by Global Lifestyle Properties

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$5,990,000
● House - For Sale

501 Bay Lane

Key Biscayne, FL 33149
bedrooms
5 Beds
bathrooms
4 Baths, 1 Half Bath
square feet
4,759 Ft²
$31,461
Est. Monthly

About This Property

Prime location on one of Key Biscayne's most exclusive residential streets, surrounded by some of the island's most prestigious waterfront estates. An exceptional opportunity to own a substantial residence in the heart of Miami's island paradise. Situated on a generous 10,000 SF lot, this light-filled home offers 4,759 SF of living space, five bedrooms, four full bathrooms and one half bathroom, providing wonderful space, privacy, and flexibility for today's lifestyle. High ceilings and abundant natural light enhance the home's generous proportions, while well-defined living, dining, and family areas create a comfortable and functional floor plan for both everyday living and entertaining. The interior spaces open to an expansive covered terrace, creating a natural connection to the outdoors and allowing for year-round enjoyment of South Florida living. Surrounded by lush, mature landscaping, the private backyard features a beautiful swimming pool and generous areas for outdoor dining, entertaining, and spending time with family and friends. Built in 1995 and complete with a garage, the residence can be enjoyed as it is today while offering endless possibilities to personalize and enhance over time. A rare opportunity to make this home your own while enjoying an exceptional address, privacy, and the extraordinary lifestyle that make Key Biscayne one of South Florida's most desirable places to call home
Unit Size
4,759 Ft²
Days on Market
43 days
Land Size
0.23 acres
Price per sqft
$1,259
Property Type
House
Property Taxes
$2,049
HOA Dues
-
Year Built
1995

Listed By

Brigitte Nachtigall
Great Properties International LLC
Jorge Boj
Great Properties International LLC

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Last updated: 26 days ago (Miami MLS #A12074814)

Price History

Date / Event Date Event Price
Aug 24, 2026 Listed by One Sotheby's International Realty $5,990,000
Listed by One Sotheby's International Realty
Jul 30, 2017 Listed $3,400,000
Listed
Elegant elevated residence on exclusive Bay Lane, nestled among multi-million dollar residences. Oversized lot. Large rooms, high ceilings. Entrance foyer w/grand staircase leads to formal living, formal dining, family room. Guest/in-laws qtrs. on 1st flo or. Covered terrace overlooking pool. 2nd floor offers oversized Master suite w/his & hers closets. Additional 2 bedrooms on 2nd floor. Staff qtrs. w/separate stairs access. Polished porcelain floors throughout house! 2-car garage. Circular driveway.The manager has listed the unit size as 5099 square feet.
Nov 2, 1994 Sold
Sold

Property Highlights

Parking Available
Parking Details
Has Garage
Has Open Parking
Parking Features: Circular Driveway, Covered, Driveway
Garage Spaces: 2
Interior Details
Half Bathrooms: 1
Full Bathrooms: 4
Interior Features: Built-in Features, Walk-In Closet(s), First Floor Entry, Den/Library/Office, Family Room
Appliances: Dishwasher, Dryer, Electric Range, Electric Water Heater, Microwave, Refrigerator, Washer, Wall Oven
Flooring Type: Tile, Ceramic Floor
Exterior Details
Square Footage: 4759
Architectural Style: Attached, Two Story
Year Built: 1995
Building Name: TROPICAL ISLE HOMES SUB 3
Building Area Total: 6298
Building Area Units: Square Feet
Window Features: Blinds, Drapes, Complete Accordian Shutters
Construction Materials: CBS Construction
Patio and Porch Features: Porch, Patio
Pool Features: In Ground
Lot Features: Less Than 1/4 Acre Lot
Lot Size Area: 10000
Lot Size Units: Square Feet
Lot Size Acres: 0.23
Lot Size Square Feet: 10000
Water Source: Municipal Water
Financial Details
Tax Annual Amount: $24,587
Utilities Details
Cooling Type: Electric
Heating Type: Electric
Sewer : Public Sewer

Building Info

Overview

    General

  • Year Built: 1995
  • Effective Year Built: 1995
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 0
  • Building Quality: 1
  • Construction Type: 4
  • Building Style: 0
  • Exterior Walls Type: 7
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Garage Square Area: 357
  • Parking Space Count: 0
  • Patio Type: 25
  • Porch Type: 36
  • Pool Type: 8

    Dimensions

  • Lot Size Square Feet: 10,000
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 917
  • Total Building Area: 6,298
  • Gross Building Area: 6,298
  • Building Area: 4,759
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 4,759
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: TROPICAL ISLE HOMES SUB 3RD ADDN
  • Land Acres: 0000000230
  • Standard Land Use Code: 1001
  • County Land Use Code: 0101
  • State Land Use Code: 001
  • Legal Description 1: 32 54 42 5-6 55 42 PB 50-83 TROPICAL ISLE HOMES SUB 3RD ADDN LOT 2 BLK 16 LOT SIZE 10000.00 SQ FT OR 16566-3945 1094 1

Neighborhood

  • School District Name: Dade County School District
  • School Tax School District: KEY BISCAYNE
  • Census Tract: 004602

Zoning

  • Zoning: 2000

Geography

  • Assessors Map Reference: 272
  • District: 24
  • Parcel: 24-4232-005-0730
  • Block: 16
  • Lot: 2
  • Meridian: SEC 32 TWN 54S RNG 42E
  • Municipality: KEY BISCAYNE
  • Latitude: 25.6922
  • Longitude: -80.1729

    Address

  • Full Address: 501 Bay Ln
  • Address - House Number: 501
  • Address - Street Name: Bay
  • Address - Suffix Type: Ln
  • State: FL
  • City Name: Key Biscayne
  • Carrier Code: C077
  • 4-Digit Zip Code: 1750
  • Zip Code: 33149

Valuation

    Tax

  • Total Area: 5,099
  • Tax Year: 2023
  • Tax Amount: $2,369,353
  • Tax Rate Code Area: 2400

    Appraisal Valuation

  • Standard Deviation: 0.1354
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 84
  • Final Value: 4,283,800
  • High Value: 4,864,186
  • Low Value: 3,703,414

    Market Valuation

  • Market Total Value: $3,306,521
  • Market Land Value: $2,012,500
  • Market Improvement Value: $1,294,021

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,423,605

    Sales

  • Current Sale Contract Date: Oct 19, 1994
  • Current Sale Recording Date: Nov 02, 1994
  • Current Sale Price:
  • Current Sale Document Type: 71

    Financing

  • First Mortgage Financing Type: FIX
Data used for valuation calculations is provided by RealtyHop, and other third party sources

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Key Biscayne


Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 200 Galen Drive, Key Biscayne, FL, 33149

$3,800 /mo

  • 1 Bed
  • 1 Bath
  • 690 ft²
200 Galen Drive #308, Key Biscayne, FL, 33149 Listing by Cliff Glansen


Frequently Asked Questions

When was property at 501 Bay Lane built and last sold?
The property at 501 Bay Lane was built in 1995 and last sold on Oct 19, 1994 for $450,000.
How much is this home worth?
The estimated value of the home located at 501 Bay Lane is $6,049,900.
What are some comparable homes to 501 Bay Lane?
There are currently no comparable homes to 501 Bay Lane.