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Under contract-accepting backup offers. This rare coastal multifamily opportunity offers strong value-add potential in the highly sought-after Nokomis-Venice corridor, just off U.S. 41 (Tamiami Trail)"”one of the region's busiest commercial and residential corridors. The property currently consists of four units across two concrete-block buildings on a 14,130 sq. ft. lot, with flexible RMF-3 zoning that allows for expansion to a total of six units. Existing layouts include a mix of two 2BD/2BA and two 3BD/2BA units, with the potential to create four 1 BD/1BA units through strategic renovation or redevelopment. Recent capital improvements"”new roofs, multiple AC systems, renovated kitchens, and full connection to public water and sewer (2022)"”significantly reduce near-term expenses and position the property for immediate income growth. Current rents are approximately $200 below market, and occupancy stands at 50%, offering substantial upside. Durable concrete-block construction, potential in-unit laundry, patios/balconies, and central AC enhance long-term tenant appeal. The property's prime location delivers high visibility and convenient access to Nokomis Beach, Venice Island, I-75, and major Sarasota employment centers, drawing a broad and steady renter base. Importantly, only one of the two buildings has been fully renovated, leaving additional value-add potential through upgrades to the second building"”as well as the ability to increase density under existing zoning. This investment represents a rare chance to acquire a coastal multifamily asset in a supply-constrained, high-demand rental market, with both near-term income upside and long-term appreciation potential"”plus the unique opportunity to expand from four units to six.
| DAYS ON MARKET | 89 | LAST UPDATED | 2/20/2026 |
|---|---|---|---|
| TRACT | NOKOMIS | YEAR BUILT | 1972 |
| COMMUNITY | 34275 - Nokomis/North Venice | COUNTY | Sarasota |
| STATUS | Pending | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Laurel Nokomis Elementary |
|---|---|
| High School | Venice Senior High |
| PRICE HISTORY | |
| Prior to Feb 5, '26 | $849,000 |
|---|---|
| Feb 5, '26 - Today | $799,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 34275 - Nokomis/North Venice |
| CONSTRUCTION | Concrete |
| EXTERIOR | Lighting |
| HEAT | Central |
| LOT | 0.32 acre(s) |
| SEWER | Public Sewer |
| SUBDIVISION | NOKOMIS |
| TAXES | 8750.9 |
| UTILITIES | Cable Available, Cable Connected, Electricity Connected |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Marlin Yoder, HARRY ROBBINS ASSOC INC, 941-924-8346
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 3/7/26 2:25 AM PST.
This IDX solution is (c) Diverse Solutions 2026.