487 MEADOW LARK DR
About This Property
The location is perfect, between Downtown Sarasota, St. Armands Circle, and Lido Key Beach, this amazing residence sits on 135 feet of premier Sarasota Bay frontage with breathtaking wide-open water views and stunning city skyline vistas. This home features an abundance of natural light in every room.
Designed for both elegance and functionality, this home offers 5 spacious en-suite bedrooms, including a luxurious first-floor primary suite with a spa-inspired bath.
Deep boating waters with no bridges to the Gulf make this property a dream for boating enthusiasts, complete with a private dock and a 24,000-pound boat lift. Outdoor living is elevated with a large, heated saltwater pool featuring a tanning deck, umbrella holder, spa, and expansive entertaining areas.
Multiple oversized patios on each floor, a rooftop deck/crow's nest, and a fully equipped outdoor kitchen with a poolside half bath accessible from both inside and outside create the ideal setting for entertaining and enjoying spectacular sunsets over Sarasota Bay.
Inside, sophistication continues with a formal dining room, private office, expansive game / entertainment room with guest bath, and a beautifully finished elevator with rich wood paneling and tile flooring and a kitchen that is every chef's dream, Wolf appliances, Subzero fridge, 2 dishwashers, granite countertops and breakfast nook.
Additional luxury features include hurricane-rated 8 foot windows and doors, generator, 3-car garage with Tesla EV charging station, and high-end finishes throughout.
Residents of Bird Key enjoy an exclusive private island lifestyle with deep-water canals, bayfront estates, the renowned Bird Key Yacht Club, and quick access to world-class dining, shopping, arts, golf, tennis, and the renowned The John and Mable Ringling Museum of Art, and award winning white sandy beaches. Bird Key and Sarasota have long attracted high-profile residents including Brian Johnson, Jerry Springer, Martina Navratilova, Lucille Ball, Stephen King, Joe Perry, Dick Vitale Bird Key is more than an address-it is a statement of prestige, privacy, and paradise. Call today for your private showing.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 7, 2026 | Price Decreased |
$11,400,000
↓ $500K
(4.2%) | |
| Price Decreased | |||
| Apr 29, 2026 | Listed by SOUTH BEACHES REAL ESTATE | $11,900,000 | |
| Listed by SOUTH BEACHES REAL ESTATE | |||
| Aug 10, 2017 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017