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    505 Luminary Blvd Osprey, FL 34229

    For Sale
    $7,499,000

    10-Acre Commercial Property, Prime Location

    Property size:
    4,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    306
    This exceptional 10.01-acre commercial property at 505 Luminary Boulevard, Osprey, Florida, presents a unique investment opportunity. The property boasts over 900 feet of frontage on Tamiami Trail/US41, offering unparalleled visibility and accessibility. This is one of the last significant parcels available in Sarasota County with a Tamiami Trail address, making it a highly sought-after location. The site is strategically positioned at the northeast corner of Luminary Boulevard and Tamiami Trail, directly across from a new Publix supermarket and adjacent to substantial new developments, including shopping centers, restaurants, and residential complexes. The property includes a 4,000 square foot freestanding office building equipped with water, sewer, and electricity connections. All entitlements are in place, making it "shovel-ready" for immediate development. Development potential includes an assisted living facility or memory care center, with a density allowance of 9 units per acre. Additionally, up to 46,000 square feet of office space is permissible. The property's infrastructure is complete, with readily available electric, water, and sewer services. Easy access to Tamiami Trail from both ends of the property is ensured by simple median cuts at Southbay Drive/Luminary Boulevard. This prime location and substantial development potential make this property an ideal investment for discerning buyers.

    Property Features for 505 Luminary Blvd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    4,000 SF
    Lot Size
    436,036 SF

    Building Details

    Year Built
    2015
    Insight Report Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Osprey
    County
    Sarasota
    State
    Florida
    Longitude
    -82.47923
    Latitude
    27.17573

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    FAQs

    What type of property is this?
    Office Property / Space - 10-Acre Commercial Property, Prime Location
    Where is this office property / space located?
    The property is located at 505 Luminary Blvd Osprey, FL.
    What is the asking price?
    The asking price for this property is $7,499,000.
    (941) 923-0535
    Request Owner's contact information
    505 Luminary Blvd Osprey, FL 34229
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    Osprey, FL 34229
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    505 Luminary Blvd Osprey, FL 34229
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