Waterfront Mixed-Use Development Site

Highlights:

• Prime waterfront development site offers sweeping views of the Manatee River with navigable water and Gulf access
• Nearly 1,000 feet of frontage on US-301 North, just ½ mile east of I-75, where FDOT recently completed a $145 million interchange project
• Less than ½ mile away from the Ellenton Premium Outlets, which has over 4 million annual visitors. Also within 1 mile are the Ellenton Ice & Sports Complex, waterfront restaurants, shopping and hotels
• Abundant employment opportunities in the surrounding area include Benderson Development’s new Florida International Tradeport, a Class-A Industrial Park with 2+ million square feet of space
• Centrally located between Tampa & St. Petersburg to the North and Bradenton & Sarasota to the South
• Site has a generous Retail/Office/Residential (ROR) Future Land Use designation and may also qualify for Florida’s newly-updated Live Local Act

Description:

Exceptional 11.1 +/- acre waterfront development opportunity in Ellenton, Florida, a bedroom community to Tampa and St. Petersburg. Site consists of three contiguous parcels with over 600 feet of direct water frontage along the scenic Manatee River on the south side, plus with just under 700 feet of canal water frontage along the east side, and nearly 1,000 feet of frontage along the heavily-trafficked US Highway 301 on the north side. The site is one of the only remining sites in Manatee County with both arterial road frontage and navigable water access. Site also has an artesian well and fiber optic high-speed internet connectivity.

Located just east of the Interstate 75 interchange in the “North River” submarket of Manatee County, the property offers excellent regional connectivity, with immediate access to I-75 via a newly-constructed $145 million interchange that has greatly improved traffic flow and reduced congestion — providing seamless travel south to Bradenton and Sarasota or north to Tampa and St. Petersburg.

The site is ideally suited for a high density/intensity mixed-use development, which could include some combination of luxury apartments or condos, hotel with a rooftop restaurant, resort with a marina, a waterfront restaurant with a day dock and/or retail outparcels.

The property’s Future Land Use (FLU) designation is Retail/Office/Residential (ROR), which allows for up to 40 dwelling units per acre with a density bonus for affordable housing and/or a mixed-use project. This is one of Manatee County’s most favorable FLU classifications, which allows for very high intensity development with a maximum potential intensity of 1.0 Floor Area Ratio (FAR).

Alternatively, the property may qualify for Florida’s recently updated Live Local Act, which allows for high density multifamily developments to be approved administratively on commercial-zoned land, if a percentage of “affordable housing” is provided.

This is a rare opportunity to capitalize on a highly visible, waterfront development site in one of the region’s fastest-growing submarkets. The scarcity and unique features of this property will help increase its value over time, making it the perfect replacement property for a 1031 buyer.


The Bradenton/Sarasota area is located on Florida's beautiful West Coast on the Gulf of Mexico about one hour south of Tampa.

Both cities are best known for their beautiful beaches; Bradenton features Anna Maria Island with Holmes Beach, Bradenton Beach and Coquina Beach, while Sarasota is best known for Siesta Key and Lido Key Beach, with both Counties sharing Longboat Key.

Manatee County is an ideal spot for nature enthusiasts with attractions such as De Soto National Memorial, Robinson Preserve, Lake Manatee State Park, Palma Sola Botanical Park, Neal Preserve, Perico Preserve, Rye Preserve, Terra Ceia Preserve State Park, and the Bradenton Riverwalk, to name a few. Other attractions bringing visitors each year include the Village of the Arts, the Bishop Museum of Science, LECOM Park (Spring Training home of the Pittsburgh Pirates), and Florida Railroad Museum and the Florida Maritime Museum.

Manatee County draws national attention each year through the highly esteemed IMG Academy, which services elite athletes from around the world.

Vibrant hot spots in Sarasota County driving visitors to the area include St. Armands Circle, Mote Marine, Marie Selby Botanical Gardens, The Van Wezel Performing Arts Hall, Ed Smith Stadium (Spring Training home of the Baltimore Orioles), Sarasota Jungle Gardens, The John and Mable Ringling Museum of Art, Nathan Benderson Park, Historical Downtown Venice, and CoolToday Park (Spring Training Home of the Atlanta Braves).

Many nationally recognized companies call the Bradenton/Sarasota Area home or have major facilities here. These include Tropicana Products (PepsiCo), Air Products & Chemicals, Beall's Department Stores, Chris-Craft Boats, Yellowfin Yachts, Feld Entertainment (Ringling Brothers Circus), Sunz Holdings, Sun Hydraulics, Sysco West Coast, and Pierce Manufacturing.

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