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: 6/15/2018

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.

• 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
The information presented herein is provided as is, without warranty of any kind. Neither My Florida Commercial Real Estate nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.