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    1715 Tamiami Trl Sarasota, FL 34234

    Sponsored
    For Sale
    $3,600,000

    36-Unit Apartment Project, Permits Pending

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 36-unit residential development opportunity is located at 1715 N Tamiami Trail in Sarasota, Florida, 34234. Priced at $3,600,000, this shovel-ready site boasts 36,140 sellable square feet and offers a compelling investment in a prime Opportunity Zone location. The project's planned unit mix includes four 3-bedroom, twelve 2-bedroom, and twenty 1-bedroom units. Permitting is in the final stages, representing a significant time savings of over 16 months. The seller is offering financing options with 60% LTV at a 4% interest rate. This property enjoys a highly desirable location, minutes from downtown Sarasota, the new Bay Park, and numerous cultural attractions including the Sarasota Opera House, Van Wezel Performing Arts Center, multiple theaters, New College of Florida, Ringling University, and The Ringling Museum. Its proximity to neighborhood favorites like Wicked Cantina, The Reserve, and Whitaker Park further enhances its appeal. An adjacent parcel, separately listed, offers an additional 22-unit development opportunity. This is a rare chance to acquire a fully permitted, high-potential residential development site in a thriving Sarasota location.

    Property Features for 1715 Tamiami Trl

    General Information

    Property type
    Land

    HighLights

    • $3,600,000 asking price for a 36‑unit residential development site.
    • Located at 1715 N Tamiami Trail, Sarasota, FL 34234.
    • Shovel‑ready project with permits pending, offering a 16+ month time savings.
    • 36,140 sellable square feet, including 4 three‑bedroom, 12 two‑bedroom, and 20 one‑bedroom units.
    • Seller financing available at 60% LTV and 4% interest.
    Property Profile Location Intelligence

    Current Use by Public Records

    The Strand Condominium Complex

    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
    Sarasota
    County
    Sarasota
    State
    Florida
    Longitude
    -82.547036334681
    Latitude
    27.352844073748

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    FAQs

    What type of property is this?
    Land - 36-Unit Apartment Project, Permits Pending
    Where is this land located?
    The property is located at 1715 Tamiami Trl Sarasota, FL.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: $3,600,000 asking price for a 36-unit residential development site.; Located at 1715 N Tamiami Trail, Sarasota, FL 34234.; Shovel-ready project with permits pending, offering a 16+ month time savings.
    Request Owner's contact information
    1715 Tamiami Trl Sarasota, FL 34234
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    Sarasota, FL 34234
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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
    1715 Tamiami Trl Sarasota, FL 34234
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