9022 MIDNIGHT PASS RD, Sarasota, FL 34242

This is a rare opportunity to acquire a fully renovated, income-producing, nine-unit, waterfront condominium complex. Located adjacent to Turtle Beach on Siesta Key, the property, named Coral Shores, offers immediate short-term rental income opportunity, paired with long-term redevelopment and appreciation potential. The property is just under 0.50-acre waterfront site with direct Sarasota Bay to Gulf of Mexico access without bridges. The property has four private docks with eight slips that can accommodate vessels up to approximately 40 feet. The property includes a heated in-ground swimming pool and a large central parking lot for tenants and guests. Shared laundry and owner storage facilities are available. The property consists predominantly of 2-bedroom units with select 1-bedroom and studio layouts. All units have recently completed extensive renovations featuring modern coastal interiors, updated kitchens with new appliances, stone countertops and new cabinetry, glass-enclosed contemporary bathrooms, new flooring, trim, windows, and select in-unit laundry. New common pay laundry appliances with storage closets, new raised HVAC units, and new pool pump equipment have been installed. The property is fully turnkey for continued short-term rental use. Currently operating as weekly short-term rentals with strong seasonal occupancy. Zoned for low-rise condominiums (2–3 stories), with surrounding properties zoned mid-rise (4–6 stories), providing future redevelopment or density expansion potential subject to approvals.