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531 WEDGE LANE
About This Property
A comprehensive 2018 renovation introduced elevated style and modern functionality, anchored by a stunning chef's kitchen appointed with Thermador appliances, built-in refrigeration, and a generous island. Just beyond, an expansive butler's pantry and secondary prep kitchen enhance both convenience and flow, creating an effortless environment for everyday living and entertaining.
Natural light fills the interiors, drawing attention to tranquil canal views and soft glimpses of the bay from the den. The upstairs primary suite serves as a private retreat, complete with its own balcony overlooking the water-an inviting setting for quiet mornings and sunset evenings.
Outdoors, a private, low-maintenance setting unfolds with a sparkling pool and beautifully updated waterfront features, including a newer dock, seawall, and 24,000 lb boat lift.
Additional highlights include hurricane-impact windows and doors, classic plantation shutters, and 2022 air conditioning systems-completing this exceptional offering in one of Longboat Key's most desirable waterfront communities.
Ideally located just moments from St. Armands Circle, with its renowned dining and boutique shopping, this residence offers a lifestyle of effortless coastal sophistication.
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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