9022 Midnight Pass Road, Sarasota, FL 34242
- $6,500,000
- 6,110
- SqFt
- List Price
- $6,500,000
- Status
- Pending
- Days on Market
- 9
- MLS#
- A4687297
- Property Style
- Multi-Family 5+
- Year Built
- 1981
- Living Area
- 6,110
- Lot Size
- 19,231
- Acres
- 0.44
- Total Acreage
- 1/4 to less than 1/2
- Monthly Condo Fee
- 933
- Legal Subdivision Name
- Coral Shores
- Development Name
- Coral Shores
- MLS Area Major
- Sarasota/Crescent Beach/Siesta Key
Property Description
Under contract-accepting backup offers. An exceptionally rare opportunity to acquire a fully renovated, income-producing, nine-unit, waterfront condominium 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 supply-constrained coastal markets. Property Highlights: • Nine (9) condominium units 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 • Shared laundry and owner storage facilities • Predominantly 2BR units with select 1BR and studio layouts Renovations & Interior Upgrades: All units have recently completed extensive 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 pay laundry appliances with 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.
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Additional Information
- Taxes
- $35201
- Condo Fees
- $2800
- Condo Fees Term
- Quarterly
- Location
- FloodZone, Near Public Transit, Sidewalk, Street Lights, Paved, Waterfront
- Community Features
- Beach Area, Sidewalks, WiFi/Common Internet Service, No Deed Restriction
- Zoning
- RMF3/SKOD
- Floor
- Ceramic Tile, Luxury Vinyl
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Washer
- Utilities
- BB/HS Internet Capable, Electricity Available, Natural Gas Available, Phone Available, Public, Water Connected
- Heating
- Central, Electric
- Air Conditioning
- Central Air
- Exterior Construction
- Vinyl Siding, Frame, Wood Siding
- Roof
- Shingle
- Foundation
- Slab
- Pool
- No Pool
- Garage Features
- Common, Deeded, Ground Level, Lighted, Shared Parking
- Water Extras
- Assigned Boat Slip, Bridges - No Fixed Bridges, Fishing Pier, No Wake Zone, Seawall - Concrete
- Water View
- Bay/Harbor - Full, Bayou, Gulf/Ocean to Bay, Lagoon
- Water Access
- Bay/Harbor, Bayou, Gulf/Ocean to Bay, Lagoon
- Water Frontage
- Bay/Harbor, Bayou, Gulf/Ocean to Bay, Lagoon
- Pets
- Allowed
- Flood Zone Code
- AE
- Parcel ID
- 0000007625
- 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
Listing courtesy of DREAMIFY REAL ESTATE LLC. brokermikegrant@gmail.com
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