Downtown Sarasota Development Opportunity
For sale1802 Fruitville Road, Sarasota, FL 34236
$1,650,000
Land
Property type
Land
Price
$1,650,000
Building size
Year built
Year renovated
Occupancy
Zoning code
Lot size
0.53 Acres
Sold/status
On Market
Property description
Developable land in Downtown Sarasota is scarce. This 0.53-acre urban infill site on Fruitville Road offers excellent Fruitville Road visibility, no FAR limit, no setbacks, and zoning that permits residential, retail, office, and hotel by right — all at the entry point to one of Florida’s most supply constrained downtown markets. Offered by Truist Bank with clean title and a straightforward disposition process.
Property highlights
- Downtown-Adjacent Infill at the Gateway to Sarasota’s Core: Direct Fruitville Road frontage at the northern edge of Downtown — walkable to Main Street, the Rosemary District, and the city’s primary commercial and cultural corridors.
- Unmatched Zoning Flexibility: Downtown (DTE) zoning offers some of the most permissive development standards in the region — no FAR limit, no setbacks, 100% lot coverage, up to 10 stories, and residential, retail, office, and hotel all permitted by right. Density bonus available under 23-ZTA-03 when 15% of bonus units meet 120% AMI.
- High-Visibility Fruitville Road Frontage: 15,200 AADT on the primary artery linking I-75 to Downtown, supporting commercial, mixed-use, office, and hospitality uses.
- Strong Demographics & Sustained Demand: Average household income exceeds $107K within one mile. High-income in-migration continues to drive demand across luxury, attainable, and workforce residential segments alongside growing commercial demand.
- Scarce Supply in a High-Barrier Market: Developable downtown land is extremely limited. Demand for multifamily, boutique hospitality, and mixed-use product continues to outpace supply.
- Corporate Seller: Offered by Truist Bank, providing transparent disposition, clean title, and straightforward closing. Multiple exit strategies available including full portfolio sale, partial sale, or JV/land swap structure.
- Surrounding Retailers: Whole Foods, Sprouts, Wawa, Walgreens, and multiple restaurants are within immediate walking distance. The site is in proximity to the Rosemary District’s growing food and beverage corridor.
- Residential Development: Seven luxury multifamily projects totaling 1,480+ units have been built or are underway within a half-mile, including The District at Rosemary (286 units), ARCOS (228 units), CitySide (228 units), and Aster & Links (424 units).