Booming River Road is home to the ‘Wellen Park Community’ (planned for 36,630 homes upon buildout).
Description
The subject site is a viable option for rezoning for up to 25 residential units per acre. Additional units may be attained due to Sarasota County valuing apartments less than 750 SF as half a unit. There is potential that the building height can be extended to 85 feet, if necessary, from the current height of 45 feet.
Site condition: Raw land with permitting in place for the access road and utilities stubbed into the lot line. Estimates for the cost of rezoning are $100,000 to $150,000; buyers will need to confirm those costs independently.
Just off of I-75 located at the corner of N River Road and E Venice Ave
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.