit and one of the strongest density opportunities in the market. Formerly used as a school, office, medical facility, and restaurant, the property delivers unmatched versatility for developers seeking value-add potential in a prime urban corridor.

The property currently has 77 vested residential units. However, under SB 102 and utilizing the Commercial Corridors and Commercial Centers Attainable Housing Density Bonus Program, the allowable residential units increase significantly to a total of 231 and possible height bonus of up to 2 stories. This prime location is ideally positioned to take full advantage of the enhanced density provisions offered by SB 102 and the City's updated regulations. Perfect for apartments, mixed use, student housing and other high density residential development opportunities.

The parcel's strategic location on the North Tamiami Trail places it in close proximity to the vibrant heart of Downtown Sarasota & high-rise hotels, condominiums and apartments along the gateway to St. Armands.

Residents can enjoy the cultural attractions, entertainment venues, and upscale dining options, providing a dynamic urban lifestyle within reach. Being just steps away from SRQ Airport ensures unparalleled convenience for frequent travelers. Whether for business or leisure, residents can enjoy the luxury of reduced travel time and stress, making it an ideal location for jet setters and professionals with frequent travel commitments.

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 popular gas and convenient stores. Located just to the South of the rapidly growing SRQ Airport and busy University Parkway.

With a generous 2.14+ acre parcel, property owners have the luxury of space giving a true definition of value-add. This opens up a myriad of possibilities for development and outdoor amenities. The expansive grounds allow for creativity and customization to create a unique and personalized living environment.

The city's Commercial Corridors and Commercial Centers Attainable Housing Density Bonus Program requires that a minimum of 15% of bonus units above the base density for a development must be designated as attainable, and provided on-site, to households earning 120% of the Area Median Income (AMI) for the North Port-Sarasota-Bradenton Metropolitan Statistical Area (MSA) 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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