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Listing provided by LightBox Revere
200 S Washington BlvdSarasota, FL 34236
Downtown Sarasota Development Site
Asset ClassMultifamily, Land
A 1.39 AC +/- Development Site in Sarasota, FL - Fully Entitled for 242 Multifamily Units
Overview
Franklin Street is pleased to present a premier land sale opportunity for a fully entitled 242-unit mid-rise multifamily development. Situated in Sarasota's highly desirable downtown, the site offers future residents unparalleled access to high-end dining, shopping, and a vibrant mix of art and outdoor amenities. Located within one of Sarasota's designated opportunity zones, the property's highly accessible location positions it to capitalize on the growing demand for modern housing in one of Florida's most sought-after markets, while supporting continued economic growth within the surrounding community.
Investment Highlights
- The property is zoned DTC (Downtown Core) and is entitled for 242 multifamily units
- The property is located within an opportunity zone, which offers tax benefits to investors, such as deferral and potential elimination of capital gains taxes, and aims to fosters economic development in the community
- The Downtown Sarasota submarket is one of the most expensive and desirable urban submarkets on Florida’s West Coast. This, paired with the continued influx of new residents, highlights the strong demand for high-end living in Sarasota
- The property is located within a high growth corridor, with the 1-mile radius surrounding the subject estimated to see a population growth of 14.17% by 2030. Further, the 1-mile radius surrounding the property boasts an average household income of $135,416 and average net worth of $1,535,783, which supports the growing demand for luxury living in Downtown Sarasota
- Downtown Sarasota continues to undergo significant development as nine condominium projects are currently proposed or underway, which will add 717 condominiums and 153 hotel rooms over the coming years
- Sarasota has been ranked the #1 place to live in the US and the #4 place to retire in the US as it offers a thriving cultural scene, with world-class venues like the Sarasota Opera House, Van Wezel Performing Arts Hall, Florida Studio Theatre, and numerous galleries, museums, and live entertainment spots, attracting residents and visitors seeking a dynamic urban lifestyle
- Located just minutes from Lido Key, the property offers unrivaled access to world-class beaches and an array of outdoor recreational activities for those looking to take advantage of Florida’s iconic coastal lifestyle, contributing to Sarasota's rankings as the #3 healthiest communities in Florida
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200 S Washington BlvdSarasota, FL 34236
Sales Team
Listing provided by LightBox Revere