Description

Under contract-accepting backup offers. An exceptionally rare opportunity to acquire a fully renovated, income-producing, nine-unit, waterfront condominium complex locatedadjacent 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 supply-constrained coastal markets. Property Highlights: Nine (9) condominium units 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 Shared laundry and owner storage facilities Predominantly 2BR units with select 1BR and studio layoutsRenovations & Interior Upgrades: All units have recently completed extensive 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 pay laundry appliances with 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.