1701 Tamiami TrlSarasota, FL 34234

Exceptional opportunity to acquire a 25,540-square-foot development site in Sarasota, Florida, located at 1701 N Tamiami Trail, zip code 34234. This land, priced at $2,400,000 ($80/SF), is zoned for residential development and has permits pending for a 22-unit apartment or condominium project. The proposed project includes eight 3-bedroom units, four 2-bedroom units, and ten 1-bedroom units, totaling 25,540 sellable square feet. The site benefits from a prime location, just minutes from downtown Sarasota, the new Bay Park, and numerous cultural attractions including the Sarasota Opera House, Van Wezel Performing Arts Center, and Ringling Museum. Its proximity to established businesses like Wicked Cantina and The Reserve, as well as Whitaker Park, further enhances its desirability. This is a highly sought-after Opportunity Zone location. The seller is offering financing options, including 50% LTV at a 4% interest rate, significantly reducing upfront capital requirements and accelerating project timelines. This represents a substantial time savings of over 16 months compared to starting from scratch. An adjacent parcel, separately listed, offers further expansion potential. Detailed plans and specifications are available upon request.