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    1400 Fruitville Rd Sarasota, FL 34236

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    For Sale
    Contact for pricing

    .33-acre Multi-Family Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional .33-acre land parcel presents a unique development opportunity in the heart of downtown Sarasota, Florida. Situated at the southwest corner of Fruitville Road and Central Avenue, this property is zoned Downtown Core (DTC), allowing for a diverse range of mixed-use projects. Permitted uses include residential, multi-family, office, hotel, and retail developments. The site offers excellent views to the west and north, making it particularly well-suited for a boutique condominium project. Based on zoning regulations, the site could potentially accommodate up to 16 units under base density or up to 66 units under higher density allowances, with affordable housing requirements potentially impacting the final unit count. Specifically, higher density development would require a minimum of 10 affordable units, distributed across three AMI tiers (80%, 100%, and 120%). The property's prime location and flexible zoning provide significant potential for a high-return investment. This is a rare opportunity to acquire a strategically located development site in a thriving downtown area. The address is 1400 Fruitville Rd, Sarasota, FL 34236.

    Property Features for 1400 Fruitville Rd

    General Information

    Property type
    Multifamily properties
    Lot Size
    14,375 SF

    HighLights

    • 0.33‑acre land parcel in downtown Sarasota, Florida.
    • Located at the southwest corner of Fruitville Road and Central Avenue.
    • Zoned Downtown Core (DTC), allowing mixed‑use development including residential, multi‑family, office, hotel, and retail.
    • Excellent views to the west and north.
    • Suitable for a boutique condominium project.
    Property Profile Location Intelligence

    Current Use by Public Records

    High-rise multifamily apartments

    Suggested Use

    Dental Office Restaurant Spa & Massage Hair Salon Nail Salon Daycare Center Building Supply Clothing Store Pharmacy 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
    -82.542577277927
    Latitude
    27.338805318203

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    FAQs

    What type of property is this?
    Multifamily property - .33-acre Multi-Family Development Site
    Where is this multifamily property located?
    The property is located at 1400 Fruitville Rd Sarasota, FL.
    What are key features of this property?
    This property features: 0.33-acre land parcel in downtown Sarasota, Florida.; Located at the southwest corner of Fruitville Road and Central Avenue.; Zoned Downtown Core (DTC), allowing mixed-use development including residential, multi-family, office, hotel, and retail.
    (407) 650-3615
    Request Owner's contact information
    1400 Fruitville Rd Sarasota, FL 34236
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    Sarasota, FL 34236
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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
    1400 Fruitville Rd Sarasota, FL 34236
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