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424 Albee Road W, Nokomis, FL 34275
$1,800,000
424 Albee Road W, Nokomis, FL 34275View this property at 424 Albee Road W, Nokomis, FL 34275
424 Albee Road WNokomisFL34275
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Property Description
This property is a prime investment opportunity situated in the heart of Nokomis Beach, just six blocks from the pristine beaches of the affluent Casey Key. It currently offers immediate income through three unique and well-maintained apartments. The most exciting element here is the fact that the property is strategically positioned for luxury condominium development on its expansive 1.33-acre lot, currently zoned multi-family (RMF1). The Sarasota County building department has already approved preliminary plans for up to 16 condominiums on this site, highlighting its development potential. The main existing residence is of historical significance, believed to have been Dr. Albee's first residence in the area, and it exudes the classic charm of a 1940s "Old Florida" beach house. While updated with modern amenities, this residence now features two apartments, one on each level, plus a third apartment in a separate building. All three are ready for immediate income generation. These apartments are fully furnished, equipped with kitchens and essentials, and meticulously maintained. The property boasts lush grounds with a swimming pool, spa, soft tennis court (also suitable for pickleball), outdoor patios, and mature Florida landscaping. Nokomis Beach is a rapidly developing area, currently experiencing significant growth in Sarasota County. Nearby developments underscore the region's desirability, with preliminary approvals for retail and condominiums across the street and on adjacent properties. The three existing income-generating apartments provide an opportunity to offset carrying costs while working on further development plans, permitting, and infrastructure. Moreover, the property is already connected to County water, with County sewer available at the curb. The location is superb, just six blocks to Nokomis Beach, Tiki Bars, restaurants, and shopping, and offers easy access to various attractions such as North Jetty Park, Venice Jetty, Legacy Trail, The Island of Venice, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and all area airports. Private air travel options are also accessible on The Island of Venice. The seller has consistently generated substantial monthly income through seasonal vacation rentals, with income information available upon request with a signed non-disclosure agreement. Developers and investors recognize this as a once-in-a-lifetime opportunity to develop property in this special part of Sarasota County. Viewings are strictly by appointment only, with unauthorized entry onto the property prohibited.
Full Property Details
Full Property Details for 424 Albee Rd W
General
- Sold For: $1,800,000
- Taxes: $7,908 (2022)
- Status: Closed
- Type: Triplex
- MLS ID: N6128512
- Added to Site: 220 day(s) ago
Rental Information
- Min. Lease: 1-7 Days
Interior
- Interior Features: Cathedral Ceiling(s), Ceiling Fans(s), Eating Space In Kitchen, Kitchen and Family Room Combination, L Dining, Living Room/Dining Room Combo, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Open Floorplan, Other, Solid Wood Cabinets, Vaulted Ceiling(s), Window Treatments
- Furnishings: Furnished
- Flooring: Carpet, Ceramic Tile, Hardwood
Rooms
Other Rooms
- Laundry: Corridor Access, Inside, In Garage, Outside
Additional Information
- Pool: Yes
- Private Pool: Yes
- Pool Description: Gunite, In Ground, Screen Enclosure
- Spa: Yes
- Spa Description: In Ground
- Security/Safety: Closed Circuit Camera(s)
Exterior
- Exterior Features: Balcony, Lighting, Outdoor Grill, Private Mailbox, Storage, Tennis Court(s)
- Deck/Patio: Covered, Deck, Enclosed, Front Porch, Patio, Porch, Rear Porch, Screened, Side Porch
- Porch/Patio/Deck: Covered, Deck, Enclosed, Front Porch, Patio, Porch, Rear
Parking
- Garage: Yes
- Garage Spaces: 1
- Covered Spaces: 1
Location
- Area: 34275 - Nokomis/North Venice
- County: Sarasota
- Development Name: 34275 - Nokomis/North Venice
- Subdivision: ACREAGE & UNREC
- Driving Directions: from Tamiami Trail go west on Albee Rd- property is 3 blocks on right
School Information
- Elementary School: Venice Elementary
- Middle School: Venice Area Middle
- High School: Venice Senior High
Community
- Community Name: 34275 - Nokomis/North Venice
- Community Features: Fishing, Pool, Sidewalk, Tennis Courts, Water Access
- Pet Restrictions: small dogs only
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Electric
Utilities
- Sewer: Septic Tank
- Water: Public
- Utility Description: Cable Connected, Electricity Connected, Private, Public, Sewer Available, Sewer Nearby, Water Connected
Structural Information
- # Buildings: 3
- Description/Design: Elevated, Walk-Up
- Exterior Const.: Block, Concrete, Stucco, Wood Frame
- Roof: Shingle
- Windows: Blinds, Shades, Window Treatments
- Stories/Levels: Two
- Square Feet: 3,034
- Sq. Ft. Source: Public Records
- Living Area: 3,034 Sq. Ft.
- Year Built: 1945
Additional Structures
- Other Structures: Cabana, Guest House, Shed(s), Storage, Tennis Court(s)
Lot Features
- Property View: Garden, Pool
- Lot Size (Acres): 1.33
- Lot Size (Sq. Ft.): 57,953
- Lot Dimensions: 242 x 240
- Frontage: Street Paved
- Street/Road Desc.: Paved, Asphalt
- Lot Features: In County, Level, Near Marina, Near Public Transit, Oversized Lot, Sidewalk, Street Paved
- Rcmdd Zoning: RMF1
Financial Considerations
- Tax Amount: $7,908
- Tax Year: 2022
Disclosures and Reports
- Buyer’s Brokerage Compensation: 2.5%
- Ownership: Fee Simple
- Special Conditions: None
- 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
- Flood Zone Info: AE
- Disclosures/Reports: Lead Paint
- APN: 171110034
- Property ID: 171110034
Listed and Sold by Ayers and Associates Real Estate
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Schools
Schools serving 424 Albee Rd W
School District:Sarasota County School District
Rating | Name | Grades | Distance |
---|---|---|---|
1900 Laurel Rd E, Nokomis, FL 34275 | PK-8 | 2.1 mi | |
1 Indian Ave, Venice, FL 34285 | 9-12 | 2.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 424 Albee Rd W
Date
Details
Price
Change
Source
12/21/2023
Sold
$1,800,000
-20%
MLS
9/26/2023
Listed
$2,250,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
424 Albee Road W, Nokomis, FL 34275 (MLS# N6128512) is a Triplex property that was sold at $1,800,000 on December 21, 2023. Want to learn more about 424 Albee Road W? Do you have questions about finding other Triplex real estate for sale in Nokomis? You can browse all Nokomis real estate or contact a Coldwell Banker agent to request more information.