Pending

834 Riverside Drive

PALMETTO, FL 34221
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SqFt148,104

Sqft(Lot)

Acres3.40

Acres(Lot)

Under contract-accepting backup offers. This gorgeous mixed-use development site is situated in the heart of Palmetto, Florida, just steps from the Manatee River. It is minutes from pristine white-sand beaches, cultural destinations, entertainment and shopping. The property is located directly adjacent to ItWorks! corporate headquarters with over 200 employees and across the street from Regatta Pointe Marina, restaurants and shops. This 3.4+/- acre development site is prime for development that could include a boutique hotel, multifamily, office space or residential condominiums with ground floor or adjacent retail and restaurants, all with water views. Due to the site's proximity to the public boat ramp, the CRA is requiring that a developer design and construct boat trailer parkin g on a portion of the site to accommodate approximately 20-30 boat trailer spaces.The net developable area will end up being approximately 2.5 - 3 acres. Due to the current split zoning on the property, the Expectation is that a rezone to Planned Development Multi-Use (PD-MU) will be required. Residential density on the site has been increased to 153 units through a recently completed City- initiated Comprehensive Plan Amendment that changed the Future Land Use (FLU) to Planned Community (PC). The City of Palmetto and the Palmetto Community Redevelopment Agency are encouraging development in the Downtown Core by incentivizing projects that bring more activity to the area and accentuate this tremendous waterfront location. Development Incentives may amount to 8-12% of the total development cost paid back to the Developer (City Commission has ultimate discretion on Incentives). **PURCHASE REQUIREMENTS - PLEASE NOTE THAT THE PURCHASE OF THIS PROPERTY IS SUBJECT TO THE FOLLOWING REQUIREMENTS AND STIPULATIONS: * Developer must submit proposal that includes Letter of Intent, Conceptual Plan, and Development Proforma in order to be considered. * Approval of the Development Concept by the Palmetto Redevelopment Agency and City Council prior to contract execution, with requirements of Buyer to fulfill development obligations. * Developer is responsible for constructing boat trailer parking on a portion of the site to accommodate approximately 20-30 boat trailer spaces for future public use. *If a residential project is proposed, a mixed use component of retail, restaurant, and/or office space is required. The southeast corner of the side is limited to non-residential uses.

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Detail Ic Property Details

Property Type : Land

Price : $3,500,000

AD Id : 61231526

MLS Id : MFRA4631734

Lot Size : 3.40 Acres(Lot)

Living Area Size : 148,104

County : Manatee

Subdivision: Country Club Estates

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Feature Features

  • Water Source

    WaterSource: None

  • Lot Information

    Lot Dimensions: 367 x 444 Lot Square Feet: 148104 Lot Acres: 3.4 Lot Size (SqMt): 13759

    Property Information

    Property Type: Land

  • Listing Price Information

    Original List Price:$2950000

  • Tax Information

    Tax Block: H Tax Book Number: 1-164 Tax Lot: 1 Tax Legal Description: LOTS 1,2,3,4,5,6,7,8,9,10 BLK H LAMB PLAT PI#31173.0000/8 Annual Tax: $0 Tax Year: 2024 Parcel Number: 3117300008

  • Utility Information

    Electrical Nearby, Water Nearby Sewer: None Water Source: None
  • Location Information

    Subdivision: LAMBS FRACTIONAL SUB City: PALMETTO Direction: From the corner of US 301 and US 41, head west on 10th street west. Turn left on Business 41. Turn right on Riverside Drive. The property will be on the right.
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Nearby Home Value

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37th Street, Palmetto, FL, 34221 $1,200,000 -- -- 668,733 15.35 Acres(Lot)
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3002 16th Avenue, Palmetto, FL, 34221 $650,000 -- -- 435,600 10 Acres(Lot)
4724 16th Avenue, Palmetto, FL, 34221 $89,500 -- -- 11,238 0.26 Acre(Lot)
6715 16th Avenue, Palmetto, FL, 34221 $649,000 -- -- 384,635 11 Acres(Lot)
3rd Street, Palmetto, FL, 34221 $157,075 -- -- -- Acres (Lot)--
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ByOwner last updated this listing 06/09/2026 @ 18:20

MLS: MFRMLS #A4631734 LISTED BY: Tony Veldkamp, CCIM, SVN COMMERCIAL ADVISORY GROUP 941-387-1200 SOURCE: MFRMLS (My Florida Regional MLS DBA Stellar MLS) (Listings courtesy of MFRMLS (My Florida Regional MLS DBA Stellar MLS) as distributed by MLS GRID)

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