Sarasota Teardown with Massive Upside Opportunity

Description

10,125 sq ft lot located just east of Downtown Sarasota—an area seeing rapid appreciation and new luxury infill construction.
The existing structure is uninhabitable (mold-infested) and slated for demolition, offering a true blank canvas for a new single-family build or potential lot split (buyer to verify with the City of Sarasota).

Power and water are already on site, gas is nearby, and the property sits outside the flood zone with no HOA restrictions—ideal for a modern spec or custom home project.

Surrounded by high-end new construction ranging from $1.3M to $1.8M+, this parcel delivers strong upside in one of Sarasota’s most dynamic urban pockets.

Rehab / Build Angle

• Demolish existing structure and clear the lot
• Design new single-family home or two-unit configuration
• Verify density and split options with the City of Sarasota

Whether you design a ~2,500–3,000 SF home or explore a two-unit play, the neighborhood supports top-tier resale values with 2024–2025 builds trading over $600 per square foot.

Comps & Market Context

Land Comps (Recent Sales):

• 2443 Wood St – 6,750 SF lot → $450,000
• 811 S School Ave – 5,200 SF lot → $190,000
• 2285 Bay St – 6,750 SF lot → $400,000
• 2410 Novus St – 13,500 SF lot (w/ structure) → $535,000

New Construction Sales:

• 850 S Shade Ave – 2,193 SF → $1,300,000 ($593/SF, 2022 build)
• 2345 Pelican Dr – 2,691 SF → $1,845,000 ($686/SF, 2024 build)
• 1323 Loma Linda Ct – 3,067 SF → $1,695,000 ($553/SF, 2025 build)
• 2425 Floyd St – 2,915 SF → $1,765,000 ($605/SF, 2024 build)

Depending on build size and design, resale potential ranges $1.3M–$1.8M+, supported by recent luxury infill sales across the district.

Price

📍 Offered at Land Value: $379,900 + CC

A prime redevelopment opportunity with utilities in place, zoning flexibility, and strong luxury comps—a clean land-value play in Sarasota’s urban core.