$965,000
1923 5th Street
Sarasota, FL 34236
Listing updated: June 2, 2026 at 4:48 PM ET
Property type
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
About this home
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.
Local Insight
At $965K for a quarter-acre lot in Sarasota's Inwood Park area, you're paying for location in an established neighborhood near downtown, but this is raw land with no structures—so factor in significant construction costs before comparing to finished homes. The lack of flood zone designation is a genuine plus for this price point, though you'll want to verify utilities access and any local development restrictions since the lot is relatively small and already surrounded by existing homes. The real question is whether you're buying this to build your own home or as a speculative play, because the per-square-foot metric is almost meaningless on vacant land—what matters is what you can actually build here and what it'll cost.
AI-generated insight based on listing data and neighborhood context. Verify independently.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history105 days on market
- Status: ActiveFeb 17, 2026
- Listed$1,250,000Feb 17, 2026
- Price reduced$965,000
Facts & features
- Property type
- Land
- Status
- Active
- Days on market
- 105
- Subdivision
- Inwood Park First Add
- County
- Sarasota
- Price/sq ft
- $92
- Lot size
- 10,500 sq ft
- Lot category
- 0 to less than 1/4
- Flood zone
- X (12115C0133G)
- Annual taxes
- $7,207 (2024)
- Parcel #
- 2026090007
- Zoning
- DTE
- MLS #
- A4682868
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HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- Listing terms
- Cash, Conventional, FHA, VA Loan
- Ownership
- Fee Simple
Exterior & Construction
- Road surface
- Paved
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Other
Listing Details
- Listing date
- 2026-02-17
- On market date
- 2026-02-17
- Original list price
- $1,250,000
- MLS area
- 34236 - Sarasota
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-02-17
- Tax legal description
- LOTS 16 18 20 & 22 BLK 3 INWOOD PARK 1ST ADD
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
South on 301 to 5th street, turn right on 5th and property is the second from the corner.
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of June 2, 2026 at 4:48 PM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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