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551 S Washington Dr, Sarasota, FL, 34236

9beds
9baths
5,493sqft
$9,495,000
$1,729price/sqft
$60,759/moest. monthly cost
$2,430,360/yrincome needed

About This Home

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.

Getting Around

68
WalkingSomewhat Walkable
0
TransitNo Nearby Transit
76
BikeVery Bikeable

Schools

10/10
5/10
Booker Middle SchoolGrades 6-84.8 mi
3/10
Booker High SchoolGrades 9-124.0 mi

Construction

Condition

  • Property condition: Completed
  • New construction: Yes
  • Year built: 2024

Materials

  • Foundation: Block
  • Roof: Metal
  • Construction materials: Block

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Appliances

  • Appliances included: Oven,Dishwasher,Disposal,Dryer,Electric Water Heater,Freezer,Ice Maker,Microwave,Range Hood,Refrigerator,Washer
  • Laundry features: Inside,Laundry Room

Bedrooms & Bathrooms

  • Bedrooms: 9
  • Bathrooms: 9
  • Full bathrooms: 9

Dining Room

  • Level: Second

Features

  • Built-in Features,Ceiling Fan(s),Eating Space In Kitchen,Elevator,High Ceilings,Kitchen/Family Room Combo,L Dining,Living Room/Dining Room Combo,Open Floorplan,PrimaryBedroom Upstairs,Walk-In Closet(s)
  • Door features: Sliding Doors
  • Flooring: Engineered Hardwood

Heating & Cooling

  • Heating features: Central
  • Cooling features: Central Air

Interior Area

  • Total structure area: 6,400
  • Total interior livable area: 5,493 sqft

Kitchen

  • Level: Second

Living Room

  • Level: Second

Primary Bathroom

  • Level: Third

Primary Bedroom

  • Features: Walk-In Closet(s)
  • Level: Third

Property

Details

  • Parcel number: 2014130022
  • Zoning: RSF2
  • Special condition: None

Features

  • Levels: Three Or More
  • Stories: 3
  • Private pool: Yes
  • Pool features: Heated,In Ground,Lighting
  • Exterior features: Balcony,Irrigation System,Lighting,Rain Gutters
  • On waterfront: Yes
  • Waterfront features: Canal - Saltwater,Canal Front

Lot

  • Lot size: 9,884 sqft

Parking

  • Total spaces: 5
  • Parking features: Garage - Attached
  • Has garage: Yes
  • Attached garage spaces: 5
  • Covered spaces: 5

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Coastal Flooding
    Coastal FloodingVery High
  • Hurricane
    HurricaneVery High
  • Lightning
    LightningRelatively High
  • Tornado
    TornadoModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Coastal Flooding
Hurricane
Lightning
Tornado
Tsunami

FEMA Declared Disasters in Sarasota County and Florida

Coastal Storm
Flood
Hurricane
Severe Storm
Straight Line Winds
Tornado
Tropical Depression
Tropical Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $48,011$576,132
Home Insurance *$6,499$77,988
Property Taxes $5,697$68,364
Electricity $552$6,633
Total$60,759$729,108
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$2,083,165/yr
40% on housing$1,822,770/yr
45% on housing$1,620,240/yr

Florida FAIR Plan Programs

Citizens Property Insurance Corporation [Florida]

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 1,321,953Commercial: 13,564
Total Premiums$4.60B
Total Exposure$385.82B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 15.0%
15.0%
0%30.0%
Electricity Growth Rate10-year average: 2.2%
2.2%
0%15.0%
Property Taxes Growth Rate2-year average: 6.6%
6.6%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$1,729This listing

vs Other Active Listings

Avg $/sqft

ZIP 34236$1,040
Sarasota County$345

vs Homes Sold Last Month

Median $/sqft

ZIP 34236$896
Sarasota County$245

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2025-10-15Listed for sale$9,495,000
2025-06-11Listing removed$10,495,000
2025-01-23Listed for sale$10,495,000
2024-02-19Sold$7,200,000
2022-01-31Pending sale$1,950,000
2022-01-28Listed for sale$1,950,000

New Construction

AgentTina Ellis
BrokerageCOMPASS FLORIDA LLC

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