505 Luminary BlvdOsprey, FL 34229

Property Details for 505 Luminary Blvd

Year built

2015

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

10.01 AC

Property size (Sq ft)

4,000 SF

Zone code

OPI

Property type

Office properties

Property subtype

Office buildings

APN

0155-13-0024

APU

155130024

Description

This exceptional 10-acre commercial land parcel in Osprey, Florida, presents a prime development opportunity. Boasting over 900 feet of frontage on the highly trafficked Tamiami Trail (US41), this strategically located property is zoned OPI and offers significant development potential. An existing 4,000 square foot freestanding office building with readily available utilities (electric, water, and sewer) provides immediate income potential or a base for future expansion. The site is "shovel ready," meaning all entitlements are in place, allowing for immediate commencement of construction. Development plans can include up to 46,000 square feet of office space, or an Assisted Living Facility (ALF) at a density of 9 units per acre. Its prime location directly across from a new Publix and adjacent to thriving commercial and residential developments ensures high visibility and strong demand. Easy access to Tamiami Trail from both ends of the property via simple median cuts at Southbay Drive/Luminary Blvd further enhances its appeal. The property's APN is 0155130024, and the asking price is $7,499,000. This is a rare opportunity to acquire a substantial, fully entitled parcel in a rapidly growing area of Sarasota County. The lot size is 435,904 square feet. The address is 505 Luminary Blvd, Osprey, FL 34229.

• CAP approach

  CAP return

  Valuation

  6%

  $1,061,041

  6.5%

  $979,422

  7%

  $909,463

• Comparable approach

  Method

  Valuation

  Relative Method

  $802,438

  Geo Method

  $730,520

• Alternative Use

  Use

  Valuation

  Residential

  $1,214,483

  Hospitality

  $1,112,460

  Educational

  $925,554

  Medical

  $957,385

  Retail

  $1,439,750

Location Insight

City

Osprey

County

Sarasota

State

Florida

Latitude

27.1757

Longitude

-82.4792

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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