Land Investing-Area Facts  ​

1. Location, Location, Location

       In the Sarasota and Charlotte County area the best and most expensive locations are directly on the beautiful Gulf of America. This land has a world-wide market and lots are very valuable, usually priced well over $3,000,000 (  $60,000+ per foot of frontage). However there will be no more production of these land parcels while demand continues to increase. Appreciation potential is very high. These lots are located in Boca Grande or Gasparilla Island , Manasota Key, Palm Island, Venice Island , Casey Key , Siesta Key, and Longboat Key. Only few of these lots are ever on the market at any given time. Often the best way to buy these lots is by buying an older house on an attractive lot (teardowns).  

      The next level of pricing is for building lots with boat access to the Gulf of America. The value of these lots vary with how direct and unimpeded the access is to the Gulf. Prices start at around $60,000 for a powerboat canal lot and range up to over  $1,000,000 for a bay or harbor lot. A good supply of these lots exist in Punta Gorda Isles ( zip 33950) , Burnt Store Isles,  off of  Harbor Blvd, Collingswood Blvd, and Midway Blvds  in Port Charlotte (zips 33952 and 33948 ), in Northwest Port Charlotte (zip 33953), Gulf Cove  and in South Gulf Cove (33981 ) . These lots have very high appreciation potential because it will be almost impossible to get government permits to build new similar lots. Within South Gulf Cove  there are large variations in value depending on whether the lot has sailboat access to the Gulf of America, if it has a seawall, and whether it is located close to the canal that gives access to the Gulf. These variations can be over $150,000. In Northwest (33953 ) Port Charlotte  there are Gulf of Mexico access lots that are a relative bargain given their closeness to US 41 and I-75 and their much lower prices compared to other Gulf access zones.  

     The third level of pricing is for lots on golf course or with golf course views. These lots start at $50,000 and go up to well over $200,000. There are many such lots available in Rotonda West on the Cape Haze Peninsula . For those that want to live close to golf courses and the Gulf of America, Rotonda Sands, Rotonda Lakes, and Rotonda Heights are  economical options with lots starting at less than $25,000 with central water + sewer and Deed Restrictions.  Deep Creek  in Port Charlotte also has golf course lots and is very close to I-75 and Punta Gorda. In Sarasota County, there are occasionally single lots available in other golf course communities,  they are rare and usually priced well over $100,000.

     The fourth level of pricing is for freshwater canal or lake front lots with no access to the Gulf of America. Depending on the width of the canal or the size of the lake, these freshwater  lots have  lot premiums of $2,000 to $5,000 over the price of similar lots without waterfront. Good freshwater canal lots can be acquired for $20,000+. These lots are spread out all over the zone and the lot value is substantially affected by the lot's location. The best of these lots are in North Port  between Sumter and Atwater Boulevards. These lots are usually much easier to sell than standard building lots. Buyers of these lots like the extra privacy and the views that come with a canal lot. The Cocoplum Canal and the Snover Canal are a couple of the best North Port canals. Rotonda Meadows, Rotonda Sands and Rotonda Lakes have a nice selection of reasonably priced lakefront lots, starting at $20,000.

     The next level of pricing is for standard building lots with no waterfront, no golf course,  and no serious location or scrub jay problems(see below).  An investor that buys a package of these lots has an excellent chance of achieving a high rate of return with little downside risk. These lots vary in asking price from $20,000 to $30,000 with most lots in the $20,000-$25,000 range.   Many investors prefer lots in North Port  because of the perceived quality of Sarasota County Schools and the proximity to I-75. Others prefer Englewood, Rotonda or South Gulf Cove for the proximity to the Gulf of Mexico beaches.  Standard building lots are more valuable when:

            -They are close to the Gulf of Mexico

            -They are west or south of  I-75 and away from highway noise

            -They are less than 7 minutes to schools and commercial centers

            -They have quick access to I-75 and Route 41

            -They are located in zones that have mostly new construction

           -They have no scrub jay problems( see below ) or Gopher Turtle problems ( Do Not Buy)

           -They have central water and/or sewer

           -They have access to electricity

           -They are in deed restricted communities

           -They are cleared and ready for construction

           NOTE: There are plenty of badly located lots that are cash drains due to taxes. I can help you identify them. These should be liquidated ASAP.

