$2,579,000 ($814.08 per sqft)

Est. Mortgage $14,426/mo *

Quick Pre-Approval

133 W BAY STREET, Osprey, FL, 34229

133 W BAY STREET, Osprey, FL, 34229

1 beds


3,168 sqft

This property offers immediate income generation through a well-maintained 4-Plex. Situated on half an acre with 100 feet of direct bayfront access, it is currently zoned RMF1 with the potential for up-zoning to RMF2 or RMF3. Located within a Special High-Density Overlay District, it allows for significant development opportunities. The existing model, designed for RMF1 zoning, can accommodate a 15,840-square-foot living space over parking on a 7,920-square-foot buildable area, adhering to County setbacks. Upzoning to RMF2 or RMF3 would enable even more living space, making it the optimal use for this land. This property is perfectly positioned for luxury condominium development, the creation of a luxury compound, or the construction of a high-end single-family residence while retaining the existing duplexes. It features a newly constructed 150-foot dock with mooring for multiple boats and the potential for expansion. Situated in the affluent Osprey Village-Spanish Point, one of the most rapidly developing areas in the region and the fastest-growing bayfront walking community in Sarasota County. The property currently includes a unique 4-Plex consisting of two duplexes with two addresses on a single parcel. An additional advantage is that the 4-Plex is already connected to County water, with County sewer and a central gas line available within 150 feet. Adjacent to this property, Parrot Cove is constructing nine multi-million-dollar homes, while 49 luxury townhouses have been approved to the southeast at the corner of Tamiami Trail, and 22 luxury condos are proposed a block south. This property offers a unique opportunity as the existing duplexes provide immediate income generation, allowing time for planning and permitting, and potentially serving as a construction office. Enjoy picturesque bay views across to North Casey Key, stunning sunsets, and an unobstructed view reminiscent of a century ago. The lush grounds include a 150-year-old Grand Oak Tree by the bay, a private beach area with a firepit, pathways, and mature natural Florida landscaping. The four existing residences are classic open loft bungalows from the 1950s, updated with modern amenities while preserving their historic charm. All four units are fully furnished, equipped with kitchens and wares, new beds, linens, window coverings, and have been meticulously maintained. On-site laundry facilities are available. The property's fantastic West of The Trail location is one block distance of Historic Spanish Point, numerous restaurants, and shopping. It offers easy access to Nokomis Beach, Legacy Trail, Siesta Key, shopping centers, medical facilities, UTC Mall, downtown Sarasota, St. Armand's Circle, The Island of Venice, and all area airports. Private air travel options are also accessible on The Island of Venice. The seller has been renovating the property since acquiring it and has recently secured lucrative rentals for both units in the East Duplex for February and March, generating substantial monthly income. Developers recognize this as a once-in-a-lifetime opportunity to develop bayfront property in this special part of Little Sarasota Bay. Viewings are by appointment only, and unauthorized entry onto the property is prohibited.





Furnished Remarks:


Laundry Remarks:

Laundry Room






Common, Driveway


Central, Electric


Central Air

Lot Size:




Est. Taxes:



Block, Stucco


BB/HS Internet Available, Cable Connected, Public, Water Connected

Lot Description:

In County, Level, Near Marina, Oversized Lot

View Description:


Elementary School:

Laurel Nokomis Elementary

Middle School:

Sarasota Middle

High School:

Venice Senior High

Days on Market:


Pet Policy:



Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer

Min Lease Term:

1 Month

MLS #:


Community Info

School Info

Victory Baptist Academy

Enrollment: 56

Distance: 0.76 Miles

The Study Center

Enrollment: 4

Distance: 4.56 Miles

Community Rating:

Gulf Gate Elementary School

Rating: 8/10

Enrollment: 711

Distance: 4.58 Miles

Community Rating:

Imagine School At Palmer Ranch

Rating: 6/10

Enrollment: 502

Distance: 4.69 Miles

Community Rating:

Saltmeadow School

Enrollment: 17

Distance: 5.05 Miles

Mangrove School of Sarasota

Enrollment: 71

Distance: 5.05 Miles

European Academy Of Early Education

Enrollment: 53

Distance: 5.43 Miles

Community Rating:

Sarasota Middle School

Rating: 9/10

Enrollment: 1,244

Distance: 5.66 Miles

Community Rating:

Laurel Nokomis School

Rating: 8/10

Enrollment: 1,181

Distance: 5.77 Miles

Community Rating:

NewGate School

Enrollment: 155

Distance: 5.87 Miles

Community Rating:

Ashton Elementary School

Rating: 10/10

Enrollment: 1,060

Distance: 5.88 Miles

Community Rating:

Prew Academy

Enrollment: 43

Distance: 6.1 Miles

Community Rating:

Riverview High School

Rating: 6/10

Enrollment: 2,606

Distance: 6.15 Miles

Community Rating:

Sarasota Virtual Academy (Virtual Franchise)

Enrollment: 0

Distance: 6.16 Miles

Sarasota County Technical Institute

Enrollment: 4

Distance: 6.16 Miles

Sarasota Virtual School

Enrollment: 45

Distance: 6.23 Miles

Sarasota Virtual Instruction (Course Offerings)

Enrollment: 0

Distance: 6.23 Miles

Suncoast Polytechnical High School

Rating: 8/10

Enrollment: 565

Distance: 6.24 Miles

Community Rating:

Wilkinson Elementary School

Rating: 3/10

Enrollment: 511

Distance: 6.5 Miles

Community Rating:


Enrollment: 57

Distance: 6.51 Miles

Phillippi Shores Elementary School

Rating: 9/10

Enrollment: 789

Distance: 6.52 Miles

Community Rating:

Hershorin Schiff Community Day School

Enrollment: 252

Distance: 6.64 Miles

Community Rating:

Island Village Montessori School

Rating: 7/10

Enrollment: 662

Distance: 6.69 Miles

Community Rating:

Sarasota Suncoast Academy

Rating: 7/10

Enrollment: 670

Distance: 6.72 Miles

Community Rating:

Out-Of-Door Academy

Enrollment: 742

Distance: 6.72 Miles

Community Rating:

Epiphany Cathedral School

Enrollment: 183

Distance: 7.02 Miles

Community Rating:

Incarnation Catholic School

Enrollment: 165

Distance: 7.28 Miles

Community Rating:

Lakeview Elementary School

Rating: 9/10

Enrollment: 599

Distance: 7.41 Miles

Community Rating:

Venice Elementary School

Rating: 9/10

Enrollment: 570

Distance: 7.46 Miles

Community Rating:

Brookside Middle School

Rating: 7/10

Enrollment: 754

Distance: 7.47 Miles

Community Rating:

Venice Senior High School

Rating: 6/10

Enrollment: 2,236

Distance: 7.69 Miles

Community Rating:

Brickhouse Academy

Enrollment: 31

Distance: 7.7 Miles

Community Rating:

Brentwood Elementary School

Rating: 6/10

Enrollment: 655

Distance: 7.99 Miles

Community Rating:

School Information courtesy of GreatSchools

Walk Score


Listing courtesy of AYERS AND ASSOCIATES REAL ESTATE Phone: 941-266-3193