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A rare opportunity on Siesta Key’s Little Sarasota Bay. Positioned at the end of a quiet street in the established Midnight Harbor neighborhood, this 0. 45-acre bayfront lot offers 287 feet of water frontage, approximately 92 feet along the bay and 195 feet along a protected saltwater canal, creating water on two sides and expansive open water views. The property is being offered for land value and presents an exceptional canvas for a new custom bayfront estate. The existing structure is not being marketed for renovation, allowing a buyer or builder to focus fully on designing a residence that maximizes the site’s orientation, water views and waterfront lifestyle potential. The bayside seawall was replaced in 2014, along with 20 feet of canal seawall. The protected canal frontage provides practical boating access with sailboat water and no fixed bridges, allowing direct navigation to the Intracoastal Waterway and Gulf beyond. The depth of the lot and the dual water exposure create compelling opportunities for architectural design, outdoor living spaces and waterfront amenities. The site is enhanced by mature coastal trees that contribute character and scale, elements often absent in newly created waterfront parcels. With nearly half an acre and substantial waterfront exposure, the property offers the scale required for a significant new coastal residence designed to modern building standards and elevated construction. Just minutes from Siesta Beach and offering convenient access to the mainland via the Stickney Point Bridge, the setting combines island privacy with proximity to Sarasota’s dining, cultural and entertainment districts. Waterfront redevelopment opportunities with this amount of bay and canal frontage on Siesta Key are increasingly limited, making this property a compelling investment for a builder, developer or buyer seeking to create a legacy waterfront home.
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,750,000
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 | $2,200,000 | $2,200,000 | $2,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.250% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.362% | 6.349% | 6.183% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $13,190 | $13,546 | $18,565 |
| Total Monthly Payment | $13,315 | $13,671 | $18,690 |
* 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.