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    505 Luminary Blvd Osprey, FL 34229

    Sponsored
    For Sale
    $7,499,000

    10-Acre Shovel-Ready Site, US41 Frontage

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 10-acre commercial land parcel in Osprey, Florida, presents a prime development opportunity. Boasting over 900 feet of frontage on the highly trafficked Tamiami Trail (US41), this strategically located property is zoned OPI and offers significant development potential. An existing 4,000 square foot freestanding office building with readily available utilities (electric, water, and sewer) provides immediate income potential or a base for future expansion. The site is "shovel ready," meaning all entitlements are in place, allowing for immediate commencement of construction. Development plans can include up to 46,000 square feet of office space, or an Assisted Living Facility (ALF) at a density of 9 units per acre. Its prime location directly across from a new Publix and adjacent to thriving commercial and residential developments ensures high visibility and strong demand. Easy access to Tamiami Trail from both ends of the property via simple median cuts at Southbay Drive/Luminary Blvd further enhances its appeal. The property's APN is 0155130024, and the asking price is $7,499,000. This is a rare opportunity to acquire a substantial, fully entitled parcel in a rapidly growing area of Sarasota County. The lot size is 435,904 square feet. The address is 505 Luminary Blvd, Osprey, FL 34229.

    Property Features for 505 Luminary Blvd

    General Information

    Property type
    Land

    HighLights

    • 10‑acre commercial land parcel with existing 4,000 SF office building.
    • Over 900 feet of frontage on Tamiami Trail (US 41) in Osprey, Florida.
    • Zoned OPI, allowing for Assisted Living Facility (ALF) development at 9 units per acre and up to 46,000 SF of office space.
    • Utilities (electric, water, sewer) are in place; shovel‑ready site.
    • Excellent access to Tamiami Trail from both property ends.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -82.4792155
    Latitude
    27.1757261

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    FAQs

    What type of property is this?
    Land - 10-Acre Shovel-Ready Site, US41 Frontage
    Where is this land 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.
    What are key features of this property?
    This property features: 10-acre commercial land parcel with existing 4,000 SF office building.; Over 900 feet of frontage on Tamiami Trail (US 41) in Osprey, Florida.; Zoned OPI, allowing for Assisted Living Facility (ALF) development at 9 units per acre and up to 46,000 SF of office space.
    (941) 923-0535
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    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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