8009 MIDNIGHT PASS ROAD
About This Property
Positioned on Midnight Pass Road on the quieter, south end of the key, this lot offers 49' of direct bay frontage ideal for a new dock and boat lift, with easy Intracoastal access and no fixed bridges standing between you and the Gulf of Mexico. Picture your mornings on the water's edge as the sun rises over the bay, and your evenings watching dolphins roll past your home in the golden glow of a Siesta Key sunset.
The location speaks for itself: minutes from Turtle Beach's soft sand and laid-back charm, a short drive to the world-renowned white sand of Siesta Key Beach and the shops and restaurants of Siesta Village, and only 20 minutes to the culture, shopping, dining, and energy of downtown Sarasota.
This is a rare opportunity to build new construction on a true waterfront lot in one of Southwest Florida's most sought-after barrier island communities, a legacy property ready to help you bring your dream of your waterfront home a reality. Remember to add a roof-top deck to enjoy Gulf of Mexico water views and amazing daily sunsets!
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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.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017