9022 MIDNIGHT PASS RD, SARASOTA, FL, 34242
$6,500,000
Commercial Sale
|
Living Area
6,110 Sqft
|
Lot Size
19,231 Sqft
|
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. Call listing agent to obtain NDA.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRA4687297 | Year Built: | 1981 | |
| Appliances: | Dishwasher, Dryer, Microwave, Refrigerator, Washer | Community Features: | Beach Area, Sidewalks, WiFi/Common Internet Service | |
| Construction Materials: | Vinyl Siding, Frame, Wood Siding | Cooling: | Central Air | |
| Country: | US | County Or Parish: | Sarasota | |
| Electric: | 100 Amp Service, 200+ Amp Service, Service - 110 Volts, 220 Volts, Separate Meters | Flooring: | Ceramic Tile, Luxury Vinyl | |
| Foundation Details: | Slab | Heating: | Central, Electric | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Commercial Financing | |
| Lot Features: | FloodZone, Near Public Transit, Sidewalk, Street Lights, Paved, Waterfront | Occupant Type: | Tenant | |
| Parking Features: | Common, Deeded, Ground Level, Lighted, Shared Parking | Pets Allowed: | Yes - See Condo Docs | |
| Possession: | Close Of Escrow | Property Condition: | Completed | |
| Property Sub Type: | Multi-Family 5+ | Property Type: | Commercial Sale | |
| Road Frontage Type: | County Road | Road Responsibility: | Public Maintained Road | |
| Road Surface Type: | Asphalt, Paved | Roof: | Shingle | |
| Security Features: | Closed Circuit Camera(s) | Sewer: | Public Sewer | |
| Showing Requirements: | 24 Hour Notice, Appointment Only, Call Listing Agent, Listing Agent Must Accompany, See Remarks, ShowingTime | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | BB/HS Internet Capable, Electricity Available, Natural Gas Available, Phone Available, Public, Water Connected | Water Source: | Public | |
| Waterfront Features: | Bay/Harbor, Bayou, Gulf/Ocean to Bay, Lagoon | Window Features: | Aluminum Frames, Blinds, Drapes, Rods, Storm Window(s), Window Treatments | |
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