$6,500,000
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.
Coral Shores
SubDv.
⋅
34242
Zip Code
9022 Midnight Pass Road, Sarasota