Sunset Automotive Group buys land near Sunset Kia

BUYER: Geyer-Dickinson Partnership LLP, Sarasota
SELLER: Health Quest Realty IV
PROPERTY: 7901 S. Tamiami Trail, Sarasota
PRICE: $1.05 million
LAW FIRM ON DEED: Williams Parker Harrison Dietz & Getzen, Sarasota

PLANS, DESCRIPTION: Sunset Automotive Group purchased a 3-acre vacant triangular parcel of land on U.S. 41 north of Beneva Road for $1.05 million.

The price equated to $350,000 per acre. That figure is lower than the two-year average price per acre for retail land ($893,571) in the Tampa Bay area, according to the CoStar Group.

Sunset Automotive Group previously rezoned the property from office, professional and institutional to commercial intensive. At the time of the rezone it said its goal was to develop the western portion as an extension of the adjacent Sunset Kia dealership. The remainder of the land, it says, would be left unchanged.

The group owns 16 dealerships, including: Volvo of Sarasota, Coast Infiniti, Coast Cadillac, Crest Cadillac, Tropical Cadillac, Suncoast Audi, Suncoast Porsche, Suncoast Volkswagen, Sunset Chevrolet, Sunset Buick GMC, Sunset Dodge Chrysler Jeep, Sunset Subaru, Sunset Fiat of Sarasota, Sunset Kia of Bradenton, Sunset Kia of Sarasota and Sunset Kia of Venice.