Overview
Siesta Key, Florida | Adjacent to Turtle Beach
Offered at $6,500,000
An exceptionally rare opportunity to acquire a fully renovated, income-producing waterfront condominium complex in one of the most coveted beach destinations in the United States—Siesta Key, Florida. Offered off market, the Coral Shores Condominium Complex is a nine-unit package sale positioned directly on the water, just steps from Turtle Beach, currently with strong short-term rental performance at 100% seasonal occupancy.
Situated on just under half an acre, this low-density waterfront enclave evokes the charm and atmosphere of a luxurious Old Florida resort, while offering modern construction updates, flexible zoning, and compelling future upside.
About Property
Property Composition
- Three separate buildings arranged around a central parking area for tenants and guests .
- Building One: Closest to the water; two-story with two upper and two ground-floor units
Building Two: Near the pool; two-story with one upper and two ground-floor units - Building Three: Closest to the entrance; single-story with two side-by-side units
- Predominantly two-bedroom layouts with select one-bedroom and studio-style units
Income & Rental Profile
- Currently operated as short-term weekly rentals
- Fully occupied with strong seasonal Airbnb demand
- Located in a world-famous destination with year-round tourism and consistent cash flow potential
- Ideal for investors seeking immediate income with long-term appreciation
Waterfront Amenities
- Direct access to Sarasota Bay and the Gulf of Mexico
- No bridges or navigational impediments
- Four private docks with a total of eight slips
- Can accommodate motor boats up to approximately 38–40 feet
- In-ground heated swimming pool
- Centralized laundry and owner storage facility
Note: Additional detailed information about the off-market property is available upon request under our fully executed NDA.
Renovations & Interior Upgrades
All nine units have recently completed extensive renovations, delivering a modern, coastal-contemporary aesthetic throughout:
- New flooring, walls, trim, windows, and surfaces
- Fully updated bathrooms with glass-enclosed showers (select units include tubs)
- Designer kitchens featuring stone countertops, tile backsplashes, and brand-new cabinetry
- Several units include private in-unit laundry
- Turn-key condition ideal for continued short-term rental use
Zoning & Future Upside
- Currently zoned for low-rise condominiums (2–3 stories)
- Surrounded by mid-rise zoning (4–6 stories), presenting potential redevelopment or expansion upside subject to approvals
- Exceptional land value in a tightly held waterfront corridor .
Confidential Offering
This is an off-market commercial packaged offering.
No on-site visits without an approved appointment and listing agent present.
Location Highlights
- Adjacent to Turtle Beach in South Siesta Key
- Minutes from the main Siesta Key Beach—consistently ranked Top 3–4 beaches in the USA and globally
- Proximity to dining, boating, and Sarasota’s cultural amenities
- One of Florida’s most supply-constrained and high-demand coastal rental markets
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