1415 10Th StPalmetto, FL 34221

Property Details for 1415 10Th St

Year built

1951

Construction

WOOD FRAME

Lot size

0.56 AC

Property size (Sq ft)

2,079 SF

Zone code

PL_CG

Property type

Office properties

Property subtype

Office buildings

APN

26095.0000-0

APU

2609500000

Description

This exceptional 6.25-acre commercial land parcel presents a remarkable investment opportunity in Palmetto, Florida. Located at 1415 10th St E, 34221, this property boasts a highly desirable location on US Highway 301 (10th Street E), directly across from Detwiler's Farm Market and fronting the entrance to Sanctuary Cove, a prestigious waterfront community. The site benefits from a strategic position between US Highway 41 and I-75, ensuring excellent accessibility and high visibility. With a PD-MU zoning designation, the property allows for up to 160,000 square feet of commercial or retail development. A traffic light at the intersection of Sanctuary Cove Way and US Highway 301 enhances visibility and accessibility, making it particularly attractive for retail and medical users. The land offers a significant advantage with approximately 40,000 vehicles passing daily on US Highway 301. The asking price is $6,000,000, translating to $23 per square foot. This prime location, coupled with its zoning and accessibility, makes this a truly exceptional opportunity for developers seeking a high-impact commercial project in a thriving Florida market. The property is net of retention, and the land size ranges from 1.2 to 6.25 acres. Sanctuary Cove homes range in price from $550,000 to $3,000,000.

• CAP approach

  CAP return

  Valuation

  6%

  $492,328

  6.5%

  $454,456

  7%

  $421,995

• Comparable approach

  Method

  Valuation

  Relative Method

  $390,337

  Geo Method

  $379,688

• Alternative Use

  Use

  Valuation

  Residential

  $563,526

  Hospitality

  $516,187

  Educational

  $429,461

  Medical

  $444,231

  Retail

  $668,051

Location Insight

City

Palmetto

County

Manatee

State

Florida

Latitude

27.5205

Longitude

-82.5502

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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