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Price has been reduced for immediate sale. Wake up and stroll to the pristine sands of Lido Beach for a morning swim. Enjoy lunch at one of the many cafés on St. Armands Circle, just minutes from your front door. Spend the evening browsing boutiques or attending one of the areas lively cultural events. This property offers a location that makes every day feel like a vacation. Where the beach and Sarasota?s most vibrant destination are equally within reach. The existing home is a tear-down, offering a blank canvas for your vision. Developers will see the potential for a high-demand rental or luxury new construction, while end-users can design their own elevated coastal retreat tailored to their lifestyle. With unmatched walkability, strong rental demand, and one of Sarasota's most desired locations, this is an opportunity that blends lifestyle and investment potential in one exceptional package. Opportunities like this are rare, build your dream, or your next great investment property, in the heart of Lido Key.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,200,000
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
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $960,000 | $960,000 | $960,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.217% | 6.098% | 5.952% |
| Monthly Tax Payment | $1,538 | $1,538 | $1,538 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,451 | $5,756 | $7,972 |
| Total Monthly Payment | $7,114 | $7,419 | $9,635 |
* 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.