The land is expected to be developed into single family residential lots.
SARASOTA — An investment entity, KF Capital, plans to develop 32 single-family lots in Palmer Ranch, a master-planned community in south Sarasota County.
KF Capital acquired the land recently for $1.33 million, according to a statement. KF Capital bought the 8.7 acre site, over three parcels, from KFS Holdings, the statement adds.
Loyd Robbins and Kevin Robbins with Sarasota-based Harry E. Robbins Associates represented KFS Holdings.
“This transaction is a perfect example of the growing market incentive for owners to sell as new communities spring up around their property,” says Loyd Robbins, primary broker at Harry E. Robbins Associates Inc., in the release. “Family members of KSF Holdings originally purchased the property in the early 1960’s. Over the years, the Palmer Ranch Master Planned Community has developed around their property.”
Palmer Ranch is located south of Clark Road and covers approximately 60 square miles between Interstate 75 and Tamiami Trail. The community features over 90 subdivisions, apartment communities and assisted living facilities with more than 20,000 residents. It’s also the home of numerous commercial, recreational and religious organizations.