OFFERING SUMMARY IAN BLACK REAL ESTATE is pleased to be retained as the exclusive agent for the sale of one of the last remaining rental properties on exclusive Golden Gate Point with redevelopment potential ( The Property ). This Offering includes a 100% fee simple interest in the Property, comprised of a 4 unit multi-family rental building with carports and onsite laundry facility in the prestigious Golden Gate Point Enclave. Currently operated with annual leases, the Property has potential to be converted to a seasonal rental for an increase of income. The Property s RF5 zoning allows for future redevelopment of 25 units/acre. Located in Sarasota Bay, the Property is in close proximity to new residential and hotel projects underway. Plans are being formulated to develop the Bay Front Cultural District and nearby Quay site, which will enhance the area and further improve access for pedestrians and traffic in this vibrant waterfront locale. OFFERING SUMMARY 2 New Sales Price: $900,000 Total Land Size: 7,200 SF +/- Total Building Size: 2,752 SF +/- Total Units 4 Unit Mix Four 1BR/1BA apartments 700 SF +/- each Parcel ID # 2010-08-0030 Zoning RSF 5 - (25 units/acre)
PROPERTY AERIALS Downtown Bay Front Cultural District Arts & Theatre District N Tamiami Trail Subject Property Sarasota Bay Golden Gate Point 3
PARCEL MAP Subject Property Subject Property 4
AREA DEVELOPMENTS 11 10 9 8 7 12 St Armand & Longboat Key Tamiami Trail Fruitville Road 1 2 3 4 5 6 7 8 9 10 11 12 One88 (8 units) Aqua (8 units) Subject Property The Pearl (8 units) Allure (10 units) One Palm (139 units)/aloft Hotel The Jewell (19 units) Hotel Sarasota Embassy Suites The Quay (695 units proposed) Westin Hotel The Vue (141 units) Tamiami Trail Golden Gate Point 1 2 3 4 5 6 5 Subject Property
AREA INFORMATION Lido Beach Golden Gate Point Sarasota Bay Van Wezel Performing Arts Hall Gulf of Mexico St Armand Key Sarasota Bay Location The Property (currently a 4 unit multi-family building with carports), located at 161 Golden Gate Point in Downtown Sarasota, Florida is a strong rental property and offers an opportunity to convert to a seasonal rental property or to take advantage of the desirable location as a residential redevelopment site. Situated on a peninsula in the Sarasota Bay, near the future Bay Front Cultural District and minutes from a multitude of theaters, shops and restaurants in Downtown Sarasota, the Property offers great views and a quieter way of life. Future development will realize the full advantage of this vibrant location and the aesthetics of upscale professionals and residents, while offering a bit more quiet than bustling Main Street. Close proximity to exciting hotel, residential and multi-family developments underway in Sarasota assure the Property will be invaluable for a developer, offering the following key features: * RF5 zoning allows future redevelopment of 25 units/acre * Highly walkable area & nearby amenities * Existing annual leases could be converted to seasonal rentals * Immediate proximity to exciting new development projects * Quiet surroundings minutes from hustle & bustle * Affluent & highly educated demographic profile Sarasota Sarasota is located an hour south of Tampa and is renowned as the cultural capital of the state whose quality and depth rivals some of the largest urban centers in the country. In a recent study, it was shown that only Manhattan spent more than Sarasota in the nation on the arts! The City is renowned for its cultural and environmental amenities, beaches, resorts, connections to the Ringling family and its school of architecture. The current official limits include Sarasota Bay and several barrier islands between the Bay and the Gulf of Mexico. Metropolitan Sarasota has an expanding population and is a principal city of the Bradenton-Sarasota-Venice Metropolitan Statistical area and the seat of Sarasota County. Forbes has named Sarasota one of the best places for business and careers, and Money magazine recognized it as the nation s best small city, one of the best places to retire, and one of the cities with the best health care systems. The islands separating Sarasota Bay from the Gulf near the city include Bird, Lido and Longboat Keys, and further south is Siesta Key, all famous worldwide for the quality of their white sandy beaches. Projects currently underway in Downtown Sarasota are several exciting new residential developments including The Jewel, The Vue, The Sansara, and retail projects including Hotel Sarasota. Sarasota County Sarasota County is part of the Tampa Bay Metropolitan region. According to the U.S. Census Bureau, the county has a total area of 725 square miles, of which 556 square miles is land and 169 square miles (23.4%) is water. The County Seat is Sarasota and the region is famous for its sugar sand beaches, amazing quality of life, world class hotels, shopping, cultural events such as the Film Festival, Opera and Ballet seasons and much more. Full-time and seasonal residents from St. Petersburg/Tampa to Venice/North Port travel to Sarasota for shopping, cultural events, and services. Marina Jack 6
DEMOGRAPHICS - 5 MILES 7
MAPS / CONTACT INFORMATION For more information or to schedule a private tour contact: Golden Gate Opportunity Michele Fuller, Partner C 941.228.4189 Michele@ian-black.com Stacy Rosenberg C 727.488.4814 Stacy@Ian-Black.com Subject Property 72 Subject Property IAN BLACK REAL ESTATE 1 S School Ave, Suite 6007 Sarasota, FL 34236 941.906.8688 OFFICE 941.906.8228 FAX 8 Information deemed reliable but not guaranteed. Prices subject to change without notice.