424 Albee Road West

Nokomis, FL 34275

$1,800,000
Last Sold Price
57,953 / 1.33
Lot Size / Acres

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.
  1. Listed by Kelley Ann Ayers • AYERS AND ASSOCIATES REAL ESTATE
  2. Listed by Katheren Ayers • AYERS AND ASSOCIATES REAL ESTATE

Property Details for 424 Albee Road West

Subdivision Name
ACREAGE & UNREC
Township
38
View
Garden, Pool, Tennis Court, Trees/Woods
Waterfront
No

Location

Listing Courtesy of AYERS AND ASSOCIATES REAL ESTATE, Kelley Ann Ayers; AYERS AND ASSOCIATES REAL ESTATE, Katheren Ayers

Sold By AYERS AND ASSOCIATES REAL ESTATE, Kelley Ann Ayers; AYERS AND ASSOCIATES REAL ESTATE, Katheren Ayers

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LISTING UPDATED: 12/21/2023 12:20 PM

Property Details for 424 Albee Road West

StatusSold
MLS #N6128513
Days on Market81
Taxes$7,908 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand
Year Built-
Lot Size1.33 AC
CountySarasota County

Location

Listing Courtesy of AYERS AND ASSOCIATES REAL ESTATE, Kelley Ann Ayers; AYERS AND ASSOCIATES REAL ESTATE, Katheren Ayers

Sold By AYERS AND ASSOCIATES REAL ESTATE, Kelley Ann Ayers; AYERS AND ASSOCIATES REAL ESTATE, Katheren Ayers

Add your commute

Building Information for 424 Albee Road West

Lot Size1.33 AC

Payment Calculator

$10,482 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,823

Property Taxes

$659

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 424 Albee Road West

Summary
Location and General Information
  • Building Area Units: Square Feet
  • Direction Faces: South
  • Directions: West on Albee Road, 4 blocks on the right.
  • Elementary School: Venice Elementary
  • Middle Or Junior School: Venice Area Middle
  • High School: Venice Senior High
  • Mls Major Change Type: Sold
  • Major Change Type: Closed
  • Listing Service: Full Service
  • Road Frontage Type: County Road
  • SW Subdiv Community Name: Nokomis
  • Street Number: 424
  • Street Name: ALBEE
  • Street Suffix: ROAD
  • Street Direction Suffix: W
  • State: FL
  • City: NOKOMIS
Taxes and HOA Information
  • Association: No
  • CDD: No
  • Tax Legal Description: BEG AT THE NE COR OF SE 1/4 OF SW 1/4 OF SEC 36-38-18 TH S ON THE E LINE OF SE 1/4 OF SW 1/4 897.5 FT TO THE N R/W LINE OF ALBEE RD TH N 88-28 W ALONG N R/W 653 FT TH N 880.5 FT TH
  • Tax Lot: 26
  • Tax Year: 2022
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Property
Lot Information
  • Additional Parcels: No
  • County Land Use Code: 8
  • County Property Use Code: 8
  • Current Adjacent Use: Multi-Family
  • Current Use: Residential
  • Easements: Electric Lines
  • Future Land Use: RMF-9 acre
  • Lot Features: Central Business District, In County, Landscaped, Level/Flat, Near Marina, Near Public Transit, Oversized Lot, Private, Sidewalk, Street Paved
  • Lot Size Dimensions: 242X240
  • Parcel Number: 0171110034
  • State Land Use Code: 8
  • State Property Use Code: 8
  • Total Acreage: 1 to less than 2
  • Water Access: No
  • Water Extras: No
  • Zoning: RMF1
  • Zoning Compatible: Yes
  • Lot Dimensions: 242X240
Property and Assessments
  • Flood Zone Code: AE
  • Flood Zone Date: 11-04-2016
  • Flood Zone Panel: 12115C0239F
  • Number Of Lots: 1
  • Public Survey Range: 18
  • Public Survey Section: 36
Utilities
  • Sewer: Public Sewer, Septic Tank
  • Utilities: Cable Connected, Public, Sewer Available, Sewer Nearby, Sprinkler Well, Water Connected
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Fencing: Fenced, Other
  • Front Footage: 242
  • Other Structures: Other
  • Pool: None
  • Pool Private: No
  • Vegetation: Mature Landscaping, Trees, Trees/Landscaped
  • Waterfront Feet Total: 0
Interior Features
  • Living Area Units: Square Feet
  • Water View: No

Property History for 424 Albee Road West

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of AYERS AND ASSOCIATES REAL ESTATE, Kelley Ann Ayers; AYERS AND ASSOCIATES REAL ESTATE, Katheren Ayers

The information is being provided in part by Southwest Florida Multiple Listing Service, Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2, and MarcoMls. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Southwest Florida Multiple Listing Service and MarcoMls. All Rights Reserved. The data relating to real estate for sale displayed on this website comes in part from the Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2 and MarcoMls. Properties listed with brokerage firms other than Compass are marked with the "BR House" logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the Naples MLS BR Program, or contained in the database compilation of Naples MLS.