$2,950,000
834 Riverside Drive Palmetto, FL 34221
For Sale MLS# A4631734
Commercial
Details for 834 Riverside Drive
MLS# A4631734
Description for 834 Riverside Drive, Palmetto, FL, 34221
This gorgeous mixed-use development site is situated in the heart of Palmetto, Florida, just steps from the Manatee River. It is minutes from pristine white-sand beaches, cultural destinations, entertainment and shopping. The property is located directly adjacent to ItWorks! corporate headquarters with over 200 employees and across the street from Regatta Pointe Marina, restaurants and shops. This 3.4+/- acre development site is prime for development that could include a boutique hotel, multifamily, office space or residential condominiums with ground floor or adjacent retail and restaurants, all with water views. Due to the site's proximity to the public boat ramp, the CRA is requiring that a developer design and construct boat trailer parking on a portion of the site to accommodate approximately 20-30 boat trailer spaces.The net developable area will end up being approximately 2.5 - 3 acres. Due to the current split zoning on the property, the Expectation is that a rezone to Planned Development Multi-Use (PD-MU) will be required. Residential density on the site has been increased to 153 units through a recently completed City- initiated Comprehensive Plan Amendment that changed the Future Land Use (FLU) to Planned Community (PC). The City of Palmetto and the Palmetto Community Redevelopment Agency are encouraging development in the Downtown Core by incentivizing projects that bring more activity to the area and accentuate this tremendous waterfront location. Development Incentives may amount to 8-12% of the total development cost paid back to the Developer (City Commission has ultimate discretion on Incentives). **PURCHASE REQUIREMENTS - PLEASE NOTE THAT THE PURCHASE OF THIS PROPERTY IS SUBJECT TO THE FOLLOWING REQUIREMENTS AND STIPULATIONS: * Developer must submit proposal that includes Letter of Intent, Conceptual Plan, and Development Proforma in order to be considered. * Approval of the Development Concept by the Palmetto Redevelopment Agency and City Council prior to contract execution, with requirements of Buyer to fulfill development obligations. * Developer is responsible for constructing boat trailer parking on a portion of the site to accommodate approximately 20-30 boat trailer spaces for future public use. *If a residential project is proposed, a mixed use component of retail, restaurant, and/or office space is required. The southeast corner of the side is limited to non-residential uses.
Listing Information
Property Type: Commercial
Status: Active
Lot Size: 3.40 Acres
Subdivision: Lambs Fractional Sub
Current Use: Commercial
County: Manatee
Utilities
Other Utilities: Electricity Available,Water Available,Sewer Not Available,Water Not Available
Exterior / Lot Features
Lot Dimensions: 367 x 444
Driving Directions
From the corner of US 301 and US 41, head west on 10th street west. Turn left on Business 41. Turn right on Riverside Drive. The property will be on the right.
Financial Considerations
Tax/Property ID: 3117300008
Tax Year: 2024
Price Changes
| Date | Price | Change |
|---|---|---|
| 12/08/2024 04.52 AM | $2,950,000 | |
| 12/08/2024 04.52 AM | $2,950,000 |
A broker reciprocity listing courtesy: SVN COMMERCIAL ADVISORY GROUP
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Payment Calculator
The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.
Sales History & Tax Summary for 834 Riverside Drive
Sales History
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| Currently not available. | ||
Tax Summary
| Tax Year | Estimated Market Value | Total Tax |
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| Currently not available. | ||
Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 834 Riverside Drive
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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