424 Albee Road West
424 Albee Road West
$1,800,000
57,953 / 1.33
Sold 12/21/23
Description
This property presents an exceptional investment opportunity nestled in the heart of Nokomis Beach, just west of Tamiami Trail and a mere six blocks from the pristine shores of the affluent Casey Key. Currently, it boasts immediate income generation through three distinctive and meticulously maintained apartments. What sets this property apart is its strategic positioning for upscale condominium development on its expansive 1.33-acre lot, holding the multi-family (RMF1) zoning. Notably, the Sarasota...This property presents an exceptional investment opportunity nestled in the heart of Nokomis Beach, just west of Tamiami Trail and a mere six blocks from the pristine shores of the affluent Casey Key. Currently, it boasts immediate income generation through three distinctive and meticulously maintained apartments. What sets this property apart is its strategic positioning for upscale condominium development on its expansive 1.33-acre lot, holding the multi-family (RMF1) zoning. Notably, the Sarasota County building department has already granted preliminary approval for the construction of up to 16 condominiums on this site, underscoring its substantial development potential. Nokomis Beach is a rapidly evolving area, marked by significant growth within Sarasota County. The region's appeal is further emphasized by nearby developments, including preliminary approvals for both retail and condominium projects situated across the street, along with additional expansive residential initiatives to the west. The presence of the three existing income-generating seasonal rental apartments offers a unique opportunity to offset operational costs while concurrently pursuing further development plans, permitting, and infrastructure improvements. Additionally, the property is conveniently connected to County water, with County sewer readily available at the curb. The property's location is truly exceptional, positioned within a short six-block distance to Nokomis Beach, in close proximity to Tiki Bars, restaurants, and shopping establishments. It also provides convenient access to a range of attractions, including North Jetty Park, Venice Jetty, Legacy Trail, The Island of Venice, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and all major area airports. Furthermore, private air travel options are readily accessible on The Island of Venice. Additionally, the current owner is open to exploring a Joint Venture for the development of the Sarasota County-approved condominium plans. Further details are available upon request, contingent upon the execution of a Non-Disclosure Agreement. This property offers a prime investment opportunity for discerning investors and developers seeking a remarkable project in this flourishing area. Must have an appointment to view the property.
- Listed by Kelley Ann Ayers • AYERS AND ASSOCIATES REAL ESTATE
- Listed by Katheren Ayers • AYERS AND ASSOCIATES REAL ESTATE
Property Details for 424 Albee Road West
Subdivision Name
ACREAGE & UNREC
Township38
ViewGarden, Pool, Tennis Court, Trees/Woods
WaterfrontNo
Location
LISTING UPDATED: 12/21/2023 12:20 PM
Property Details for 424 Albee Road West
Status | Sold |
---|---|
MLS # | N6128513 |
Days on Market | 81 |
Taxes | $7,908 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Land |
MLS Type | Land |
Year Built | - |
Lot Size | 1.33 AC |
County | Sarasota County |
Location
Building Information for 424 Albee Road West
Lot Size1.33 AC
Payment Calculator
$10,482 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 424 Albee Road West
Property History for 424 Albee Road West
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 424 Albee Road West
Taxable ValueLand$486,300Additions$416,800Total$903,100
Tax Record2023$11,366 ($947 / month)
Home Facts
Baths3Total Finished SqFt1,651 SqFtAbove Grade Finished SqFt1,651 SqFtStories2Lot Size57,953 SqFtStyleMulti-Family Dwelling (2-4)Year Built1945Year Renovated1990ZoningRMF1CountySARASOTAAPN0171-11-0034Fireplace TypeHas Fireplace
Schools near 424 Albee Road West
This home is within Sarasota.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 11 | |||
Charter - | 6 to 8 |
Rating | School | Distance |
---|---|---|
Laurel Nokomis School PublicPK to 8 | ||
Venice Senior High School Public9 to 12 | ||
Island Village Montessori School CharterK to 11 | ||
Student Leadership Academy Charter6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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