9022 MIDNIGHT PASS ROAD

Property Details

Description

An exceptionally rare opportunity to acquire an assemblage of fully renovated, income-producing, nine-unit, waterfront condominiums as an entire complex located adjacent to Turtle Beach on world-renowned Siesta Key. Coral Shores offers immediate short-term rental income opportunity, paired with long-term redevelopment and appreciation potential, in one of Florida’s most desirable and supply-constrained coastal markets. Property Highlights: • Nine (9) condominium unit assemblage, sold as a package • Just under 0.50-acre waterfront site • Direct Sarasota Bay to Gulf of Mexico access – no bridges • Four private docks with eight slips (up to ~40’+ vessels) • Heated in-ground swimming pool • Large central parking lot for tenants and guests • New shared coin laundry, ice machine and owner storage facilities • Predominantly 2BR units with select 1BR and studio layouts Renovations & Interior Upgrades: Units have recently completed renovations featuring modern coastal interiors, updated kitchens with new appliances, stone countertops and new cabinetry, glass-enclosed contemporary bathrooms, new flooring, trim, windows, and select in-unit laundry, new common coin laundry appliances with ice machine and unit storage closets, new raised HVAC units, new pool pump equipment, and more. The property is fully turnkey for continued short-term rental use. Income & Zoning Upside: Currently operating as weekly short-term rentals with strong seasonal occupancy. Zoned for low-rise condominiums (2–3 stories), with surrounding properties zoned mid-rise (4–6 stories), providing future redevelopment or density expansion potential subject to approvals. More detail is available with executed NDA.

Facts & Costs

Property type

Multi-Family 5+

Building size

7,494 sq ft

Zoning

RMF3/SKOD

Road frontage

County Road

Year built

1981

Lot size

0.44 acres

Price per sq ft

$981

Days on market

190

Waterfront

Yes

Subdivision

CORAL SHORES

County

Sarasota

Flood zone

AE

Monthly & yearly costs

Property taxes

$35,201 / year (2025)

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

Construction & systems

Utilities

BB/HS Internet Capable, Electricity Available, Natural Gas Available, Phone Available, Public, Water Connected

Sewer

Public Sewer

Water

Public

Lot features

FloodZone, Near Public Transit, Sidewalk, Street Lights, Paved, Waterfront

Heating

Central, Electric

Cooling

Central Air

Flooring

Ceramic Tile, Luxury Vinyl

Roof

Shingle

Construction

Vinyl Siding, Frame, Wood Siding

Parking

Common, Deeded, Ground Level, Lighted, Shared Parking

View

Gulf/Ocean to Bay

Payment Estimate

$33,247 / month

Principal & interest

$30,314

Property taxes

$2,933

HOA

$0

Home insurance

enter below

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

Features & Amenities

• Dishwasher
• Dryer
• Microwave
• Refrigerator
• Washer
• Bay/Harbor
• Bayou
• Gulf/Ocean to Bay
• Lagoon