5400 Biscayne DrNorth Port, FL 34387

Property Details for 5400 Biscayne Dr

Year built

1983

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.00 AC

Property size (Sq ft)

9,384 SF

Zone code

OPI

Property type

Office properties

Property subtype

Office buildings

APN

0996-00-2911

APU

996002911

Description

This exceptional 2.009-acre commercial land parcel is strategically located at 5400 S Biscayne Dr, North Port, FL 34387. Boasting an OPI (Office, Professional, and Institutional District) zoning designation, this property presents a remarkable opportunity for diverse development. Permitted uses include office, institutional, cultural, allied, residential, and mixed-use projects, fostering live-work environments. The site benefits from exceptional visibility and accessibility, situated along Biscayne Drive, which sees an average daily traffic count of 10,900 vehicles. Furthermore, the proximity to Tamiami Trail, with its average daily traffic of 33,500 cars, ensures significant exposure. North Port's robust growth trajectory, exceeding 3% annual population increase since 2015, projects strong future value appreciation for this investment. The flexible zoning allows for both small and large-scale developments, catering to a wide range of commercial and residential needs. This prime location and zoning flexibility make this property an attractive investment opportunity with significant potential for income generation and long-term value growth. The property's potential to accommodate a variety of uses, combined with the area's consistent growth, makes it an ideal choice for developers seeking a high-impact investment in a thriving Florida market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,489,201

  6.5%

  $2,297,724

  7%

  $2,133,601

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,882,520

  Geo Method

  $1,713,800

• Alternative Use

  Use

  Valuation

  Residential

  $2,849,178

  Hospitality

  $2,609,832

  Educational

  $2,171,350

  Medical

  $2,246,026

  Retail

  $3,377,654

Location Insight

City

North Port

County

Sarasota

State

Florida

Latitude

27.0496

Longitude

-82.2471

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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