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Palmetto Mixed-Use Development Opportunity

834 RIVERSIDE DRIVE, Palmetto, FL 34221

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For Sale

$3,500,000

Development site near Manatee River suitable for mixed-use projects.

Type:Land or Vacant Lot

Lot size:

3.40 Acres

HighLights

Prime 3.4+\/- acre mixed‑use development site with potential for boutique hotel, multifamily, office space, or residential condominiums with ground floor retail\/restaurants and water views.
Located steps from the Manatee River and minutes from beaches, cultural destinations, entertainment, and shopping.
Adjacent to ItWorks! corporate headquarters (200+ employees) and across from Regatta Pointe Marina, restaurants, and shops.
Potential development incentives from the City of Palmetto and the Palmetto Community Redevelopment Agency may amount to 8‑12% of total development cost.
Increased residential density allowance of up to 153 units due to a recent City‑initiated Comprehensive Plan Amendment.
Site's location in the Downtown Core is encouraged by the City of Palmetto and the Palmetto Community Redevelopment Agency.

We can help!

Listing Contact

TONY VELDKAMP, CCIM

For Sale

$3,500,000

Development site near Manatee River suitable for mixed-use projects.

Type:Land or Vacant Lot

Lot size:

3.40 Acres

Added:: Dec 8, 2024
Days on Market:: 559
Last Refresh:: Apr 5 at 9:28 pm

Property Features for 834 RIVERSIDE DRIVE

General Information

Standard status: Active
Lot size: 3.40 Acres
Property subtype: Land or Vacant Lot

We can help!

Listing Contact

TONY VELDKAMP, CCIM

Listing agent TONY VELDKAMP, CCIM License ##BK576074

Listing office SVN COMMERCIAL ADVISORY GROUP

Listing date Dec 8, 2024

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of SVN COMMERCIAL ADVISORY GROUP

HighLights

Prime 3.4+\/- acre mixed‑use development site with potential for boutique hotel, multifamily, office space, or residential condominiums with ground floor retail\/restaurants and water views.
Located steps from the Manatee River and minutes from beaches, cultural destinations, entertainment, and shopping.
Adjacent to ItWorks! corporate headquarters (200+ employees) and across from Regatta Pointe Marina, restaurants, and shops.
Potential development incentives from the City of Palmetto and the Palmetto Community Redevelopment Agency may amount to 8‑12% of total development cost.
Increased residential density allowance of up to 153 units due to a recent City‑initiated Comprehensive Plan Amendment.
Site's location in the Downtown Core is encouraged by the City of Palmetto and the Palmetto Community Redevelopment Agency.

Overview

This 3.4+/- acre mixed-use development site is located in Palmetto, Florida, near the Manatee River, and in proximity to beaches, cultural destinations, entertainment, and shopping. The property is adjacent to a corporate headquarters with over 200 employees and across the street from a marina, restaurants, and shops. The site is suitable for a boutique hotel, multifamily housing, office space, or residential condominiums with ground floor or adjacent retail and restaurants, all potentially offering water views. A portion of the site will require the construction of boat trailer parking to accommodate approximately 20-30 spaces. The net developable area will be approximately 2.5 - 3 acres. A rezone to Planned Development Multi-Use (PD-MU) is expected due to the current split zoning. Residential density on the site has been increased to 153 units through a recent City-initiated Comprehensive Plan Amendment that changed the Future Land Use (FLU) to Planned Community (PC). If a residential project is proposed, a mixed use component of retail, restaurant, and/or office space is required, and the southeast corner of the side is limited to non-residential uses. Development Incentives may amount to 8-12% of the total development cost paid back to the Developer.

Property Profile Location Intelligence

Current Use by Public Records

Commercial land

Suggested Use

Location Insight

Map
Local Demand

City: Palmetto
County: Manatee
State: Florida
Longitude: -82.5739313
Latitude: 27.5123395

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For sale
Mixed-use properties
FL
Palmetto
34221
834 RIVERSIDE DRIVE

What type of property is this?

Mixed-use property - Development site near Manatee River suitable for mixed-use projects.

Where is this mixed-use property located?

The property is located at 834 RIVERSIDE DRIVE Palmetto, FL.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: Prime 3.4+\/- acre mixed‑use development site with potential for boutique hotel, multifamily, office space, or residential condominiums with ground floor retail\/restaurants and water views.; Located steps from the Manatee River and minutes from beaches, cultural destinations, entertainment, and shopping.; Adjacent to ItWorks! corporate headquarters (200+ employees) and across from Regatta Pointe Marina, restaurants, and shops.

834 RIVERSIDE DRIVE, Palmetto, FL 34221

Development site near Manatee River suitable for mixed-use projects.

Property Features for 834 RIVERSIDE DRIVE

General Information

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Waterfront Restaurant Opportunity on US 19

Mixed-Use Land with Existing Home

High-Frontage Land Parcel

Palmetto Equestrian Center with 20 Stalls

Palmetto Medical Building on 2.24 Acres

Waterfront Land in Palmetto, FL

Exclusive Homesite in Gated Community

Waterfront Land with Gulf Access

High-Visibility Land on Moccasin Wallow

Manatee County Development Site

10 Acres in East Palmetto

Waterfront Homesite in Sanctuary Cove

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