US 41 & West Bay Street, OSPREY

Opportunity abounds for the savvy investor who purchases this fabulous property that spans 6 tracts and 5.48 acres of ideal development land directly on Little Sarasota Bay & US 41. Currently there are three different zoning districts in place: C.G. (Commercial General), RSF-1 (Residential Single Family) and RMF-1 (Residential Multi-Family) under the Sarasota County Zoning Code, allowing for a wide variety of options for the creative & future-minded. A tremendous plus of this property is the fact that there are 2 docks which support a total of 32 boat slips. Depending on the formation of future residential building, there is the potential that each homeowner could have private dockage. Currently on site are 3 2-story apartment buildings with a total of 6 apartments as well as the charming Old Florida-style restaurant known as Spanish Pointe Pub & Restaurant (936 sq ft) with its newly expanded Tiki Hut offering an additional 1700 sqft of covered outside dining area. While these improvements and business are not without significant value, the true value lies in what it will become. The property has a future land use of Commercial Corridor. IN JANUARY 2010,SARASOTA COUNTY APPROVED CHANGES TO THE COMPREHENSIVE PLAN WHICH ALLOWS UP to 25 UNITS/PER ACRE WITH PMI (PLANNED MIXED-USE INFILL,SARASOTA COUNTY)ZONING.Please view attachments for complete and comprehensive property detail.