1923 5th St Sarasota, FL 34236
Downtown Sarasota NeighborhoodEstimated payment $7,035/month
About This Lot
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.
Listing Agent
KONA REALTY Brokerage Phone: 941-718-8293 License #3371231 Listed on: 02/17/2026
Property Details
Property Type
- Land
Est. Annual Taxes
- $7,207
Lot Details
- 10,500 Sq Ft Lot
- Property is zoned DTE
Community Details
- No Home Owners Association
- Inwood Park First Add Subdivision
Listing and Financial Details
- Legal Lot and Block 16 / 3
- Assessor Parcel Number 2026090007
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,207 | $539,880 | -- | -- |
| 2024 | $6,873 | $490,800 | $490,800 | -- |
| 2023 | $6,873 | $464,900 | $464,900 | $0 |
| 2022 | $3,228 | $304,100 | $300,700 | $3,400 |
| 2021 | $2,756 | $225,400 | $221,500 | $3,900 |
| 2020 | $2,021 | $124,300 | $120,300 | $4,000 |
| 2019 | $2,100 | $129,600 | $125,700 | $3,900 |
| 2018 | $2,003 | $122,700 | $120,800 | $1,900 |
| 2017 | $2,024 | $122,800 | $120,800 | $2,000 |
| 2016 | $2,002 | $122,800 | $120,800 | $2,000 |
| 2015 | $1,953 | $122,900 | $120,800 | $2,100 |
| 2014 | $1,672 | $96,400 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/17/2026 02/17/26 | For Sale | $1,250,000 | +117.4% | -- | |
| 05/11/2022 05/11/22 | Sold | $575,000 | -8.7% | -- | View Prior Sale |
| 03/29/2022 03/29/22 | Pending | -- | -- | -- | |
| 03/25/2022 03/25/22 | For Sale | $629,900 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | $100 | None Listed On Document | |
| Warranty Deed | $629,000 | Gibson Kohl & Wolff Pl | |
| Warranty Deed | $160,000 | Attorney | |
| Warranty Deed | $100,000 | Attorney | |
| Warranty Deed | $50,000 | -- |
Source: Stellar MLS
MLS Number: A4682868
APN: 2026-09-0007
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Based on information submitted to the MLS GRID
Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393
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