Developers and Investors, this is a rarely available opportunity to build 3-units, beach side with deeded beach access and only steps down a private lane to the beautiful azure waters of the Gulf of Mexico, and 7-time winner of America’s #1 beach, Siesta Beach! RMF-3 zoning allows for no minimal rental periods, greatly increasing the gross rental potential. Recent sales of RMF zoned properties on Siesta Key (if one can be located) have been in $1M-$1.3M+ land cost per unit. At $666k land cost per unit, there is considerable upside for a buyer/investor. Units can be pre-sold individually as condos or when complete, kept for income to take advantage of the lucrative vacation rental market on Siesta Key. Or a combination of the two strategies can be deployed. Currently there is cozy single family rental home on the property that can gross $75k+ in annual income until ready to build. An accepted LOI allows access to floor plans, elevations, renderings, proformas, appraisal etc…. Owner would consider delivering completed building on a case-by-case basis.
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Listing data comes from My Florida Regional MLS DBA Stellar MLS.
Listing information last updated on September 19th, 2021 at 12:19am EDT.