Listing provided courtesy of COMPASS FLORIDA LLCas Distributed by MLSGrid- MLS# MFRA4668634MLS Provider

551 S WASHINGTON DRIVESARASOTA, FL 34236

Single Family · 9 Beds · 9 Full Baths · 5,493 Sq. ft. | 0.23 Acres
$9,495,000 Active

551 S WASHINGTON DRIVE Overview

Time on Site:
258 days
Visits:
0

Welcome to Lido Dreams, an exquisite 5,500 square foot luxury retreat nestled in the vibrant heart of St. Armands Circle on Lido Key. This brand-new masterpiece boasts 9 spacious bedrooms and 9 luxurious bathrooms, making it the ideal sanctuary for families or groups seeking both comfort and style. With a private pool, relaxing hot tub, and expansive outdoor living areas, Lido Dreams harmoniously blends modern elegance with the laid-back charm of coastal living. As you step inside, you’ll be greeted by a grand private foyer that sets the tone for the sophistication that awaits. An elevator and stylish stairway provide seamless access to the main living spaces, ensuring that your experience is as convenient as it is enjoyable. The oversized garage accommodates up to five vehicles, providing ample space for parking and storage, perfect for those who love to explore the surrounding area. On the second floor, you’ll find the heart of the home, designed for gatherings and celebrations. The spacious living room invites you to unwind, while the bright dining area and chef’s kitchen create a welcoming hub for shared meals and memorable moments. With five beautifully appointed bedrooms on this level, each featuring its own ensuite bathroom, your guests will enjoy the perfect balance of privacy and comfort. A well-equipped butler's pantry and one of two laundry rooms enhance the functionality of this floor, making it as practical as it is luxurious. Venture to the third floor, where the expansive primary suite offers a private sanctuary. Complete with its own living area, an extra-large bedroom, dual bathroom vanities, and a grand walk-in closet, this suite is designed for relaxation and rejuvenation. Picture yourself enjoying breathtaking views of playful manatees and dolphins from the comfort of your extraordinary owner's suite. Additional bedrooms, each with ensuite baths, ensure that every guest feels at home, with a second laundry room conveniently located on this level for added ease. Ascending to the rooftop, you will discover an open-air living space that redefines outdoor entertaining. This large rooftop deck invites you to savor morning coffee under the sun, enjoy sunset cocktails with friends, or indulge in stargazing on a clear night. It’s the ultimate backdrop for unforgettable moments, whether you're hosting a gathering or simply soaking in the serene surroundings. From sunlit gathering spaces to tranquil private retreats, Lido Dreams strikes the perfect balance between togetherness and solitude. Set in an unbeatable location just steps away from shopping, dining, and the pristine beach, this property embodies the essence of luxury living on Lido Key. Currently operating as a successful short-term rental with impressive bookings, Lido Dreams offers not just a home but an opportunity for a thriving investment. Financials are available upon request, making this an enticing prospect for discerning buyers. Don’t miss your chance to own this exceptional piece of paradise! *not pictured: boat dock & deck and outdoor kitchen & shower to be included in asking price.

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551 S WASHINGTON DRIVE Facts & Features

  • Type Single Family
  • Sq. ft. 5,493
  • Price/Sq.ft. $1,729
  • Lot 0.23 Acres

Details

General

Association/HOA

  • Association: No

Building Information

  • New Construction: Yes
  • Year Built: 2024

Location/Region

  • Country: US
  • County Or Parish: Sarasota
  • MLS Area Major: 34236 - Sarasota
  • Subdivision Name: SAINT ARMANDS DIV JOHN RINGLING ESTATES
  • Township: 36S

Tax Information

  • Tax Annual Amount: 31311.51
  • Tax Year: 2024

General Information

  • Ownership: Fee Simple
  • Parcel Number: 2014130022
  • Property Condition: Completed
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • Senior Community: No
  • Special Listing Conditions: None
  • Zoning: RSF2

Interior

Parking Information

  • Garage Spaces: 5
  • Garage: Yes

Beds/Baths

  • Bathrooms Full: 9
  • Bathrooms Half: 0
  • Bathrooms Total: 9
  • Bedrooms Total: 9

Building Interior

  • Building Area Source: Public Records
  • Building Area Total: 6400
  • Building Area Units: Square Feet

General Information

  • Appliances: Built-In Oven,Dishwasher,Disposal,Dryer,Electric Water Heater,Freezer,Ice Maker,Microwave,Range Hood,Refrigerator,Washer
  • Cooling: Central Air
  • Fireplace: No
  • Flooring: Hardwood
  • Foundation Details: Block
  • Heating: Central
  • Interior Features: Built-in Features,Ceiling Fans(s),Eat-in Kitchen,Elevator,High Ceilings,Kitchen/Family Room Combo,L Dining,Living Room/Dining Room Combo,Open Floorplan,PrimaryBedroom Upstairs,Walk-In Closet(s)
  • Laundry Features: Inside,Laundry Room
  • Levels: Three Or More
  • Living Area: 5493
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Other Equipment: Irrigation Equipment

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Acres: 0.23
  • Lot Size Square Feet: 9884
  • Road Surface Type: Concrete
  • Water Source: Public

Waterfront/View

  • Waterfront Features: Canal - Saltwater,Canal Front
  • Waterfront: Yes

Building Exterior/Construction

  • Attached Garage: Yes
  • Construction Materials: Block
  • Direction Faces: East
  • Roof: Metal

General Information

  • Carport: No
  • Exterior Features: Balcony,Lighting,Rain Gutters,Sliding Doors
  • Pool Features: Heated,In Ground,Lighting
  • Pool Private: Yes
  • Sewer: Public Sewer
  • Utilities: Public

Room Information

Room: Dining Room

  • Level: Second

Room: Kitchen

  • Level: Second

Room: Living Room

  • Level: Second

Room: Primary Bathroom

  • Level: Third

Room: Primary Bedroom

  • Level: Third

551 S WASHINGTON DRIVE Neighborhood

Community

34236 (SARASOTA) Demographics

67
Median Age
1,633
Population Density (per sq. mile)
64%
College Educated
$80,761
Estimated Median Income
4,713
Estimated Total Home Owners
2,939
Estimated Total Renters
62% / 38%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data unavailable, School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

551 S WASHINGTON DRIVE Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

551 S WASHINGTON DRIVE Market Data

Based on the last 30 days in this zip code

$3,322,032
Average List Price
$1,279
Average Price per Square Foot
52
Properties Sold
266
Average Days on Market
584
Properties for Sale
Calculations provided by Reliance Network

551 S WASHINGTON DRIVE History

Date Event Value Agent
10/15/2025Source: My Florida Regional MLS Added to Database
October 15, 2025
2/22/2024Source: My Florida Regional MLS Status Change
Sold
2/14/2024Source: My Florida Regional MLS Added to Database
February 14, 2024
10/14/2022Source: My Florida Regional MLS Added to Database
October 14, 2022