WATERFRONT & NO HOA Welcome to an exceptional opportunity on Siesta Key! Located just one mile from Turtle Beach, this property offers privacy, flexibility, and the serene beauty of Heron Lagoon. Spanning approximately 2 miles and covering 48 acres, Heron Lagoon is a peaceful, non-navigable body of water ideal for enjoying tranquil views, abundant wildlife, and stunning sunsets that rival those seen on nearby beaches.
The lot is equipped with a built-in drainage system, providing an added layer of functionality and security for the property. The existing structure, which has experienced flood damage but has been professionally remediated, offers a clean slate for renovation or rebuilding. An updated FEMA appraisal has been completed, allowing for greater renovation costs, and a cost analysis on raising the structure has also been conducted, giving new owners valuable insights for future development. Current property, which has recently undergone remediation from flood damage, features include 300 ft. + private driveway and fenced backyard with composite dock and plenty of room for a hot tub or pool. The back patio also features an electric awning and mature palms adding additional privacy. Interior features include impact sliding glass doors, windows, french doors, skylights (also with blinds, ) electronic interior shades, and plantation shutters.
With NO HOA, a rarity in Sarasota County, you have the freedom to customize the property to suit your needs. The home is conveniently located along the daily route of the free Siesta Key Trolley, providing effortless access to the island’s attractions.
Additional highlights include a private driveway with extra parking pad, mature palm trees, a large lawn with ample space for multiple automobiles, an RV, or even a boat, and paver patios in both the front and backyard. A professional feasibility study completed in summer 2024 also highlights the potential to add a detached garage with an office and a pool, offering endless customization possibilities.
Situated just 7 miles from downtown Sarasota and close to Gulf Gate’s shopping, dining, and entertainment, this property combines the tranquility of island living with the convenience of nearby urban amenities. Don’t miss this rare opportunity to create your dream home on beautiful Siesta Key. Contact us today for more information or to schedule a tour!
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$1,499,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $1,199,200 | $1,199,200 | $1,199,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.559% | 6.723% | 6.847% |
Monthly Tax Payment | $853 | $853 | $853 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,778 | $7,679 | $10,529 |
Total Monthly Payment | $8,756 | $8,657 | $11,507 |
* 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.