Projects
Luxe Dream Garage Sarasota
Project facts
- Status
- Completed
- Address
- 5421 Communications Pkwy
- City
- Sarasota, Florida
- Region
- Southwest Florida
- Submarket
- Sarasota; Bradenton
- Units
- 65
- Amenity tier
- Premium
- Key amenities
- Concierge Services, Owners' Clubhouse/Lounge, Social Programming, Vehicle Lift Capability, Climate Control, Epoxy Flooring, 24/7 Owner Access
- Construction
- Tilt Wall
- Finish level
- Luxury
- Year built
- 2024
- Flood zone
- X
Market value summary
- # of Sales (T-36)
- 62
- Avg Sale Price (T-36)
- $314 / SF
- Avg Sale Price (T-36)
- $402,000
- Avg Market Value
- $450 / SF
- Avg Market Value
- $575,000
Location Summary
Sarasota / Sarasota; Bradenton Overview
Luxe Dream Garage Sarasota occupies 5421 Communications Parkway, a low density commerce pocket in northeast Sarasota County set immediately east of Interstate 75 and roughly one mile south of the University Parkway interchange at Exit 213. The address is deliberately quiet, yet it opens onto the busiest affluent gateway on Florida's central Gulf Coast: Nathan Benderson Park about 2 miles northwest, the University Town Center district about 2.5 miles northwest, and Sarasota Bradenton International Airport about 8 miles west, roughly a 15 minute drive on University Parkway. For an owner keeping and exercising a collection, that geometry matters more than address prestige, giving one turn to the interstate, minutes to the corridor's premier dining and retail cluster, and enough separation from the arterial to keep a 65 suite community free of retail traffic.
The immediate trade area is genuinely wealthy rather than merely comfortable. Median home value inside 3 miles is $556,645, and 2,268 households in that ring report income above $200,000, deepening to 6,816 within 5 miles. Nearly half the five mile population is 55 or older and 16.0 percent of households keep three or more vehicles, the signature of a seasonal, multiple vehicle ownership base. Platform data agrees: the Sarasota; Bradenton corridor carries the highest wealth percentile of any Southwest Florida submarket at 69.6 and posted the region's strongest one year gain in price per square foot at 20.5 percent against a $385 trailing twelve month median, while Lakewood Ranch, whose western approach begins just northeast of this site, held its eighth consecutive national ranking as the top selling multigenerational master planned community in 2025.
Macro context is inherited and brief: Florida again led all states in net inbound income migration, gaining roughly $20.6 billion in adjusted gross income in the latest IRS filing year, and its absence of any state individual income tax remains the structural reason high net worth Midwest and Northeast owners keep moving both households and assets to this coast.
Current Events & Infrastructure
- Premier Sports Campus North indoor ice and sports multiplex: Manatee County commissioners authorized negotiations on June 16, 2026 for an $80 million, 190,000 square foot indoor ice sports complex on 22 acres of county owned land at Premier Sports Campus North in Lakewood Ranch, about 5 miles northeast, with construction targeted for 2027 and opening projected for 2028. Tournament sport is the corridor's fastest growing visitor economy, and a facility at that scale pulls affluent, travel oriented households through this corridor year round.
- 1660 Ringling Boulevard Class A office redevelopment: Benderson Development, which acquired the former Sarasota County Administration Center for $25 million, won unanimous Planning Board endorsement on July 8, 2026 to reclad the building, add three stories and introduce ground floor retail, about 7 miles southwest in downtown Sarasota. It is the clearest signal yet that downtown Class A office demand is recovering, sustaining the professional ownership base that buys premium enclosed suites.
Key Demand Drivers
New luxury residential and resort product in this corridor is delivered with one or two parking spaces per residence, and neither the towers nor the villa communities can hold a climate controlled collection, a lift, an enclosed trailer or a coach. That shortage is exactly what a 65 unit premium tier suite community at this interchange answers, and each driver below adds qualified owners without adding competing product.
- Nathan Benderson Park: A 550 acre public park built around a 400 acre lake with a 3.5 mile paved exercise track at 5851 Nathan Benderson Circle, about 2 miles northwest, hosting world class rowing regattas plus signature events including Sarasota Oktoberfest and Fireworks on the Lake. It is the largest recreational draw within a five minute drive.
- Mote Science Education Aquarium: Mote Marine Laboratory opened Mote SEA at 225 University Town Center Drive in 2025, about 2.5 miles northwest; Mote reported reaching 43,792 people through education and outreach programs over the past year. A permanent attraction of that size stabilizes year round activity on the corridor.
- Sarasota Bradenton International Airport (SRQ): SRQ set a record 4,514,781 passengers in 2025, up 6.34 percent, and lies about 8 miles west, roughly 15 minutes on University Parkway. Practical fly in ownership lets seasonal owners keep vehicles here year round rather than trailering them south each season.
- Sarasota Classic Car Museum: About 8 miles west at 5500 N. Tamiami Trail, the museum displays more than 75 automobiles and is recognized as the second oldest continuously operating antique car museum in the nation. It is the organizing institution for collector culture in this market.
Location Highlights
- MSA Position: North Port to Sarasota to Bradenton is Southwest Florida's largest metropolitan area at roughly 948,158 residents, and this site sits in its fastest growing northeast quadrant.
- Enthusiast / Collector Culture: The Sarasota Classic Car Museum, more than 75 automobiles and the nation's second oldest continuously operating antique car museum, is about 8 miles west.
- Infrastructure & Recreation: Nathan Benderson Park delivers 550 acres and a 400 acre lake about 2 miles northwest, with a 3.5 mile paved loop open through the March to November season.
- Market-Specific Factor: State backed Citizens filed an 8.7 percent average statewide rate decrease in early 2026, and owners emerging from the post hurricane insurance cycle now favor engineered, enclosed structures.
