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SARASOTA, Fla. (September 17, 2019) – Senior Advisor, Mike Migone,CCIM of SVN Commercial Advisory Group recently coordinated the sale of a 1.44 acre parcel of land in Sarasota, FL. Tembo Enterprises, LLC, was the seller. The buyer was Tamiami Trail Apartments, LLC. Purchase price was $1,975,000. Migone represented both sides of the deal.

Tamiami Trail Apartments, LLC plans to develop the land into a four floor multifamily apartment complex consisting of 47-units.

“It was the only available property in the area with entitlements already in place for 47 apartment units. We closed on the neighboring land last year, which is now being developed into a Starbucks. Both of those factors, plus its proximity to Ringling College, made it very appealing to potential buyers,” said Migone concerning the deal.

Tamiami Trail Apartments, LLC plans to break ground on the development sometime in the last quarter of the year.


Matt Christian, Managing Director
SVN Commercial Advisory Group
Office: 941-343-4520

Mike Migone, Senior Advisor
SVN Commercial Advisory Group
Office: 941.487.6986


About SVN Commercial Advisory Group

SVN Commercial Advisory Group, is a full service commercial real estate brokerage firm. We provide commercial real estate services to large corporations, middle market businesses and individual entrepreneurial investors. Serving the greater Tampa Bay area, we offer advisory services for the sales, leasing, and management of commercial properties locally, regionally and nationally. Our Advisors provide creative solutions in order to help you achieve your goal.

The Advisors at SVN Commercial Advisory Group have a deep understanding and vast experience with a wide variety of aspects of all investment real estate. Our specialized teams can provide competent guidance to you, your clients or your investors. We have brokered, consulted, managed and provided a wide variety of real estate services across the country.