549 BAY STREET
About This Property
Opportunity awaits with this rare 50x144 vacant lot, perfectly positioned just a short walk to Downtown Dunedin and the Pinellas Trail. Whether you're dreaming of building your forever home or developing a multi-unit investment, this cleared and ready-to-build property offers incredible potential in one of the most desirable coastal communities in Florida.
Surrounded by charming homes, vibrant local businesses, and a true golf cart lifestyle, this lot is a blank canvas in an unbeatable location. Please note: this listing is for the vacant lot only and does not include the neighboring property with the house.
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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%.
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.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 29, 2025 | Sold | ||
| Sold | |||
| Jul 2, 2025 | In contract | - | |
| In contract | |||
| Jun 28, 2025 | Listed by KATIE DUCHARME REALTY, LLC | $300,000 | |
| Listed by KATIE DUCHARME REALTY, LLC | |||
| May 23, 2025 | Price Decreased |
$725,000
↓ $64K
(8.1%) | |
| Price Decreased | |||
| Apr 28, 2025 | Listed | $789,000 | |
| Listed | |||
| | |||
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Prime Downtown Dunedin Development Opportunity – Build Up to 10 Townhomes!
Attention builders and developers — opportunities like this are rare! Also property is NOT located in a flood zone!
Welcome to 549 & 551 Bay Street, offering a combined 15,267 square feet of land(.35 of an acre) in the heart of downtown Dunedin! Perfectly located just one block north of Skinner Boulevard, this property sits in the most walkable part of the city, surrounded by award-winning restaurants, breweries, boutiques, parks, and the Pinellas Trail.
Zoned Downtown Residential (DR), this site allows for up to 10 townhome units — an extraordinary chance to bring a new development project to life in one of Tampa Bay’s hottest markets. Downtown Dunedin continues to experience explosive growth, making this an ideal spot for luxury townhomes, modern urban living spaces, or high-demand investment properties.
With a lot size of 15,267 sq ft, your future project will enjoy ample space, premium walkability, and an unbeatable location — just minutes from the Dunedin Marina, the Causeway, and world-famous Honeymoon Island.
Don’t miss this rare opportunity to develop in the heart of Dunedin’s booming downtown district. Bring your vision — the possibilities are endless!
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017