- Tax & Quality of Life: No state individual income tax, and Florida led the nation with roughly $20.6 billion in net adjusted gross income migration in the latest IRS filing year.
- High Net Worth Concentration: 2,268 households earning $200,000 or more inside 3 miles, 6,816 inside 5 miles and 12,422 inside 7 miles, against a 3 mile median home value of $556,645.
Area Demographics (ACS 2024)
5-Mile Profile: Population 87,911 | Median HH Income $99,440 | HH Earning $150K+ 29.1% | Median Age 52.6 | Age 55+ 47.9% | Seasonal Units 9.0% | Households with 3+ Vehicles 16.0%
Wealth Index: 7.7 / 10 (SCK portfolio-relative)
Unit values
| Unit | Size | Market value | $ / SF |
|---|---|---|---|
| Unit 1 | 1,262 SF | $563,000 | $446 / SF |
| Unit 2 | 1,262 SF | $562,000 | $445 / SF |
| Unit 3 | 1,262 SF | $572,000 | $453 / SF |
| Unit 4 | 1,056 SF | $487,000 | $461 / SF |
| Unit 5 | 1,262 SF | $572,000 | $453 / SF |
| Unit 6 | 1,262 SF | $572,000 | $453 / SF |
| Unit 7 | 1,262 SF | $572,000 | $453 / SF |
| Unit 8 | 1,262 SF | $573,000 | $454 / SF |
| Unit 9 | 1,056 SF | $485,000 | $459 / SF |
| Unit 10 | 1,056 SF | $489,000 | $463 / SF |
| Unit 11 | 1,056 SF | $487,000 | $461 / SF |
| Unit 12 | 1,262 SF | $563,000 | $446 / SF |
| Unit 13 | 1,262 SF | $572,000 | $453 / SF |
| Unit 14 | 1,262 SF | $573,000 | $454 / SF |
| Unit 15 | 1,262 SF | $573,000 | $454 / SF |
| Unit 16 | 1,262 SF | $573,000 | $454 / SF |
| Unit 17 | 1,262 SF | $572,000 | $453 / SF |
| Unit 18 | 1,262 SF | $567,000 | $449 / SF |
| Unit 19 | 1,262 SF | $572,000 | $453 / SF |
| Unit 20 | 1,262 SF | $567,000 | $449 / SF |
| Unit 21 | 1,262 SF | $567,000 | $449 / SF |
| Unit 22 | 1,262 SF | $573,000 | $454 / SF |
| Unit 23 | 1,056 SF | $487,000 | $461 / SF |
| Unit 24 | 1,056 SF | $487,000 | $461 / SF |
| Unit 25 | 1,262 SF | $573,000 | $454 / SF |
| Unit 26 | 1,262 SF | $573,000 | $454 / SF |
| Unit 27 | 1,262 SF | $561,000 | $445 / SF |
| Unit 28 | 1,262 SF | $573,000 | $454 / SF |
| Unit 29 | 1,262 SF | $572,000 | $453 / SF |
| Unit 30 | 1,262 SF | $573,000 | $454 / SF |
| Unit 31 | 1,262 SF | $573,000 | $454 / SF |
| Unit 32 | 1,262 SF | $573,000 | $454 / SF |
| Unit 33 | 1,262 SF | $566,000 | $448 / SF |
| Unit 34 | 1,262 SF | $573,000 | $454 / SF |
| Unit 35 | 1,262 SF | $567,000 | $449 / SF |
| Unit 36 | 1,262 SF | $573,000 | $454 / SF |
| Unit 37 | 1,262 SF | $570,000 | $451 / SF |
| Unit 38 | 1,262 SF | $573,000 | $454 / SF |
| Unit 39 | 1,354 SF | $610,000 | $451 / SF |
| Unit 40 | 1,262 SF | $573,000 | $454 / SF |
| Unit 41 | 1,262 SF | $573,000 | $454 / SF |
| Unit 42 | 1,262 SF | $573,000 | $454 / SF |
| Unit 43 | 1,262 SF | $573,000 | $454 / SF |
| Unit 44 | 1,262 SF | $573,000 | $454 / SF |
| Unit 45 | 1,262 SF | $561,000 | $445 / SF |
| Unit 46 | 1,262 SF | $573,000 | $454 / SF |
| Unit 47 | 2,130 SF | $835,000 | $392 / SF |
| Unit 48 | 2,167 SF | $844,000 | $389 / SF |
| Unit 49 | 1,262 SF | $572,000 | $453 / SF |
| Unit 50 | 1,262 SF | $569,000 | $451 / SF |
| Unit 51 | 1,262 SF | $570,000 | $451 / SF |
| Unit 52 | 1,262 SF | $573,000 | $454 / SF |
| Unit 53 | 1,262 SF | $569,000 | $451 / SF |
| Unit 54 | 1,262 SF | $572,000 | $453 / SF |
| Unit 55 | 1,056 SF | $487,000 | $461 / SF |
| Unit 56 | 1,788 SF | $748,000 | $418 / SF |
| Unit 57 | 1,941 SF | $785,000 | $404 / SF |
| Unit 58 | 1,056 SF | $487,000 | $461 / SF |
| Unit 59 | 1,262 SF | $573,000 | $454 / SF |
| Unit 60 | 1,262 SF | $573,000 | $454 / SF |
| Unit 61 | 1,262 SF | $573,000 | $454 / SF |
| Unit 62 | 1,262 SF | $572,000 | $453 / SF |
| Unit 63 | 1,262 SF | $573,000 | $454 / SF |
| Unit 64 | 1,262 SF | $573,000 | $454 / SF |
| Unit 65 | 1,262 SF | $573,000 | $454 / SF |