$7,999,000

Seeking a Developer/Builder: The subject property is at the NorthPort, City Center at the junction of State Highway South Toledo Blade & Price Lane, in Sarasota County, which is prime for rental units or build-to-sell and has an approved permit to develop up to 269 Townhomes/Residential MFU/Homes/Villas in 26.9 acres out of the 60.3-acre parcel. This development opportunity is in Activity Center 5, North Port city, and only the last eligible parcel to have the market rate Pure residential DMP (Development Master Plan) approved. An additional 2+ acres is approved for two Mixed-use buildings, 2 additional acres for a private clubhouse, and amenity spaces for the residents’ use. The remaining 28 acres of the 60.3-acre parcel are not part of the approved DMP and can be used for the Affordable housing and or for any purpose the developer desires, and also this is not included in the price listed. Several due diligence documents/reports (Thermo-engineering/Technical, Environmental, FBB, TIS, Wetlands [- only +/-0.28 acres of certified wetlands], Species, etc.) are available to expedite the due Duediligence/review process. The Acadia Health Center is located on the North Side and is built along Citizens Parkway Road (1,250 ft) up to the edge of the subject property from Price Lane, including all utilities. All utilities are also available from the State Highway Toledo Blade Blvd (about 800 ft away from the South side of the subject property). The surrounding subject property is highly developed. The Northside border is shared with Acadia Health Plan. Further East of the subject property across Twin Lakes is developed with residential and school. The South side is developed with Bobcat Golf course and gated Bobcat community, 24/7 Medical service with Sarasota Memorial Health Care & ER. - On the immediate West side is Suncoast Plaza with Mixed development of Flats at Sundown, Fire Stone, Wawa, ALDI, Storage units, etc. - The South West Quadrant of AC5 was developed with Publix(14 businesses in this building alone which include Pizza Hut, Buffalo Wings & Rings, China Chef, Toledo Liquor & Wine, Planet Smoothie, Perfect Nails & Tan, Gulf Shores Reality, etc.), Fifth Third Bank, Burger King, Domino’s Pizza, 7-Eleven/Exxon gas station, AT&T, a Fire Station, the County School Board, multifamily units, etc. - The Northwest Quadrant is developed with Wall Greens, Advance Auto Parts, Little Caesars, etc. Additionally, the remaining 100+ acres of multiple parcels are under proposal to build a mixed-use mall. The Northeast Quadrant is developed by Kings Plastic Company. - To save premium land from the development, the Stormwater pond can be built out of the Citizens Parkway parcel. - About 20 years ago (Jan 2006), at that time, the developer paid $7,242,000 when there was no easement; (now allocated 16+ acres of separate land - Citizens Parkway). At that time, the buyer submitted plans to develop 786 multifamily 3-bedroom units, with 100 of the 60.3-acre net usability now limited to 26.9 acres of multifamily units remaining. This parcel's east side is shared with the Twinlakes, so no easement is required for the stormwater outlet, whereas the Westside properties require one.