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Development opportunity in Treasure Island

Townhome development opportunity

Lot Size
11,920 SF +/-

Offered at
$1,459,000

About
The Property

Get in Touch with Rachel

Location and Opportunity! Everyone dreams of a beach home and now you can make their dreams come true!

This outstanding development opportunity is located in the Coney Island neighborhood of Treasure Island. The property is waterfront, 3 blocks away from the beach, and a very short bike ride to John’s Pass Village and Boardwalk. With 11,920+/- SF you can easily build 4 townhomes with over 2200 HSF.

Comparable townhomes in the area are selling for $1,550,000 – $1,675,000 (Comps on page 8-9)

The waterfront lot provides dock access with the potential for 3-4 boat slips. Water, sewer, and reclaimed water are already on site, priming the parcel for construction permits. With its residential zoning designation, this property presents a unique chance for a lucrative beach townhome project. Maximize your returns by capitalizing on the area’s limited land availability in a highly-desired beach area.

Interesting Area Information:

HGTV: Treasure Island to be featured in Episode 5 of HGTV’s hit show, “Rock the Block”. The luxury homes, constructed by Tampa-based Blake Building, feature pools, boat docks, and stunning bayside views. Hosted by Ty Pennington, 4 teams will compete to renovate townhomes only a few blocks from the subject property. This press coverage and increased popularity for the area will create a superb pre-sale opportunity for the new construction project.

 

JOHNS PASS: Pinellas County commissioners have recently approved a designation that will allow higher-density development in John’s Pass Village.

The vote is still contingent upon Madeira Beach giving its final approval for the village to become a “neighborhood” center. City officials and Forward Pinellas, the county’s land-use and transportation planning agency, believe an activity center designation would allow the city to come in line with county standards while maintaining the village’s character.

This designation will increase the popularity of the area and make a positive impact on surrounding developments.

Features &
Amenities

  • Site ready to permit for development townhomes 
  • Existing dock
  • Approxiamately 86 linear feet of water frontage
  • Site ready with sewer, electric, and reclaimed water
  • 299SF of ground floor flex/living space approved by the city for each unit.
  • Tandem 2-car garages with front and rear rolling doors
  • Private covered lanai
  • East and West facing balconies
  • Staggered water views
  • Survey available
  • Soil report available

Photo
Gallery

Location

12304 Lagoon Lane

Treasure Island, FL 33706

Rachel-Sartain-Tenpenny-Home
Rachel Sartain Tenpenny

Get in Touch with Rachel

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Read What My Customers Say. . .

Rachel helped us sell our home and purchase a new townhome. She knew the market, listened to our needs and concerns, and developed and executed a marketing plan that allowed for a successful sale at a good price and timeframe. When we purchased our new townhome, Rachel quickly negotiated the contract and arranged for a simultaneous closing for both properties. Rachel went the extra mile to make a potentially stressful situation as smooth as possible.
Jim & Kim D
This was a very difficult time for me and my wife. Everything that could have gone wrong during the process did go wrong. However, Rachel managed the issues with a steady hand, competently, poised, and with a smile on her face. Without Rachel, we would not have been able to purchase our new home. We could not be more pleased with her work, and we would highly recommend her to anyone who seeks a highly qualified real estate agent.
Dr. Ralph G. Perrino
I have utilized Rachel's services multiple times with exceptional results in every instance. In addition to traditional buyer and seller representative engagements, I also utilize Rachel on an on-going basis for real estate market knowledge and due diligence. She has established herself as an expert in real estate matters.
Patrick M
Rachel knows what it takes to sell property and understands her clients so well she can quickly find them just what they are looking for. Rachel also is very tech savvy and studies current trends in real estate and marketing and can then provide a higher level of service to both buyers and sellers. I would recommend Rachel for any of your real estate needs. You won't be disappointed.
Becky S
Rachel represents herself and her clients with a high level of professionalism. I found her to be detail-oriented always keeping the customers needs at the forefront.
Larry W
Rachel sets herself apart from other Real Estate Agents by being exceptionally responsive to the needs of her clients. She always makes herself available to us and has become far more than just our realtor...she is a friend.
Rob K
I am always amazed with her capacity to service and her incredible knowledge of the real estate business.
John B

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