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$12M Casey Key Beachfront Estate Sold In Record-Breaking Sale

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SOLD
$12,000,000

Florida

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Single Family6,900 SF
Sold 08/31/2023
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Property Image
SOLD

$12M Casey Key Beachfront Estate Sold In Record-Breaking Sale

1312 Casey Key Rd Nokomis, FL 34275, USA

See Similar Deals
Single Family6,900 SF
Sold 08/31/2023
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Summary

FLORIDA
Asset Type:Single Family
Price Per Square Foot:$1,739
Total Square Footage:6,900 SF
Transaction Type:Sale

The Tweenwater Estate, a waterfront property located at 1312 Casey Key Road, Nokomis, was recently sold for $12,000,000. Spanning over 6,900 square feet, this single-family residence sits on a spacious 0.94-acre lot. The sale price equates to approximately $1,739 per square foot, reflecting the high demand for luxury homes in Sarasota County.

Summary of transaction details

  • Property Type: Single-Family Residence
  • Transaction Amount: $12,000,000
  • Address: 1312 Casey Key Road, Nokomis
  • Market: Nokomis
  • Asset Type: SFR
  • Acres: 0.94

The transaction was facilitated by Lisa Napolitano and Valerie Dall’Acqua from Premier Sotheby’s International Realty, representing the seller. Brian Corcoran from The BRC Group acted as the buyer's representative in the deal.

This sale on Casey Key demonstrates the strong demand for luxury homes in the area. The property's waterfront location, bespoke features, private beach access, and coastal ambiance played a significant role in attracting buyers. Notably, this sale represents the highest transaction on Casey Key in the past two years, emphasizing the desirability of this exclusive neighborhood.

Players

Lisa Napolitano
2 deals$18.5M volume
BROKER

Valerie Dall'Acqua
Sotheby's International Realty
2 deals$18.5M volume
BROKER

Brian Corcoran
1 deal$12M volume(941) 626-3439
BROKER

Details

SOLD
IMAGE: Valerie Dall’Acqua, Brian Corcoran & Lisa Napolitano DATE: 08/31/2023 ADDRESS: 1312 Casey Key Road MARKET: Nokomis ASSET TYPE: SFR ~ ACRES: 0.94 BUYER'S REP: Brian Corcoran - The BRC Group SELLER'S REP: Lisa Napolitano (@CK.LisaNapolitano) & Valerie Dall’Acqua - Premier Sotheby’s International Realty (@PremierSIR) SALE PRICE: $12,000,000 SF: 6,900 ~ PPSF: $1,739 NOTE: Casey Key's highest sale in two years: The Tweenwater Estate, a waterfront property with 6,900 sq. ft. on a 0.94-acre lot, sold for $12 million. Despite low inventory, Sarasota County's second-highest residential sale of the year reflects strong demand for luxury homes, driven by its private beach, bespoke features, and coastal ambiance.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47