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    Waterfront Residential Build Site with Seawall Title is generated by Realmo AI

    5448 AZURE WAY, Sarasota, FL 34242

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    Claim this Listing
    For Sale
    $1,750,000

    Land - SARASOTA, FL

    Lot size:
    0.33 Acres
    Added:
    Mar 31, 2026
    Days on Market:
    67
    Last Refresh:
    Jun 5 at 12:06 pm

    Property Features for 5448 AZURE WAY

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    RSF2
    Pets allowed
    Cats OK, Dogs OK
    Exterior features
    Paved
    Standard status
    Active
    APN
    0082150023
    Lot size
    0.33 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    14262.57
    Expense value
    16.670000076294
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Water front features
    Canal - Saltwater, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Carlos Santos
    Carlos Santos

    Listing agent Carlos Santos License #3262780

    Listing office PREMIER SOTHEBY'S INTERNATIONAL REALTY 50 Central Ave Suite 110, Naples, FL

    Listing date Mar 31, 2026

    MLS# A4688348 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

    • Waterfront canal - saltwater lot with private dock and direct deep‑water access for boating into the Intracoastal Waterway and Gulf of Mexico.
    • Updated 2022 10,000‑lb boat lift plus dock area for easy water access.
    • Recently raised seawall elevated an additional 24 inches to approx. 5 feet, with concrete steps and a spacious deck.
    • Water access features include concrete steps and a convenient water access ladder, plus a capped freshwater irrigation well for landscaping.
    • Build‑ready lot with submitted architectural plans for an approx. 4,000 SF, 4‑bedroom, 4‑bath custom home with private elevator and pool.
    • Lot offers approximately over 15,000 SF (per architectural calculations) and is located on a quiet, no‑through‑traffic cul‑de‑sac.

    Overview

    This build-ready waterfront residential lot includes a private dock, concrete waterfront steps, a spacious deck, and a water access ladder. The property features a substantially raised seawall that was elevated an additional 24 inches, for an approximate elevation of 5 feet. A capped freshwater irrigation well is also in place for landscaping maintenance. Submitted architectural plans are available for a nearly 4,000-square-foot custom home with four bedrooms and four baths, including a private elevator and pool.

    The site is located on a quiet, no-through-traffic cul-de-sac in the Siesta Isles enclave on Siesta Key. Public remarks indicate it is close to Siesta Key Beach, described as about a 5-minute walk or drive away. Boating access is described as direct deep-water access, with a private dock and a recently updated (2022) 10,000-pound boat lift, for cruising into the Intracoastal Waterway and the Gulf of Mexico.

    For buyers seeking a waterfront homesite with boating improvements already in place and plans ready to review with an architect, this RSF2-zoned property offers a straightforward path to building in a residential setting. Its raised seawall and existing waterfront features are designed to support daily livability and long-term waterfront protection as you develop the site to your specifications.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lynda H Alexander ... Accounting Firm

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Real Estate Agency Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.552336
    Latitude
    27.270928

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    FAQs

    What type of property is this?
    Waterfront Land - Build-ready waterfront lot with a private dock, 10,000-pound boat lift, and substantially raised seawall in a quiet cul-de-sac.
    Where is this waterfront land located?
    The property is located at 5448 AZURE WAY Sarasota, FL.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Waterfront canal - saltwater lot with private dock and direct deep‑water access for boating into the Intracoastal Waterway and Gulf of Mexico.; Updated 2022 10,000‑lb boat lift plus dock area for easy water access.; Recently raised seawall elevated an additional 24 inches to approx. 5 feet, with concrete steps and a spacious deck.
    (941) 735-8302
    We can help!
    Listing Contact
    Carlos Santos
    Carlos Santos
    Real Estate License ID: 3262780
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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.

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