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$1,150,000

  • Sold
  • Closed
  • Single Family
  • 4 Beds
  • 3 Full Baths
  • 1 Partial Bath
  • 2,722 Sq. Ft.
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Pristine mid-century home built by famous American race car driver, Jim Rathmann. After winning what was voted the greatest Indy 500 of all time, Rathman used his winnings to build this spectacular estate, hence the street address 500 Palmetto. The home sits on an expansive .45 acre, corner lot located a block away from Orlando Park in coveted SOFA district of Indialantic. Tastefully and thoughtfully updated with sparkling Terrazzo flooring and custom walnut cabinetry and doors throughout. Gourmet kitchen with double-thick quartz counters, Thermador appliances including a gas cooktop and double ovens. Spacious den/office overlooks pool and includes a walnut built-in with TV. Expansive outdoor space with fully remodeled, oversized saltwater pool and cabana bath. Newly constructed concrete block shed/workshop has potential for detached office with power sufficient for mini-split A/C. Infrastructure upgrades include new plumbing (PVC drains), hurricane impact rated windows and doors whole home generator hook-up, new HVAC ducts (2015) and a tankless water heater. Experience island life at its finest with stunning river-view sunsets at the nearby park and enjoy a short, scenic walk to the beach. Schedule your showing today to view this truly one-of-a-kind home.

Full Property Details for 500 Palmetto Pl

General

  • Sold For: $1,150,000
  • Taxes: $7,268 (2023)
  • Status: Closed
  • Type: Single Family
  • Source: BrevardCounty
  • MLS ID: 1016128
  • Added to Site: 624 day(s) ago

Interior

  • Interior Features: Breakfast Bar, Eat-in Kitchen, Walk-In Closet(s)
  • Appliances: Dishwasher, Double Oven, Dryer, Gas Range, Ice Maker, Washer
  • Furnishings: Unfurnished
  • Flooring: Terrazzo

Rooms

Bathrooms

  • Total Bathrooms: 4
  • Full Bathrooms: 3
  • Half Bathrooms: 1

Bedrooms

  • Total Bedrooms: 4

Additional Information

  • Pool: Yes
  • Pool Description: In Ground

Exterior

  • Exterior Features: Impact Windows

Parking

  • Garage: Yes
  • Garage Spaces: 2
  • Carport Spaces: 2
  • Parking Features: Attached Carport, Circular Driveway, Garage

Location

  • Area: 384-Indialantic/Melbourne Beach
  • County: Brevard
  • Subdivision: Indialantic By The Sea
  • Driving Directions: From 5th Ave, South on A1A, Right on Orlando, Left on Magnolia, house will be on the right corner of Palmetto and Magnolia
  • Direction Faces: South

School Information

  • Elementary School: Indialantic
  • Middle School: Hoover
  • High School: Melbourne

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Central Air
  • Heating Type: Electric

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Electricity Connected, Sewer Connected, Water Connected, Propane

Structural Information

  • Architectural Style: Mid Century Modern
  • Exterior Const.: Block, Concrete
  • Roof: Shingle
  • Stories/Levels: 1
  • Square Feet: 2,722
  • Living Area: 2,722 Sq. Ft.
  • Current Bldg. Use: Residential
  • Year Built: 1961

Additional Structures

  • Other Structures: Workshop

Lot Features

  • Lot Size (Acres): 0.43
  • Lot Size (Sq. Ft.): 18,731
  • Frontage: City Street
  • Street/Road Desc.: Asphalt
  • Lot Features: Corner Lot
  • Fencing (Description): Back Yard

Financial Considerations

  • Price Per Sq. Ft.: $439.02
  • Tax Amount: $7,268.41
  • Tax Year: 2023
  • Terms: Cash, Conventional, VA Loan

Disclosures and Reports

  • Special Conditions: Standard
  • Legal Description: INDIALANTIC BY THE SEA SLY 110.15 FT OF LOT 13 BLK 69
  • Property ID: 28-38-06-Es-00069.0-0013.01

Listed by Island Pineapple Realty, LLC
Sold by Tropical Realty & Inv. of Brev

Listing agent

— 500 Palmetto Pl —

  • Island Pineapple Realty, LLC

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 500 Palmetto Pl

School District:Brevard County School District
NameGradesDistance
Indialantic Elementary School
1050 Palm Avenue North, Indialantic, FL 32903
K-61.4 mi
Herbert C. Hoover Middle School
2000 Hawk Haven Drive, Indialantic, FL 32903
7-81.5 mi
Melbourne Senior High School
74 Bulldog Boulevard, Melbourne, FL 32901
9-123 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 500 Palmetto Pl

Date
Details
Price
Change
Source
8/26/2024
Sold
$1,150,000
-3.77%
MLS
6/22/2024
Listed
$1,195,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by Island Pineapple Realty, LLC
Sold by Tropical Realty & Inv. of Brev

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500 Palmetto Place, Indialantic, FL 32903 (MLS# 1016128) is a Single Family property that was sold at $1,150,000 on August 26, 2024. Want to learn more about 500 Palmetto Place? Do you have questions about finding other Single Family real estate for sale in Indialantic? You can browse all Indialantic real estate or contact a Coldwell Banker agent to request more information.