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9022 Midnight Pass Rd 9 Unit Apartment Building $8,977,800 CAD ($997,533 CAD/Unit) Sarasota, FL 34242
Executive Summary
Exceptionally Rare 9-Unit Waterfront Condominium Complex - South Siesta Key Florida
An exceptionally rare opportunity to acquire a fully renovated, income-producing waterfront condominium 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 supply-constrained coastal markets.
Property Highlights:
• Nine (9) condominium units 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
• Shared laundry and owner storage facilities
• Predominantly 2BR units with select 1BR and studio layouts
Renovations & Interior Upgrades:
All units have recently completed extensive renovations featuring modern coastal interiors, updated kitchens with stone countertops and new cabinetry, glass-enclosed contemporary bathrooms, new flooring, trim, windows, and select in-unit laundry. 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.
An exceptionally rare opportunity to acquire a fully renovated, income-producing waterfront condominium 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 supply-constrained coastal markets.
Property Highlights:
• Nine (9) condominium units 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
• Shared laundry and owner storage facilities
• Predominantly 2BR units with select 1BR and studio layouts
Renovations & Interior Upgrades:
All units have recently completed extensive renovations featuring modern coastal interiors, updated kitchens with stone countertops and new cabinetry, glass-enclosed contemporary bathrooms, new flooring, trim, windows, and select in-unit laundry. 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.
Property Facts
| Price | $8,977,800 CAD | Building Class | B |
| Price Per Unit | $997,533 CAD | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 7,494 SF |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1981/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RMF3 - Residential Multi Family | ||
| Price | $8,977,800 CAD |
| Price Per Unit | $997,533 CAD |
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.45 AC |
| Building Size | 7,494 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1981/2025 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | RMF3 - Residential Multi Family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Bay Window
- Ceiling Fans
- Tile Floors
- Double Vanities
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Walk-In Closets
- Breakfast Nook
- Deck
- Dining Room
- Dock
- Double Pane Windows
- Linen Closet
- Pantry
- Patio
- Porch
- Window Coverings
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Pool
- Waterfront
- Furnished Units Available
- Gas Range
- Storage Space
- Dock
- Sundeck
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 7+5 | 4 | - | - |
| 4+3 | 2 | - | - |
| 4+2 | 2 | - | - |
| 1+1 | 1 | - | - |
1 1
Not walkable
10/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
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9022 Midnight Pass Rd
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