Property Description

Under contract-accepting backup offers. Welcome to Gillespie Park, one of Sarasota’s most distinctive historic neighborhoods, where established residential streets meet the energy, growth, and convenience of Downtown Sarasota. This 5,000-square-foot parcel with DTE zoning is being offered for its land value and the existing structure is being conveyed in its present As-Is condition. A great opportunity for a developer, builder, investor, or long-term landholder seeking a strategically positioned site near the heart of the city. Downtown Edge zoning is intended to provide a transition between Sarasota’s downtown core and surrounding neighborhoods while accommodating a mix of residential and compatible nonresidential uses. The property is also located within a zoning district eligible for the City of Sarasota’s Downtown Attainable Housing Density Bonus Program, which may provide additional density opportunities for qualifying developments, subject to City requirements, approvals, development standards, and site-specific feasibility. The location adds another layer to the opportunity. Gillespie Park combines historic neighborhood character with newer construction, redevelopment, green space, and convenient access to the many destinations surrounding Downtown Sarasota. Restaurants, coffee shops, entertainment, cultural venues, the Rosemary District, Main Street, The Bay, and Sarasota’s waterfront are nearby, while St. Armands Circle, Lido Key, and the Gulf beaches are within easy reach. For those looking beyond the existing improvements and toward the potential of the site itself, this is an opportunity to control DTE-zoned land within Sarasota’s downtown area and explore what may be possible today or in the future. Buyers and developers are encouraged to independently verify zoning, allowable uses, density, setbacks, demolition requirements, utilities, and eligibility for applicable development incentives with the City of Sarasota.