314 Ringling Point DRIVE
About This Property
Defining features include a long, broad roof overhang and wrap around terraces like the recognized Sarasota School of Architecture designed for our specific climate and an active indoor/outdoor lifestyle. "Window walls" and sliding glass doors open to an additional 1,300 square feet of elevated, outdoor living space and provide fresh sea breezes, endless sunsets, and views from every angle. Inside, you'll find an open plan with varied ceiling heights, clerestory windows, polished ductwork, and exposed steel beams. Warming elements include wood floors throughout, and a stacked stone accent wall in the living room showcasing a decorative fireplace as a focal point. The kitchen has an island perfect for entertaining with barstools, wine cooler and even a creative ice bucket built right into the countertop. The stainless-steel appliance package includes a 5 burner, natural gas range and a side-by-side Sub Zero. The en-suite bedrooms each have private outdoor spaces and views of the lush neighborhood and surrounding waters. The 4th bedroom is currently used as a loft office space and overlooks the entire living area below. It has a private balconette and views of downtown Sarasota and a continuous Florida cloud display. Opening this home provides 4,500 square feet of living space in addition to the "resort like" outdoor amenities which include a saltwater pool, waterfall, spa and a waterfront terrace cascading toward the bay. All of this is surrounded by exotic and tropical landscaping including majestic rows of Royal Palms. The garage has an electric vehicle charging station and a recently installed smoked-glass door. Adjacent to the garage, you will also find 1,200 square feet of space most recently used as a gymnasium with a sauna. This is also a perfect spot to store water toys like boards and kayaks easily launched right outside.
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What does this mean?
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%.
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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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017