Investment & Development Highlights

• Excellent North Trail Location! The Perfect Trifecta of 3 Parcels offering a Developer or Investor just over 2.17 Acres of Land with direct frontage on US-41. The Traffic Count from 2018 was 41,000 vehicles per day. The North Trail overlay district was instituted by the City of Sarasota to continue positive momentum of development and community enhancement.
• Currently there are 27 total income producing units in place. 25 of those are motel units with General Commercial/North Trail Zoning and 2 of the units are located in the duplex and operated as annual rentals. You can continue to operate as rentals if desired as the property is in essence turnkey.
• Ready for redevelopment on the main road from the airport to Sarasota! Close to the Ringling Museum, Downtown Sarasota, St. Armand's Circle Shopping, Siesta Key, and SRQ International Airport. Zoned NT that currently includes anything from Multifamily, Hotel, Mixed Use Development, Assisted Living Facility, Retail, and Office. Hotel, 50 units per acre. Multifamily has 35 units per acres.
• The ability to enhance the properties and continue motel and/or multifamily rentals exists or a new development with City Approval may allow substantially more units and a larger unit mix, which may cater to Ringling College, (USF) University of South Florida & New College Students. This development offers lots of possibilities, including affordable or attainable housing, possible senior housing, transitional housing, student housing among others. With the strength of the vacation market over the past few years the opportunity to enhance the current properties and focus on vacationers may also exist depending on your vision and perspective.