508 Siesta DRIVE, Siesta Key, FL, 34242 | $3,200,000

One or more photo(s) has been virtually staged. Experience the ultimate in coastal living with this two-story residence in the highly desirable Bay Island Shores on the world-renowned Siesta Key. Located in a prime waterfront setting, this all-concrete block home boasts a new tile roof in 2016 and offers unparalleled access to deep water and sailboat-friendly waters, making it the perfect haven for boating enthusiasts. The property, set on over a . 35-acre lot, is nestled in a protected basin and features a newer dock with composite decking, complete with two boat lifts (12, 000 and 4, 500 pounds), installed in 2018—truly a boater’s paradise. The home’s elevated design places all living spaces on the second floor, ensuring captivating water views and privacy. A secure, walled gated entrance leads to a spacious garage area of nearly 3, 000 square feet, offering abundant storage for vehicles, watercraft, outdoor equipment, just off the pool and spa. With room for multiple cars, golf carts, motorcycles, and kayaks, this area can also be transformed into a game room, home theater, fitness space, or sauna—catering to a variety of lifestyles and interests. Perfectly suited for both relaxation and entertaining, the home features high ceilings, crown molding, an elevator, and expansive living areas that flow effortlessly into the outdoors. A wraparound balcony, accessible from nearly every room, allows you to enjoy the island breeze and scenic surroundings, while multiple indoor and outdoor spaces provide plenty of room to host family and friends. Located on the desirable north end of Siesta Key, this property is just moments from the renowned Siesta Key Beach and the vibrant downtown Sarasota area. Additionally, being within the city of Sarasota, the property offers the flexibility of weekly rentals, making it an excellent investment opportunity. This exceptional home combines the best of island living with modern amenities—your coastal dream awaits.

Features

  • Elevator: Y
  • Rooms: 14
  • Bedrooms: 3
  • Baths: 2 full / 1 half
  • Laundry: Inside, Laundry Room
  • Year Built: 1994
  • Garage: 2-car
  • Heating: Central
  • Cooling: Central Air
  • Approx Sq. Feet: 2,943
  • Acreage: 0.35
  • Est. Taxes: $10,051
  • Lot Desc: Flood Insurance Required, FloodZone, City Lot, Oversized Lot, Sidewalk
  • View: Water
  • Pool: Deck, Gunite, In Ground, Screen Enclosure
  • Pet Policy: Cats OK, Dogs OK, Yes
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Refrigerator, Washer
  • MLS#: A4632039
  • Days on Market: 37 days
  • Website: https://www.raveis.com
    /eprop/A4632039/508siestadrive_siestakey_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 1/20/2025 3:47:07 PM)
Listing courtesy of PREMIER SOTHEBYS INTL REALTY   Phone: 941-907-9541

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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 16953

917.838.7300

Melissa.Cohn@raveis.com

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508 Siesta DRIVE, Siesta Key, FL, 34242

$3,200,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

RVP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 917.838.7300

Melissa.Cohn@raveis.com

NMLS Mortgage Loan Originator ID 16953

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $2,560,000 $2,560,000 $2,560,000
Term 360 months 360 months 180 months
Initial Interest Rate** 7.000% 6.625% 6.625%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.200% 6.748% 6.786%
Monthly Tax Payment $838 $838 $838
H/O Insurance Payment $125 $125 $125
Initial Principal & Interest Pmt $17,032 $16,392 $22,477
Total Monthly Payment $17,995 $17,355 $23,440

* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.

** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.

The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.