$4,000,000

5340 N Tamiami Trail

SARASOTA FL, 34234

Description

Location, Location, Location. This Property is an Investment for the right Hotel Investor. It is a Distressed Property with lots of room to expand. It is walking distance to Universities and the International Airport and within miles of Florida Beaches. This Hotel/Motel property has 48 units and 1 Managerial Quarters; which is the size of a 2 Bedroom apartment. Its in the heart of Sarasota, minutes away from the Art District, the ever growing Universities, Muscle Car Museum, University Mall, and the International Sarasota/Bradenton Airport. It has a lot of undeveloped area and it is surrounded by new construction. Seller is looking for Developers with the ability to transform this property. Open to Construction ideas, such as Student Housing, Multi-Family Apartments, Assisted Living Facilities, or a Hotel with a bigger Footprint. Excellent Return on Investment and Cap Rate possibilities. Joint Ventures and Financing Available for the right candidate. We are reviewing several innovative real estate options. Join us in recreating and renovating the city of Sarasota.

Details

MLS#220017951
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1973
Days On Site358

Features

SQ Feet21,875
Acreage1.97
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Area Information
StateFL
CountySarasota
CitySARASOTA
Zip Code34234
AreaOA01 - Out of Area
Listing VS Median (in 34234)
Price:
$4,000,000
low | high
Med:
$4,000,000
50% of Average
SqFt:
21,875
low | high
Med:
21,875
50% of Average
$ / SqFt:
$183
low | high
Med:
$183
50% of Average
On Site:
358
low | high
Med:
358
100% of Average
Listing Updated: February 25, 2021 3:53:15 PM PST
Krystal Edwards LogoMLS Number: 220017951
Listing Provided By:
Krystal Edwards  of  Century 21 Selling Paradise

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