Sophisticated gated living just moments from the heart of downtown
Sarasota. Evoking the timeless elegance of Palm Beach with the
warmth of Old Florida charm, this exceptional Spanish Mediterranean
residence is tucked within the exclusive gated waterfront enclave
of Tocobaga Bay. One of only 9 private residences in the community,
ideally positioned just moments from Sarasota's renowned dining,
arts, shopping, and waterfront attractions. Surrounded by lush
tropical landscaping and tranquil water views, the home is
thoughtfully designed for both sophisticated entertaining and
relaxed everyday living. Expansive interiors are filled with
natural light, highlighted by a grand foyer, travertine flooring,
oversized floor-to-ceiling picture windows, motorized shades, and
custom window treatments throughout. The residence features 3
bedrooms, each with its own ensuite bath, along with a media room
or private office and a private 3-stop elevator. The oversized
4-car garage offers exceptional storage and ample space for
vehicles, golf carts, kayaks, and recreational equipment, while the
air-conditioned bonus room provides flexibility for a fitness
studio, game room, private office, or additional storage. The newly
renovated chef's kitchen is beautifully appointed with premium
finishes including a La Cornue gas cooktop, Sub-Zero refrigerator,
custom Campbell Cabinetry, spacious walk-in pantry, oversized
center island and Taj Mahal quartz countertops and backsplash. The
oversized living room offers an inviting atmosphere for gathering,
while the separate formal dining room is perfectly suited for
elegant dinners and entertaining. The primary suite serves as a
peaceful sanctuary complete with its own Juliette balcony, dual
custom walk-in closets, and a spacious ensuite bath. Two additional
guest suites occupy the third floor, each with private baths,
offering ideal comfort and separation for family and guest.
Designed to embrace Sarasota's indoor-outdoor lifestyle, the
open-air heated saltwater pool is surrounded by lush tropical
landscaping and expansive patio space for lounging and dining.
Additional improvements: new tile roof (2023), new irrigation
system (2024), updated water heaters (2023 & 2024), electrical
panels (2024), and updated A/C units. Residents enjoy access to the
community day dock with direct bay access, perfect for boating and
waterfront enjoyment. Perfectly located near Sarasota's renowned
beaches, St. Armands Circle, The Bay Park, and the iconic Ringling
Bridge, this remarkable residence offers an exceptional lifestyle
just minutes from the energy and culture of downtown Sarasota.
Offered fully furnished and ready for immediate enjoyment.
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Last updated: 4 months ago (Stellar MLS #A4694000)
Price History
Date / Event
Date
Event
Price
Jul 11, 2026
Price Decreased
$3,250,000
↓ $145K
(4.3%)
Price Decreased
Jun 10, 2026
Price Decreased
$3,395,000
↓ $100K
(2.9%)
Price Decreased
May 15, 2026
Listed by MICHAEL SAUNDERS & COMPANY
$3,495,000
Listed by MICHAEL SAUNDERS & COMPANY
Mar 7, 2025
Price Decreased
$3,550,000
↓ $150K
(4.1%)
Price Decreased
Feb 18, 2025
Price Decreased
$3,700,000
↓ $100K
(2.6%)
Price Decreased
Feb 1, 2025
Listed
$3,800,000
Listed
Exclusive Mediterranean Property in Gated Bayfront Tocobaga Bay. A rare gem in the exclusive, gated community of Tocobaga Bay, one of only 9 residences. This Spanish Mediterranean home offers 3,599 sq. ft. of air-conditioned luxury and breathtaking Sarasota Bay views in an intimate and private setting. Featuring 3 bedrooms, 3.5 baths, a private office, a 3-stop elevator, and a heated pool, this residence has every detail carefully designed for comfort and modern sophistication. The heart of the home is the newly renovated kitchen, outfitted with high-end finishes including a La Cornue gas cooktop. Other features will only further impress with a built-in dry bar, crown molding and brand new large pantry. The Primary suite has its own romantic balcony, dual closets, and a spa-like en-suite. The residence showcases a seamless flow between indoor and outdoor living spaces, highlighted by a heated pool and an expansive balcony off the living room—perfect for enjoying tranquil sunsets over the bay. Recently upgraded new roof in 2023 and a brand new irrigation system. Additional highlights include an oversized 4-car garage with air-conditioned storage, custom built-ins in the office/den, and access to the community day dock, providing direct water access for boating enthusiasts. Perfectly located from Sarasota’s renowned beaches, St. Armands Circle, and the lively Downtown District, this exceptional property also offers stunning views of the Ringling Bridge and nearby access to “The Bay” public park. Sold fully furnished, this home is ready for its next owner.
Parking Features: Driveway, Garage Door Opener, Garage Faces Side, Oversized, Tandem
Garage Spaces: 4
Interior Details
Half Bathrooms: 1
Full Bathrooms: 3
Interior Features: Built-in Features, Ceiling Fan(s), Crown Molding, Dry Bar, Elevator, High Ceilings, Smart Home, Stone Counters, Walk-In Closet(s), Solid Wood Cabinets, Split Bedroom, Thermostat, Window Treatments
Appliances: Convection Oven, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Microwave, Range, Range Hood, Refrigerator, Washer, Water Purifier
Flooring Type: Carpet, Tile, Travertine
Door Features: French Doors, Sliding Doors
Laundry Features: Electric Dryer Hookup, Inside, Laundry Room, Washer Hookup
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