Experience elevated coastal luxury in this stunning three-story
all-concrete Mediterranean estate offering four bedrooms, four full
baths, a five-car garage and a beautiful heated salt pool, all
positioned on an oversized lot directly on the Gulf with
unobstructed picturesque water views. An elegant double spiral
staircase and water fountain lead to a grand double wooden entry
door outfitted with wrought iron that sets the tone for the
exceptional craftsmanship and opulence found throughout. This
property was constructed to the highest standards with insulated
concrete forms, concrete flooring and balconies with steel truss
reinforcement, hurricane-rated windows, cast-in-place concrete
walls and 45-foot-deep foundation pilings for added structure and
longevity. The main living level features eye-catching open water
views as you enter, gorgeous travertine flooring, recessed lighting
and an oversized family room showcasing a beautifully detailed
soaring coffered ceiling. The ornate mantle features a gas
fireplace that creates a warm focal point, while a wall of sliding
glass doors and transom windows provides abundant water views,
natural light, serene sunsets and seamless access to the outdoor
balcony living space. A sophisticated wet bar, built-in surround
sound and versatile office or fourth bedroom, with glass French
door balcony access, further enhance the living experience. The
gourmet kitchen is well appointed with custom solid wood cabinetry,
a JennAir gas cooktop with built-in double ovens, a kitchen island
with a prep sink, three separate spacious pantries, granite
countertops, a breakfast area overlooking the water and adjacent
formal dining with an accent tray ceiling. A dedicated media room
with a 120-inch projection screen coupled with surround sound
provides the perfect space for movie nights and entertainment. The
third floor is a private retreat with three separate suites,
adorned with Brazilian hardwood flooring throughout. The lavish
primary suite features sliding glass doors opening to a covered
private balcony with endless water views. The spa-inspired primary
bath features his-and-hers walk-in closets, split vanities, a
walk-in shower with marble accents and an exquisite jetted soaking
tub framed by decorative columns. Two additional suites offer
privacy and comfort, with one having sliding glass doors leading to
its own private covered balcony. Outside, enjoy an oversized heated
saltwater pool and spa while taking in the panoramic water views.
Ample backyard space is outfitted with an elevated sense of
privacy, a firepit and stairs leading directly into Gulf waters,
making water activities achievable. Additional features include a
new elevator that connects every level, making multi-generational
living achievable; split-zoned HVAC; two tankless gas water
heaters; a security camera system; and a central vacuum.
Conveniently located nearby are Weeki Wachee Springs State Park,
Rogers Park, Pine Island Park and SunWest Park. Residents also
enjoy nearby local one-of-a-kind dining and entertainment, marinas,
waterfront attractions and shopping, while larger destinations such
as Spring Hill, Tarpon Springs and the Tampa Bay area are within a
comfortable drive. Hernando Beach offers a peaceful waterfront
setting with an abundance of recreational amenities and local
festivities along with everyday modern conveniences nearby.
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.
Interior Features: Built-in Features, Ceiling Fan(s), Central Vacuum, Coffered Ceiling(s), Elevator, High Ceilings, Stone Counters, Tray Ceiling(s), Walk-In Closet(s), Wet Bar, Eating Space In Kitchen, PrimaryBedroom Upstairs, Thermostat
Appliances: Bar Fridge, Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Exhaust Fan, Freezer, Gas Water Heater, Microwave, Range, Range Hood, Refrigerator, Trash Compactor, Washer, Wine Refrigerator
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