This centrally located, five-parcel assemblage in Sarasota’s Park East neighborhood offers
a rare redevelopment opportunity in an area experiencing ongoing growth. Totaling
approximately 35,000 square feet (350 road frontage x 100) deep or (0.80 acres), the site currently includes five income-
producing rental units bringing in a total of $8,250 per month. The property is also situated within an Opportunity Zone.
Zoning allows for mixed-use development with ground-floor commercial and multifamily
residential uses as well as hotel developments with ground-floor commercial. The
property supports a base density of 25 units per acre, with the potential to achieve up to
100 units per acre through participation in the City of Sarasota’s Attainable Housing
Density Bonus Program. Building heights of up to four stories are permitted under
current zoning.
The property is strategically located near downtown Sarasota, US-301, Fruitville Road, and
I-75, offering convenient access to local employers, retail corridors, and regional
transportation. Nearby recreational and cultural amenities include Bayfront Park, Payne
Park, Gillespie Park, and the Rosemary District.
Rental income provides holding revenue while entitlements and development planning
are pursued. Buyer is responsible for
verifying all zoning regulations, density bonuses, and development entitlements with the
City of Sarasota.