PALMETTO, FL 34221 834 RIVERSIDE DRIVE
$3,500,000
0 more
Presented By: SVN COMMERCIAL ADVISORY GROUP with 941-387-1200. - 941-387-1200
Home Details
This gorgeous mixed-use development site is situated in the heart of Palmetto, Florida, just steps from the Manatee River. It is minutes from pristine white-sand beaches, cultural destinations, entertainment and shopping. The property is located directly adjacent to ItWorks! corporate headquarters with over 200 employees and across the street from Regatta Pointe Marina, restaurants and shops.
This 3.4+/- acre development site is prime for development that could include a boutique hotel, multifamily, office space or residential condominiums with ground floor or adjacent retail and restaurants, all with water views.
Due to the site's proximity to the public boat ramp, the CRA is requiring that a developer design and construct boat trailer parking on a portion of the site to accommodate approximately 20-30 boat trailer spaces.The net developable area will end up being approximately 2.5 - 3 acres.
Due to the current split zoning on the property, the Expectation is that a rezone to Planned Development Multi-Use (PD-MU) will be required. Residential density on the site has been increased to 153 units through a recently completed City- initiated Comprehensive Plan Amendment that changed the Future Land Use (FLU) to Planned Community (PC).
The City of Palmetto and the Palmetto Community Redevelopment Agency are encouraging development in the Downtown Core by incentivizing projects that bring more activity to the area and accentuate this tremendous waterfront location. Development Incentives may amount to 8-12% of the total development cost paid back to the Developer (City Commission has ultimate discretion on Incentives).
**PURCHASE REQUIREMENTS - PLEASE NOTE THAT THE PURCHASE OF THIS PROPERTY IS SUBJECT TO THE FOLLOWING REQUIREMENTS AND STIPULATIONS:
* Developer must submit proposal that includes Letter of Intent, Conceptual Plan, and Development Proforma in order to be considered.
* Approval of the Development Concept by the Palmetto Redevelopment Agency and City Council prior to contract execution, with requirements of Buyer to fulfill development obligations.
* Developer is responsible for constructing boat trailer parking on a portion of the site to accommodate approximately 20-30 boat trailer spaces for future public use.
*If a residential project is proposed, a mixed use component of retail, restaurant, and/or office space is required. The southeast corner of the side is limited to non-residential uses.
Presented By: SVN COMMERCIAL ADVISORY GROUP with 941-387-1200. - 941-387-1200
Interior Features for 834 RIVERSIDE DRIVE
Bathrooms
Total Baths
General for 834 RIVERSIDE DRIVE
Additional Parcels Description3115600003, 3113800059, 31115700009, 3115000006
Additional Parcels Y/NYes
Building Area Unitssquare feet
Citypalmetto
Countymanatee
Current Usecommercial
Directionsfrom the corner of us 301 and us 41, head west on 10th street west. turn left on business 41. turn right on riverside drive. the property will be on the right.
Flood Zone Codeae
HOANo
Legal Descriptionlots 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 blk h lamb plat pi#31173.0000/8
Living Area Unitssquare feet
Lot Size Square Feet148104
Lot Size Unitsacres
MLS Area34221 - palmetto/rubonia
ModificationTimestamp2025-04-16t18:05:58.350z
Ownershipother
Property Typeland
Sewernone
Standard Statusactive
Statusactive
Subdivision Namelambs fractional sub
Tax Annual Amount0
Tax Lot1
Tax Year2024
Utilitieselectrical nearby, water nearby
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Waterfront Y/NNo
Zoningcc & rm-6
Exterior for 834 RIVERSIDE DRIVE
Lot Dimensions367 x 444
Lot Size Acres3.4
Lot Size Area3.4
Number of Lots5
Road Surface Typeasphalt
Water Sourcenone
Additional Details
Price History
Andre LaFountain
Realtor / Coach
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