2. Scrub Jays, An Endangered Species That Endangers Lot Values

      Scrub jays are small birds that have been declared an endangered species. There are large zones of both Sarasota and Charlotte Counties that have been declared scrub jay habitat zones. It is currently  expensive ( and time consuming ) to get building permits in scrub jay zones and as a result the prices of lots in scrub jay zones are  depressed. There are only a limited number of buyers for these lots. 

     If a lot is in a scrub jay zone in Charlotte County, you can get a building permit for a 10,000 sq ft lot by paying a fee of $2,200. The fee goes up for larger lots.

     For more information on scrub jays go to the "Local Resources" section of this website and look for the "scrub jay" section. If you are a buyer, I will help you check on the scrub jay status of any lot you are considering.

 2a.  Gopher Tortoises Have become a big problem. Turtles can cost $6,000 to $10,000 per turtle to remove. Please see my separate section on Gopher Tortoises.

3. Rapidly Changing Demographics  

      North Port and Port Charlotte are converting from being mostly retirement towns to being the bedroom communities for the Florida West Coast.  Naples, Ft Myers, and Sarasota are too expensive for most working people (teachers, nurses, managers, policemen, construction workers, etc) and they are flocking to the more reasonably priced housing available in this zone.  

     Charlotte Harbor and the Gulf of America beaches combined with excellent weather and many golf courses are very attractive to retirees and they continue to come to this area, especially the zones around the Cape Haze Peninsula, Punta Gorda, Venice and Sarasota.

4. Commercial Centers

     The main commercial artery of Sarasota and Charlotte County is US  41, also known as Tamiami Trail. South of the City of Sarasota there are major commercial centers on US 41 at the intersections of Jacaranda ( Venice), Wellen Park ( North Port ), Sumter (North Port), and Rt 776 (Port Charlotte). The distance a land parcel is from these centers has an important effect on the lot's price. Almost all home buyers state a preference for being close to US 41 and these commercial centers. For investors interested in commercial land, there are many interesting opportunities in this zone with high appreciation potential.

5.Water/Sewer

     Many lots in this zone don't have central water or sewer access. The home builders normally put in wells, water treatment systems and septic systems as part of their building process. Major exceptions to this rule are South Gulf Cove, Rotonda, and Deep Creek.  They all have central water systems and either have or will have central sewer systems. Having central water and sewer adds at least  $2,000+ on to the value of a lot. As more houses get built in a zone, the quality of well water degrades so don't underestimate the value of central water. If you check out the cost of water treatment systems ( often $5,000+ ), you can see why. As a result, many buyers won't buy lots that don't have central water.

    Charlotte County has a major program of water and sewer projects in the more populated zones. If you have a lot in one of these zones, you may be subject to substantial fees when the water/sewers are installed. To check on these projects go to https://www.charlottecountyfl.gov/dept/utilities/Pages/Utilities-Projects.aspx .

7. Land Reserves and Their Effect on Land Values

     Both Sarasota and Charlotte Counties have major programs to set up nature preserves and to severely limit development in the zones east of I-75. Over time these programs will push up the values of the remaining land, especially in light of the rapidly increasing population. Sarasota County and the State of Florida control huge parcels of land around the Myakka River which effectively cut off much development in the zone. The   $350 million  Babcock Ranch project in Charlotte County will tie up 74,000 acres, over 15 percent of the county's land area.

     Florida's budget usually has $millions for land acquisition to buy park and nature preserve lands in addition to the Babcock Ranch project.. Sarasota County has an ongoing $250,000,000 land acquisition plan to buy land and preserve it. 

8. Getting to Know the Area

    I will be glad to show you this area and help you find the best investment opportunities. Just call me at 941-661-2577 or email me at abroslat@gmail.com  and we'll set a time.

  If you subscribe to my "Top Ten" e-mails you will also get regular  market updates on how the building lot market is evolving. You can click on the link to do this or e-mail me at abroslat@gmail.com . You can call me at 941-661-2577 at any time if have more questions.