$3,850,000

Description

HIGH-VISIBILITY FOUR-PARCEL COMMERCIAL ASSEMBLAGE in the heart of Englewood, offered at $3,850,000. The offering includes the vacant parcels located at 201 W Dearborn St, 251 W Dearborn St, 30 S Maple St and 250 W Green St. All former buildings have been removed, providing a cleared site ready for a buyer to pursue a coordinated development plan. Positioned along the Dearborn Street corridor near S McCall Road, with depth extending toward W Green Street and multiple potential access points, this assemblage offers expanded mixed-use potential for an investor, developer or commercial owner-user. Historic Dearborn Street is widely recognized as the vibrant heart of Englewood’s downtown business, dining and entertainment district. Lined with locally owned restaurants, cafés, shops, galleries and entertainment venues, the corridor attracts residents and visitors throughout the year. Recurring community events include the seasonal Englewood Farmers Market, monthly Cruisin’ on Dearborn car shows, the Englewood Seafood & Music Festival, fine-art and craft festivals, the Halloween Safe Walk and Englewood Pioneer Days activities and parade. These popular events generate substantial pedestrian activity and reinforce Dearborn Street’s position as one of Englewood’s principal gathering places, providing exceptional visibility and long-term redevelopment potential for this prominent commercial assemblage. A major advantage is the property’s location within the Dearborn Street Main Street Overlay District in unincorporated Sarasota County. The overlay was established to encourage pedestrian-oriented redevelopment and may offer substantial development advantages compared with conventional CG zoning. These may include significantly reduced off-street parking requirements—potentially as little as half the parking otherwise applicable to comparable development—and access to the district’s existing stormwater infrastructure. Depending upon the proposed development and county approval, this infrastructure may reduce or eliminate the need for conventional on-site stormwater-retention facilities, allowing more of the property to be devoted to buildings, parking and functional outdoor areas. More flexible setbacks, site-design standards and building-placement provisions may also allow a substantially larger and more efficient building footprint than would typically be achievable under standard CG zoning alone. With the former structures removed, the assemblage presents a compelling opportunity to design a cohesive commercial or mixed-use project within Englewood’s historic business district. The four parcels are being marketed together. The county-owned S Maple Street right-of-way is not included in the offering. Overlay incentives and development allowances depend upon the proposed use, site plan and governmental review. Buyers and buyers’ agents must independently verify zoning, overlay eligibility, permitted uses, parking reductions, stormwater requirements, allowable building coverage, setbacks, future land use, development potential, parcel boundaries, acreage, utilities, access, environmental conditions and all measurements with Sarasota County and other applicable authorities. Final parcel area is subject to legal descriptions and survey.