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    Gulf-Facing Parcel in Lido Shores Title is generated by Realmo AI

    1003 WESTWAY DRIVE, Sarasota, FL 34236

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    Picture of Residential land & home lots at 1003 WESTWAY DRIVE, Sarasota, FL
    For Sale
    $6,100,000

    Land - SARASOTA, FL

    Lot size:
    0.69 Acres
    Added:
    Feb 13, 2026
    Days on Market:
    113
    Last Refresh:
    Jun 6 at 6:06 am

    Property Features for 1003 WESTWAY DRIVE

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RSFE
    Pets allowed
    Yes
    Standard status
    Active
    APN
    0013150008
    Lot size
    0.69 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    58590.56
    Expense value
    41.669998168945
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Monica Verinder
    Monica Verinder

    Listing agent Monica Verinder License #3291916

    Listing office COLDWELL BANKER REALTY 595 Bay Isles, Plant City, FL

    Listing date Feb 13, 2026

    MLS# A4680837 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct Gulf‑facing access to Lido Beach in the exclusive Lido Shores neighborhood.
    • Large .69‑acre parcel offering potential for Gulf of Mexico, Sarasota Bay, and downtown skyline views.
    • Unrivaled privacy due to location at the end of a quiet street and bordering a nature preserve.
    • Private beach access for Lido Shores residents.
    • Proximity to the shopping, dining, and cultural attractions of St. Armands Circle.
    • Opportunity to purchase the adjacent parcel to create a larger estate.

    Overview

    This .69-acre Gulf-facing parcel is located in the exclusive Lido Shores neighborhood, offering direct access to Lido Beach. Situated at the end of a quiet street and bordered by a nature preserve on one side, the property at 1003 Westway Drive provides a sense of privacy and access to Pansy Bayou. A thoughtfully designed residence on this lot could offer views of the Gulf of Mexico, Sarasota Bay, and the downtown skyline. Residents of Lido Shores benefit from private beach access. The location is a short stroll from the shopping, dining, and cultural experiences of St. Armands Circle. The adjacent parcel is also available, presenting the opportunity to assemble an even grander estate or a guest house. This location offers the potential for a lifestyle centered around water, nature, and refined coastal living.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Law Firm Building Supply Real Estate Agency Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.586943
    Latitude
    27.324701

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    FAQs

    What type of property is this?
    Residential land & home lot - Exceptional .69-acre parcel with Gulf access in Sarasota.
    Where is this residential land & home lot located?
    The property is located at 1003 WESTWAY DRIVE Sarasota, FL.
    What is the asking price?
    The asking price for this property is $6,100,000.
    What are key features of this property?
    This property features: Direct Gulf‑facing access to Lido Beach in the exclusive Lido Shores neighborhood.; Large .69‑acre parcel offering potential for Gulf of Mexico, Sarasota Bay, and downtown skyline views.; Unrivaled privacy due to location at the end of a quiet street and bordering a nature preserve.
    (941) 704-4040
    We can help!
    Listing Contact
    Monica Verinder
    Monica Verinder
    Real Estate License ID: 3291916
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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