Nokomis, FL 34275,424 ALBEE RD W
Nokomis, FL 34275,424 ALBEE RD W
Nokomis, FL 34275,424 ALBEE RD W
Nokomis, FL 34275,424 ALBEE RD W
Nokomis, FL 34275,424 ALBEE RD W
Nokomis, FL 34275,424 ALBEE RD W
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$1,800,000

$2,250,000

20.0%
Est.Price: ?

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Est. payment /mo

1.33 Acres Lot


SOLD DATE : 12/21/2023

Key Details

Sold Price $1,800,000

Property Type Vacant Land

Listing Status Sold

Purchase Type For Sale

Subdivision Acreage & Unrec

MLS Listing ID N6128513

Sold Date 12/21/23

Construction Status No Contingency

HOA Y/N No

Originating Board Stellar MLS

Annual Tax Amount $7,908

Lot Size 1.330 Acres

Acres 1.33

Lot Dimensions 242X240

Property Description

This property presents an exceptional investment opportunity nestled in the heart of Nokomis Beach, just west of Tamiami Trail and a mere six blocks from the pristine shores of the affluent Casey Key. Currently, it boasts immediate income generation through three distinctive and meticulously maintained apartments. What sets this property apart is its strategic positioning for upscale condominium development on its expansive 1.33-acre lot, holding the multi-family (RMF1) zoning. Notably, the Sarasota County building department has already granted preliminary approval for the construction of up to 16 condominiums on this site, underscoring its substantial development potential.

Nokomis Beach is a rapidly evolving area, marked by significant growth within Sarasota County. The region's appeal is further emphasized by nearby developments, including preliminary approvals for both retail and condominium projects situated across the street, along with additional expansive residential initiatives to the west. The presence of the three existing income-generating seasonal rental apartments offers a unique opportunity to offset operational costs while concurrently pursuing further development plans, permitting, and infrastructure improvements. Additionally, the property is conveniently connected to County water, with County sewer readily available at the curb.

The property's location is truly exceptional, positioned within a short six-block distance to Nokomis Beach, in close proximity to Tiki Bars, restaurants, and shopping establishments. It also provides convenient access to a range of attractions, including North Jetty Park, Venice Jetty, Legacy Trail, The Island of Venice, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and all major area airports. Furthermore, private air travel options are readily accessible on The Island of Venice.

Additionally, the current owner is open to exploring a Joint Venture for the development of the Sarasota County-approved condominium plans. Further details are available upon request, contingent upon the execution of a Non-Disclosure Agreement. This property offers a prime investment opportunity for discerning investors and developers seeking a remarkable project in this flourishing area. Must have an appointment to view the property.

Location

State FL

County Sarasota

Community Acreage & Unrec

Zoning RMF1

Direction W

Exterior

Fence Fenced, Other

Utilities Available Cable Connected, Public, Sewer Available, Sewer Nearby, Sprinkler Well, Water Connected

Waterfront false

View Garden, Pool, Tennis Court, Trees/Woods

Building

Lot Description Central Business District, In County, Landscaped, Level, Near Marina, Near Public Transit, Oversized Lot, Private, Sidewalk, Paved

Lot Size Range 1 to less than 2

Sewer Public Sewer, Septic Tank

Water Public

Construction Status No Contingency

Schools

Elementary Schools Venice Elementary

Middle Schools Venice Area Middle

High Schools Venice Senior High

Others

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

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Stellar MLS
Listed by AYERS AND ASSOCIATES REAL ESTATE
Bought with AYERS AND ASSOCIATES REAL ESTATE

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