Property Description:
This 10,125 sq ft lot is primed for redevelopment in a rapidly appreciating pocket just east of downtown. The existing structure is mold-infested and slated for demolition, leaving a clean slate for a new single-family build or potential lot split (buyer to verify with the city).
Power and water are already on site, gas is available nearby, and the property sits outside the flood zone with no HOA restrictions — making it ideal for a modern infill project or luxury spec home.
🛠️ Rehab / Build Scope
- Demolish existing structure and clear lot
- Design new single-family home to fit 10,125 sf parcel (potential for 2-unit configuration)
- Verify lot split and density options with City of Sarasota
💰 Land Comps (Recent Sales)
- 2443 Wood St – 6,750 sf lot → Sold $450,000
- 811 S School Ave – 5,200 sf lot → Sold $190,000
- 2285 Bay St – 6,750 sf lot → Sold $400,000
- 2410 Novus St – 0.31 ac (13,500 sf) lot w/ structure → Sold $535,000
🏗️ New Construction Comps (Closed / Pending)
- 850 S Shade Ave – 3 bd / 4 ba / 2,193 sf → $1,300,000 ($593/sf, 2022 build)
- 2345 Pelican Dr – 4 bd / 3 ba / 2,691 sf → $1,845,000 ($686/sf, 2024 build)
- 1323 Loma Linda Ct – 4 bd / 5 ba / 3,067 sf → $1,695,000 ($553/sf, 2025 build)
- 2425 Floyd St – 4 bd / 4 ba / 2,915 sf → $1,765,000 ($605/sf, 2024 build)
Depending on build size (≈ 2,500–3,000 sf), resale values range $1.3M – $1.8M+, supported by nearby 2024-2025 luxury infill sales.