Active

$5,995,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 6110 sq ft
Overview
  • ID: MFRA4687297
  • Bedrooms:
  • Bathrooms: 0
  • Size: 6110 sq ft
Property Details
Remarks
An exceptionally rare opportunity to acquire an assemblage of fully renovated, income-producing, nine-unit, waterfront condominiums as an entire complex located adjacent to Turtle Beach on world-renowned Siesta Key. Coral Shores offers immediate short-term rental income opportunity, paired with long-term redevelopment and appreciation potential, in one of Florida’s most desirable and supply-constrained coastal markets. Property Highlights: • Nine (9) condominium unit assemblage, sold as a package • Just under 0.50-acre waterfront site • Direct Sarasota Bay to Gulf of Mexico access – no bridges • Four private docks with eight slips (up to ~40’+ vessels) • Heated in-ground swimming pool • Large central parking lot for tenants and guests • New shared coin laundry, ice machine and owner storage facilities • Predominantly 2BR units with select 1BR and studio layouts Renovations & Interior Upgrades: Units have recently completed renovations featuring modern coastal interiors, updated kitchens with new appliances, stone countertops and new cabinetry, glass-enclosed contemporary bathrooms, new flooring, trim, windows, and select in-unit laundry, new common coin laundry appliances with ice machine and unit storage closets, new raised HVAC units, new pool pump equipment, and more. The property is fully turnkey for continued short-term rental use. Income & Zoning Upside: Currently operating as weekly short-term rentals with strong seasonal occupancy. Zoned for low-rise condominiums (2–3 stories), with surrounding properties zoned mid-rise (4–6 stories), providing future redevelopment or density expansion potential subject to approvals. More detail is available with executed NDA.
Financial Considerations
Price:
$5,995,000
HOA Fee:
N/A
Tax Amount:
$35201
Price per SqFt:
$799.97
Tax Legal Description:
UNIT 111 CORAL SHORES,UNIT 112 CORAL SHORES,UNIT 213 CORAL SHORES,UNIT 224 CORAL SHORES,UNIT 315 CORAL SHORES,UNIT 317 CORAL SHORES,UNIT 326 CORAL SHORES,UNIT 328 CORAL SHORES
Exterior Features
Lot Size:
19231
Lot Features:
FloodZone, Near Public Transit, Sidewalk, Street Lights, Paved, Waterfront
Waterfront:
Yes
Parking Spaces:
N/A
Parking:
Common, Deeded, Ground Level, Lighted, Shared Parking
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Central, Electric
Cooling:
Central Air
Appliances:
Dishwasher, Dryer, Microwave, Refrigerator, Washer
Furnished:
No
Floor:
Ceramic Tile, Luxury Vinyl
Levels:
N/A
Additional Features
Property Sub Type:
Multi-Family 5+
Style:
N/A
Year Built:
1981
Construction Type:
Vinyl Siding, Frame, Wood Siding
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    9022 MIDNIGHT PASS RD
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