Multi-family vacant land

Vacant Land for Sale
Catylist Listing ID: 29985630
Property Subtypes: Multi-Family, Office, Residential (Single Family), Retail, Self Storage
Gross Land Area: 11.19 Acres
Sale Price: $2,750,000
Unit Price: $245,755 Per Acre
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/8/2017

Overview / Comments

Just under a mile east of I-75, this 11 acre parcel sits directly in the path of residential and commercial mixed-use development. It is currently zoned RMF-2 allowing for 100 residential multifamily units. Buyer may consider a rezone with the City of Venice to intensify the use to either CG (Commercial General) or CMU (Commercial Mixed Use). In either case, this rezone would allow for a FAR (Floor Area Ratio) of 0.5 or 50% land area coverage for an estimated 239,000 SF of vertical commercial improvements.
Contiguous land assemblage opportunities may be available.
DO NOT ATTEMPT TO TOUR SITE WITHOUT PRIOR WRITTEN PERMISSION

• 11 acres
• Zoned RMF-2 (9 units per acre)
• Current zoning allows for 100 multi-famly units
• Future land use rezone to either CG or CMU

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Tax ID/APN: 0389002007
Zoning: RMF-2
Property Visibility: Excellent
Largest Nearby Street: US-41
Area Description: 0.7 miles east of I-75 on the south side of the street.
Zoning Description: 9 Units per Acre

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 771 20,792 63,160
Median Age: 72.37 63.97 62.46
Households: 410 10,712 32,677
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