1400 Fruitville Rd Sarasota, FL 34236

Listing Agency Ian Black Real Estate LLC s***@nnnreit.com Show Phone

Listed by Stephen Horn · License #FL BK3062100

Source Crexi

Added: Mar 14, 2023 Checked: Jul 19 at 9:20 am

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Investment Insights

Based on property information with market context.

This 0.33-acre property is located at the southwest corner of Fruitville Rd and Central Avenue in downtown Sarasota. Zoned Downtown Core (DTC), the property allows for mixed-use development, including residential, multi-family, office, hotel, and retail uses. It is suited for a boutique condominium project and offers views to the west and north. The residential base density is calculated at 50 units per acre, totaling 16 units. For affordable housing, the base density is 200 units per acre, potentially accommodating 66 units. A possible configuration includes 56 market-rate units and 10 affordable units, with affordability tiers based on the Area Median Income (AMI). Specifically, one-third of the affordable units need to be priced at 80% of AMI, one-third at 100% of AMI, and one-third at 120% of AMI. Note that 15% of the units above the base density are required to be affordable.

Key Highlights

• Prime downtown Sarasota location at the corner of Fruitville Rd and Central Avenue.
• Zoned Downtown Core (DTC) allowing for mixed‑use development.
• Permitted uses include Residential, Multi‑Family, Office, Hotel, and Retail.

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FAQs

What type of property is this?

Commercial land - 0.33 acres in downtown Sarasota zoned for mixed-use development.

Where is this commercial land located?

The property is located at 1400 Fruitville Rd Sarasota, FL.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Prime downtown Sarasota location at the corner of Fruitville Rd and Central Avenue.; Zoned Downtown Core (DTC) allowing for mixed‑use development.; Permitted uses include Residential, Multi‑Family, Office, Hotel, and Retail.