Property
ActiveLand
1/25
$965,000

1923 5TH STREET

Sarasota, FL 34236
0
Beds
0
Baths
0
SqFt
0.24
Acres
STELLAR
#A4682868
Updated: Jun 2, 2026, 7:38pm

Property Description

The Velocity Project presents an exceptional opportunity to acquire a shovel-ready luxury condominium development in Sarasota’s rapidly growing Gillespie Park neighborhood. This offering is structured as a true turnkey investment, with the sale including complete architectural drawings, technical reports, cost analyses, and all supporting materials needed for a smooth development process. With Development Review Committee approvals already secured and permits projected within approximately six weeks, the project is positioned for an expedited construction start.

The approved design, created by the acclaimed Solstice Architecture Firm, reflects an aesthetic influenced by the coastal architecture of Spain and Portugal. The development plans call for six generously sized residences designed with high-end finishes, modern layouts, and upscale amenities that appeal to today’s luxury buyers.

Situated on a quarter-acre site with Downtown Edge (DTE) zoning, the property benefits from a location within one of Sarasota’s most dynamic and evolving districts. Gillespie Park continues to attract strong buyer interest and investment, supported by a lively environment of local shops, dining destinations, and a diverse mix of architectural character.

This is a rare chance to move forward with a fully entitled project while avoiding the lengthy planning stages. Reach out today to obtain detailed project information, financial data, construction estimates, approved plans, and to arrange a site visit.
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Property Details

Site & Exterior
Current Use
Residential
Flood Zone Code
X
I D X Participation
Yes
Lot Size Acres
0.24
Lot Size Area
10500
Lot Size Dimensions
20629sq ft
Lot Size Square Feet
10500
Lot Size Units
Square Feet
Public Survey Range
18
Public Survey Section
19
Road Surface Type
Paved
Sewer
Public Sewer
Total Acreage
0 to less than 1/4
Utilities
Other
Water Source
Public
Zoning
DTE
Financials
Calculated List Price By Calculated Sq Ft
91.9
Contract Status Change Date
2026-02-17
Current Price
965000
Feed Types
BBO
Owner Name
ON RECORD
Ownership
Fee Simple
Parcel Number
2026090007
Price Per Acre
4020833
Public Survey Township
36
Tax Annual Amount
7207
Tax Block
3
Tax Book Number
A-23
Tax Legal Description
LOTS 16 18 20 & 22 BLK 3 INWOOD PARK 1ST ADD
Tax Lot
16
Tax Year
2024
Construction
Building Area Units
Square Feet
Living Area Units
Square Feet

Neighborhood & Lifestyle

Community & Association
M L S Area Major
34236 - Sarasota
S W Subdiv Community Name
Not Applicable
Subdivision Name
INWOOD PARK FIRST ADD
Listing provided courtesy of STELLAR via IDX. Updated: Jun 2, 2026, 7:38pm.
Vlado Konatar

Listing Agent

KONA REALTY

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