2301 Tamiami TrlNokomis, FL 34275

Property Details for 2301 Tamiami Trl

Year built

1988

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Property size (Sq ft)

693 SF

Zone code

CI

Property type

Retail space

APN

0161-10-1002

APU

161101002

Description

This exceptional 4.1-acre development opportunity in Nokomis, Florida, presents a prime location on South Tamiami Trail, boasting 700 linear feet of high-visibility frontage. The cleared lot, zoned OPI, enjoys a daily traffic count of 37,000 vehicles, ensuring maximum exposure for any development. With excellent ingress and egress, the site is ideally situated amongst residential communities, medical offices, commercial businesses, and restaurants. The 182,100 square foot potential development allows for diverse uses, including medical and traditional office spaces, as permitted by the OPI zoning. Future land use designations also permit office, multifamily residential (up to 45ft height and 13 units per acre, or 26 with ADUs). The property's strategic location, combined with its size and zoning flexibility, makes it an attractive investment for developers seeking a high-impact project in a thriving market. Owner financing is available, and the possibility of subdividing the lot exists. This is a rare chance to acquire a ready-to-develop site with significant potential for substantial returns. The asking price is $3,500,000, with a price per square foot of $19.22.

• CAP approach

  CAP return

  Valuation

  6%

  $270,223

  6.5%

  $249,437

  7%

  $231,620

• Comparable approach

  Method

  Valuation

  Relative Method

  $350,337

  Geo Method

  $318,938

• Alternative Use

  Use

  Valuation

  Residential

  $210,409

  Hospitality

  $192,734

  Educational

  $160,352

  Medical

  $165,867

  Retail

  $249,437

Location Insight

City

Nokomis

County

Sarasota

State

Florida

Latitude

27.1558

Longitude

-82.4702

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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