Mark Bower of SVN Commercial Advisory Group
manages deal on bay
Englewood, Fla. (August 12, 2022) – The purchase of 6.37 acres of land located along Lemon Bay approximately half a mile northeast of Stump Pass opens up an exciting opportunity for the new owner. The land has a special use property type with zoning that allows for both single and multi-family units. It also could allow for up to 43 dwelling units and also sits in an opportunity zone.
Currently on the Englewood property are income-producing single-family dwellings, concrete sea-walled canals, and a strip of land that borders the southernmost canal. The new owner, who owns the bordering property, acquired the land for expansion purposes.
Mark Bower, Investment Advisor for SVN Commercial Advisory Group managed the sale which closed July 19. “My client owns and operates the boat dealership, marina, and boat storage contiguous to this property so when this site became available, he saw it as a logical piece to enhance his existing operation.” The property rests in close proximity to Grove City and Rotonda Community Park. Local marinas, restaurants, golf courses, and parks also are within a short drive.
“It is a beautiful property with direct access to Stump Pass and the Gulf of Mexico,” Bower said. “That, combined with the increased population as more housing developments continue to pop up in the area and the increased boating demand that has occurred particularly since Covid. People just really appreciate being out on the water and the lifestyle that boating provides. Marinas and boat storage are in exceptionally high demand right now.”
While the exact end-use is yet-to-be-determined, this site offers a tremendous amount of value, in that it provides the new owner with many different long-term investment options.
About SVN Commercial Advisory Group
SVN Commercial Advisory Group works with large corporations, middle market businesses and individual entrepreneurial investors. The group provides advisory services for the sale, leasing and management of commercial properties. Advisors at SVN Commercial Advisory Group have deep experience working with many types of investment real estate. They serve the greater areas of Sarasota, Manatee and Charlotte counties. Our focus on moving the commercial real estate industry forward has attracted a strong and powerful team of real estate professionals. Together, we have grown the SVN® brand into a globally recognized establishment that continues to grow and prosper. For more information on the SVN Commercial Advisory Group, visit suncoastsvn.com.