424 Albee Road W, NOKOMIS, FL


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About 424 Albee Road W

This property is a prime investment opportunity situated in the heart of Nokomis Beach, just six blocks from the pristine beaches of the affluent Casey Key. It currently offers immediate income through three unique and well-maintained apartments. The most exciting element here is the fact that the property is strategically positioned for luxury condominium development on its expansive 1.33-acre lot, currently zoned multi-family (RMF1). The Sarasota County building department has already approved preliminary plans for up to 16 condominiums on this site, highlighting its development potential. The main existing residence is of historical significance, believed to have been Dr. Albee's first residence in the area, and it exudes the classic charm of a 1940s "Old Florida" beach house. While updated with modern amenities, this residence now features two apartments, one on each level, plus a third apartment in a separate building. All three are ready for immediate income generation. These apartments are fully furnished, equipped with kitchens and essentials, and meticulously maintained. The property boasts lush grounds with a swimming pool, spa, soft tennis court (also suitable for pickleball), outdoor patios, and mature Florida landscaping. Nokomis Beach is a rapidly developing area, currently experiencing significant growth in Sarasota County. Nearby developments underscore the region's desirability, with preliminary approvals for retail and condominiums across the street and on adjacent properties. The three existing income-generating apartments provide an opportunity to offset carrying costs while working on further development plans, permitting, and infrastructure. Moreover, the property is already connected to County water, with County sewer available at the curb. The location is superb, just six blocks to Nokomis Beach, Tiki Bars, restaurants, and shopping, and offers easy access to various attractions such as North Jetty Park, Venice Jetty, Legacy Trail, The Island of Venice, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, and all area airports. Private air travel options are also accessible on The Island of Venice. The seller has consistently generated substantial monthly income through seasonal vacation rentals, with income information available upon request with a signed non-disclosure agreement. Developers and investors recognize this as a once-in-a-lifetime opportunity to develop property in this special part of Sarasota County. Viewings are strictly by appointment only, with unauthorized entry onto the property prohibited.

Residential Income home for sale in NOKOMIS, FL at 424 Albee Road W. This Residential Income home is priced at $742/sqft

Features of 424 Albee Road W

MLS® # N6128512
Price $2,250,000
Bathrooms 0.00
Square Footage 3,034
Acres 1.33
Year Built 1945
Type Residential Income
Sub-Type Triplex
Status Active

Community Information: Nokomis

Address 424 Albee Road W
Area Nokomis/North Venice
Subdivision ACREAGE & UNREC
County Sarasota
State FL
Zip Code 34275

Amenities of 424 Albee Road W

# of Garages 1
View Garden, Pool
Is Waterfront No
Has Pool Yes

Interior of 424 Albee Road W

Interior Features Cathedral Ceiling(s), Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, L Dining, Living Room/Dining Room Combo, Master Bedroom Main Floor, Master Bedroom Upstairs, Open Floorplan, Other, Solid Wood Cabinets, Vaulted Ceiling(s), Window Treatments
Heating Electric
Cooling Central Air
Fireplace No

Exterior of 424 Albee Road W

Exterior Features Balcony, Courtyard, Garden, Lighting, Outdoor Grill, Private Mailbox, Storage, Tennis Court(s)
Lot Description In County, Landscaped, Level, Near Marina, Near Public Transit, Oversized Lot, Private, Sidewalk, Paved
Roof Shingle
Foundation Block, Crawlspace, Other

School Information

Elementary Venice Elementary
Middle Venice Area Middle
High Venice Senior High

Additional Information On 424 Albee Road W

Date Listed September 26th, 2023
Days on Market 64
Zoning RMF1
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details


Map To 424 Albee Road W, NOKOMIS

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