Buy&Build (Land): (9.58 Acres) 7215 12th St Ct East, Sarasota, FL + $7,500,000
- Promise Land Realty
- Jul 31, 2025
- 4 min read
Land Investment Opportunity
Price
$7,500,000
OFF-MARKET DEVELOPMENT OPPORTUNITY
7207 12th Street East, Sarasota, FL 34243
9.58 Acres | 192 Approved Residential Units | Asking Price: $7,500,000
Promiseland Realty proudly presents Whitfield Estates — a shovel-ready, fully entitled 9.58-acre multifamily development site in Sarasota, FL, approved for 192 residential units. The property benefits from a completed Land Use Agreement and final zoning approval, with site work already commenced. The project qualifies for an up to 90% ad valorem tax abatement under Manatee County's “Live Local” legislation, providing an exceptional opportunity for long-term NOI optimization.
Highlights:
Entitled for 192 Units | 3-story buildings across 6 structures
Lot Size: 9.58 acres | Zoned PDR (Planned Development Residential)
Unit Mix: All 2 bed / 2 bath units (~750 SF)
Rental Income Cap: Set at $2,595/month under HUD 120% AMI guidelines
Estimated Potential Gross Revenue: $5,978,880/year
Appraised “As-Is” Value (2024): $10,000,000
Appraised “As-Completed” Value (2026): $70,000,000
Infrastructure & Site Work: Already underway; vertical construction ready to commence
20-Year Tax Abatement: Estimated 70-90% property tax reduction upon completion
Additional Income: ~$72,000/year from onsite laundry + $15,000/month from proposed solar panel grid sale
Vacancy Estimate: 5% | Area vacancy rates average ~2%
Located in southern Manatee County just minutes from Sarasota’s world-renowned beaches, cultural institutions, and robust employment centers, Whitfield Estates offers a rare blend of entitlement security, affordability compliance, and development readiness in a high-demand rental market.
Aerial View:
Property Map:
All Offers & Inquiries:
Please submit directly to: investments@promiselandrealtyllc.com
TEAM PROMISELAND DISCLAIMER:
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
A $1,000 non-refundable Commitment Fee is required from all interested parties prior to contract execution. This fee secures priority positioning, covers consulting and processing costs, and confirms buyer intent. Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors and Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
OFFICIAL PROMISELAND LENDING PARTNER
100% Financing for Rehab Projects
Powered by Residential Capital Partners
ResCap is a direct private lender offering zero-money-down loan options for 1-4 unit residential investment flips & rentals across the U.S.
🔹 100% Financing – Covers purchase + rehab
🔹 Fast Closings – ~10 days
🔹 Credit Requirements – 620+ FICO (Rehab), 660+ FICO (DSCR)
🔹 Loan Size – $75K–$1.25M
🔹 Rates – 10.9%–11.9% | 2–3% origination | 1st lien
🔹 Serviced In-House | Virtual Inspections | No Owner-Occ or Rural Props
Nationwide Coverage (Excludes: AK, AZ, NV, PA)
Proof of Funds Available
This listing is proudly sponsored by Residential Capital Partners – trusted lending for the nation’s best flippers.
For more info email sarter@promiselandrealtyllc.com or text (864) 762-2509
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PROMISE LAND REALTY LLC
Work: 864-762-2509
Trusted by 50,000+ Investors. Featured on BiggerPockets:
PROMISELAND DISCLAIMER:
Promiseland Realty LLC is a nationwide real estate consulting firm specializing in off-market investment opportunities, strategic acquisitions, and real estate advisory services.
No one is permitted to market, advertise, or distribute this listing without express written permission or verified membership within the TEAM PROMISELAND network. Unauthorized use or sharing of this opportunity, photos, or property information will result in a $500 fine per incident, enforceable by law.
All off-market properties are sold As-Is, Where-Is. Buyer is responsible for conducting their own due diligence. Properties are conveyed via warranty deed, and Promiseland Realty LLC is selling its assignable contractual interest.
A $1,000 non-refundable Commitment Fee is required from all interested parties prior to contract execution. This fee secures priority positioning, covers consulting and processing costs, and confirms buyer intent. Proof of Funds is required with all offers. Earnest Money Deposit (EMD) is due within 48 hours of an accepted offer. All closings are facilitated through a licensed title company or closing attorney.
Realtors and Brokers: You are welcome to bring a buyer — please add your fee on top of our asking price.
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