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Sapphire Apartments Development 4501 South Tamiami Trail, Sarasota, FL 34231
Property Description
Introducing a prime opportunity for multi-family development in the heart of Sarasota's emerging North Trail district – Sapphire South and Sapphire North.
The land currently has site plan approval, still valid until November 9, 2024 (and subject to a request for extension) for 120 units.
In addition, these sites have now been granted new opportunities, thanks to recent zoning text amendments by the City of Sarasota. With the density bonus afforded by this new zoning designation it may be possible to add a floor and increase the number of units to between 160-170 and still retain ground level parking.
The sites are in close proximity to Sarasota-Bradenton International Airport, Ringling Museum, Ringling College of Art and Design, New College, USF and the vibrant Downtown Sarasota scene.
Significant Due diligence materials are available on request.
Property consists of 2 parcels totaling 4.22 acres. Seller will consider selling both properties separately or together.
Call for offers by June 16, 2024
Highlights
Opportunity in the growing North Trail area
High demand for area rentals
Close to Sarasota-Bradenton International Airport and world renowned Ringling College of Art
Full Address: 4501 South Tamiami Trail, Sarasota, FL 34231
Listing Type: FOR SALE
Status: Active
Region: S-SE
County: Sarasota County
Property ID: 4036816
Parcel Num: 2004020003,2004070010,2004070012,2004070016
Opportunity in the growing North Trail area
High demand for area rentals
Close to Sarasota-Bradenton International Airport and world renowned Ringling College of Art