9022 MIDNIGHT PASS ROAD, SARASOTA, Sarasota, FL, 34242, Commercial Sale, , 0, ba37d30ed7162510314e7d2b4e83de56, A4687297,9022,MIDNIGHT PASS

$6,500,000

Overview

Property ID: A4687297

Multi Family (5+)
Property Type

6110 Square Feet
Area Size

1981
Year Built

Description

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 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
• 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.