9022 Midnight Pass Road, Siesta Key, FL 34242
- $5,995,000
- 6,110
- SqFt
- List Price
- $5,995,000
- Price Change
- ▼ $505,000 1785790508
- MLS#
- A4687297
- Type
- Multifamily
- Living Area
- 6,110
- Lot Size
- 19,231
- Subdivision
- Coral Shores
- Complex
- Coral Shores
- Year Built
- 1981
Property Description
An exceptionally rare opportunity to acquire an assemblage of fully renovated, income-producing, nine-unit, waterfront condominiums as an entire 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 desirable and supply-constrained coastal markets. Property Highlights: • Nine (9) condominium unit assemblage, 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 • New shared coin laundry, ice machine and owner storage facilities • Predominantly 2BR units with select 1BR and studio layouts Renovations & Interior Upgrades: Units have recently completed 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 coin laundry appliances with ice machine and unit 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.
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Additional Information
- Community Features
- Beach Area, Sidewalks, WiFi/Common Internet Service, No Deed Restriction
- Style
- Multi-Family 5+
- Appliances
- Dishwasher, Dryer, Microwave, Refrigerator, Washer
- Exterior Construction
- Vinyl Siding, Frame, Wood Siding
- Roof
- Shingle
- Located Near
- FloodZone, Near Public Transit, Sidewalk, Street Lights, Paved, Waterfront
- Utilities
- BB/HS Internet Capable, Electricity Available, Natural Gas Available, Phone Available, Public, Water Connected
- Garage
- Common, Deeded, Ground Level, Lighted, Shared Parking
- Floor
- Ceramic Tile, Luxury Vinyl
- Heating
- Central, Electric
- Cooling
- Central Air
- Pool Type
- No Pool
- Water
- Sailboat Water, Boatable Water, Bay View, Bay Front, Beach Front, Beach View, Beach Access, Lake Front
- Frontage
- Bay/Harbor, Bayou, Gulf/Ocean to Bay, Lagoon
- Water View
- Yes
Listing courtesy of DREAMIFY REAL ESTATE LLC.
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