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.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
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
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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