REDUCED $1, 000, 000. Rarely available Gulf to Bay estate size property with 175 feet of Gulf frontage, 175 feet of Bay frontage and encompassing 1. 5 acres is located on the exclusive North End of Casey Key. Casey Key, distinguished for its absence of high-rises, traffic congestion, and private beaches, is one of the most esteemed barrier islands of Sarasota and Florida’s Gulf Coast. Positioned amidst exclusivity and privacy, this property presents a prime canvas for luxurious coastal living. Numerous infrastructure items have been completed facilitating a seamless progression for prospective owners. Most noteworthy is the successful approval and issuance of the permit by the State of Florida Department of Environmental Protection Agency to build west of the coastal construction line, which allows for a 6600+ square foot two-story single-family residence, a 1600+ square foot one-story detached accessory structure with bonus suite, swimming pool, and a reflecting pond at the entrance of the main residence. This is significant because the State EPA permit is the most difficult permit to obtain; also, the Sarasota County building permits are currently in process. The impressive new dock is constructed with premium composite decking and sturdy pilings, which accommodates various vessel sizes, including a 40, 000-pound boat lift for vessels over 40 feet, a 17, 000-pound lift for boats ranging from 25 to 37 feet, plus a double wave runner lift. Extending 162 feet into the bay, the dock offers power and water access throughout its length, alongside amenities like a fish cleaning station and other conveniences. Additionally, the newly drilled 4-inch and 400-foot-deep irrigation well assures that the estate grounds will be a lush and tropical environment. Embracing the island lifestyle, residents relish the warm Gulf breezes by day and breathtaking sunsets at dusk. A favorite transportation choice by residents is often Golf Carts with easy access to nearby tiki bars, restaurants, grocery store, pharmacy and more. The property's strategic location just north of the historic Blackburn Point bridge facilitates excellent proximity to the mainland with top-rated schools, fine dining establishments, Downtown Sarasota, St Armand’s Circle, The Island of Venice, and world-class medical facilities. Notably, Casey Key is the ONLY barrier island in the region with an expressway from Tamiami Trail to I75 creating easy access to all area international airports, plus private air travel options within ten minutes. The allure of this locale is undeniable, as Casey Key Road was recently acclaimed as the most impressive street nationwide, underscoring the unparalleled status of this magical barrier island. Please note the original house built in 1916, which is the first and oldest homestead built on Casey Key, is still on the property; however, there are no barriers to removing the structure.
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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 | $4,400,000 | $4,400,000 | $4,400,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.762% | 6.036% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $28,174 | $28,174 | $38,632 |
Total Monthly Payment | $28,299 | $28,299 | $38,757 |
* 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.