133 W Bay Street

Osprey, FL 34229

This half-acre parcel boasts 100 feet of pristine bayfront land, zoned RMF1, offering significant development potential. Situated within a Special High-Density Overlay District, it has the option to up-zone to RMF2 or RMF3, making it a prime investment opportunity. The initial photo rendition showcases a model conforming to current RMF1 zoning, allowing for a structure with 15, 840 square feet of living space over parking, utilizing a buildable area of 7, 920 square feet, following County setbacks. Upzoning to RMF2 or RMF3 would enable greater levels of living space, maximizing the land's potential. This property is ideal for developing luxury condominiums, creating a luxury compound, or constructing a high-end single-family residence, all while preserving the existing duplexes. Additionally, a newly constructed 150-foot dock with ample mooring space for multiple boats is in place, with room for expansion. Located in the flourishing Osprey Village-Spanish Point area, one of Sarasota County's fastest-growing bayfront communities, it offers a unique investment opportunity. Presently, the property features a distinctive 4-Plex, consisting of two duplexes with two addresses on a single parcel. Notably, the 4-Plex is connected to County water, and County sewer and a central gas line are accessible within 150 feet. The neighboring Parrot Cove is developing nine multi-million-dollar homes to the north, while 49 luxury townhouses have been approved to the southeast at the corner of Tamiami Trail, and 22 luxury condos are proposed a block south. The existing duplexes provide immediate occupancy or income-generating potential while you work on plans and permitting, perhaps even serving as a construction office. Enjoy breathtaking bay views across to North Casey Key, mesmerizing sunsets, and an unobstructed view reminiscent of a century ago. The property features a private beach area with a firepit, pathways, and mature natural Florida landscaping, including a 150-year-old Grand Oak Tree. The four existing residences are classic open loft bungalows from the 1950s, updated with modern amenities while preserving their historic charm. They are turnkey ready for immediate occupancy. Additional information is available upon request. Located west of The Trail, this property offers easy access to Historic Spanish Point, numerous restaurants, and shopping. Nokomis Beach, Legacy Trail, Siesta Key, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and The Island of Venice are all within convenient reach. Moreover, various private air travel options are accessible from The Island of Venice. For developers, this is a once-in-a-lifetime opportunity to transform a bayfront property in a truly special part of Little Sarasota Bay. Appointments are required for viewings, and entry onto the property is strictly by appointment only.

Listing courtesy of AYERS AND ASSOCIATES REAL ESTATE



Listing information is provided by Participants of the Stellar MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2023, Stellar MLS.
Data last updated at: 2023-10-04 09:05 AM EDT