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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 presents an exceptional investment opportunity nestled in the heart of Nokomis Beach, just west of Tamiami Trail and a mere six blocks from the pristine shores of the affluent Casey Key. Currently, it boasts immediate income generation through three distinctive and meticulously maintained apartments. What sets this property apart is its strategic positioning for upscale condominium development on its expansive 1.33-acre lot, holding the multi-family (RMF1) zoning. Notably, the Sarasota County building department has already granted preliminary approval for the construction of up to 16 condominiums on this site, underscoring its substantial development potential. Nokomis Beach is a rapidly evolving area, marked by significant growth within Sarasota County. The region's appeal is further emphasized by nearby developments, including preliminary approvals for both retail and condominium projects situated across the street, along with additional expansive residential initiatives to the west. The presence of the three existing income-generating seasonal rental apartments offers a unique opportunity to offset operational costs while concurrently pursuing further development plans, permitting, and infrastructure improvements. Additionally, the property is conveniently connected to County water, with County sewer readily available at the curb. The property's location is truly exceptional, positioned within a short six-block distance to Nokomis Beach, in close proximity to Tiki Bars, restaurants, and shopping establishments. It also provides convenient access to a range of attractions, including North Jetty Park, Venice Jetty, Legacy Trail, The Island of Venice, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and all major area airports. Furthermore, private air travel options are readily accessible on The Island of Venice. Additionally, the current owner is open to exploring a Joint Venture for the development of the Sarasota County-approved condominium plans. Further details are available upon request, contingent upon the execution of a Non-Disclosure Agreement. This property offers a prime investment opportunity for discerning investors and developers seeking a remarkable project in this flourishing area. Must have an appointment to view the property.
Full Property Details
Full Property Details for 424 Albee Rd W
General
- Sold For: $1,800,000
- Taxes: $7,908 (2022)
- Status: Closed
- Type: Lots/Land
- MLS ID: N6128513
- Added to Site: 220 day(s) ago
Location
- Area: 34275 - Nokomis/North Venice
- County: Sarasota
- Development Name: 34275 - Nokomis/North Venice
- Subdivision: ACREAGE & UNREC
- Driving Directions: West on Albee Road, 4 blocks on the right.
- Direction Faces: South
School Information
- Elementary School: Venice Elementary
- Middle School: Venice Area Middle
- High School: Venice Senior High
Community
- Community Name: 34275 - Nokomis/North Venice
Utilities
- Sewer: Public Sewer, Septic Tank
- Water: Public
- Utility Description: Cable Connected, Public, Sewer Available, Sewer Nearby, Sprinkler Well, Water Connected
Structural Information
- Current Bldg. Use: Residential
Additional Structures
- Other Structures: Other
Lot Features
- Property View: Garden, Pool, Tennis Court, Trees/Woods
- Lot Size (Acres): 1.33
- Lot Size (Sq. Ft.): 57,953
- Lot Dimensions: 242 x 240
- Frontage: Street Paved, County Road
- Street/Road Desc.: Paved, Asphalt
- Lot Features: Central Business District, In County, Level, Near Marina, Near Public Transit, Oversized Lot, Sidewalk, Street Paved
- Rcmdd Zoning: RMF1
- Fencing (Description): Other
Financial Considerations
- Price Per Acre: $1,353,383
- 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
- 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# N6128513) is a Lots/Land 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 Lots/Land real estate for sale in Nokomis? You can browse all Nokomis real estate or contact a Coldwell Banker agent to request more information.