1923 5TH STREET

SARASOTA, FL 34236

Listing courtesy of KONA REALTY · MLS# A4682868

$899,000

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Property Details

Lot size

10,500 sq ft lot

Zoning

DTE

Price / acre

$3,745,833

MLS#

A4682868

Listed

February 17, 2026

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.

Facts & Costs

Property type: Land
Zoning: DTE
Current use: Residential
Lot dimensions: 20,629sq ft
Price per acre: $3,745,833
Road surface: Paved
Lot size: 10,500 sq ft
Days on market: 225
Waterfront: No
Subdivision: INWOOD PARK FIRST ADD
County: Sarasota
Flood zone: X

Monthly & yearly costs

Property taxes: $7,207 / year (2024)

As reported by the listing agent. Verify with the HOA and county.

Utilities & lot

Sewer: Public Sewer
Water: Public

Payment Estimate

$5,146 / month

Principal & interest: $4,546
Property taxes: $601
HOA: $0
Home insurance: enter below

Down payment (20%)$179,800Interest rate (%)Loan termHome insurance ($/year)

Estimate only, not a loan offer. Rate is a starting value; taxes and HOA are as reported by the listing agent. Florida insurance (including flood) varies widely. Ask George for a lender referral.

Location

Information deemed reliable but not guaranteed.

Listings courtesy of Stellar MLS as distributed by MLS GRID

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