1419 & 1427 7th St
$997,500, 1,903 Sqft .31 Acres
About This Property
This is one of the few remaining prime development sites in the red hot Rosemary District. There are 13,350 square feet of DTE Rosemary Overlay District, which can handle a 5-story 22-residence condominium or mixed use project. Rosemary Overlay District allows 75 homes per acre. It is just 100 feet off busy Central Avenue and only blocks away from Sarasota Bay, bustling downtown Sarasota and the arts and entertainment district. Newly invigorated Rosemary District now offers many restaurants, art galleries and shopping and design opportunities. While you are waiting to design and develop, there are two buildings onsite with income of over $2,100 per month and 11 paved parking spaces, with built-in lease increases every year. The commercial use building is an NNN lease. The two-bedroom, one-bath residential unit is leased on a month-to-month basis, enabling the buyer to use as they see fit after closing day. While the second building is leased for six more years, over $150,000 in building improvements and the newly paved parking areas have been made in the last 12 months. The residential unit could be added to the potential use for the second building for future use, or for a completely different purpose. New roofs installed on both buildings in 2006. Both buildings tented for WDO in 2017. Lister has a list of sales in the Rosemary District for review and for comparison purposes. The Rosemary District has finally arrived. Don’t wait a minute longer. Call the associate directly for specific showing times.
BB/HS Internet Capable, City Water, Electric, Public Sewer, Public Utilities, Public Water, Telephone
Activity Core/Center, Central Business Distric, Historic District, In City Limits, Neighborhood, Street Paved
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Listing data comes from My Florida Regional MLS.
Listing information last updated on February 20th, 2018 at 2:19pm EST.