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$9,495,000
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Property Description
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.
Full Property Details
Full Property Details for 551 S Washington Dr
General
- Price: $9,495,000
- Taxes: $31,311 (2024)
- Status: Active
- Type: Single Family
- Source: MidFloridaRegionalMLS
- MLS ID: A4668634
- Updated: 10/16/2025
- Added to Site: 94 day(s) ago
Rental Information
- Min. Lease: 1 Week
Interior
- Number of Rooms: 5
- Interior Features: Built-in Features, Ceiling Fan(s), Eating Space In Kitchen, Elevator, High Ceilings, Kitchen and Family Room Combination, L Dining, Living Room/Dining Room Combo, Open Floorplan, PrimaryBedroom Upstairs, Walk-In Closet(s)
- Appliances: Built-In Oven, Dishwasher, Disposal, Dryer, Electric Water Heater, Freezer, Ice Maker, Microwave, Range Hood, Refrigerator, Washer
- Flooring: Engineered Hardwood
Rooms
Bathrooms
- Total Bathrooms: 9
- Full Bathrooms: 9
Bedrooms
- Total Bedrooms: 9
Other Rooms
- Laundry: Inside, Laundry Room
Additional Information
- Pool: Yes
- Private Pool: Yes
- Pool Description: Heated, In Ground, Lighting
Exterior
- Exterior Features: Balcony, Irrigation System, Lighting, Rain Gutters, Sliding Doors
Parking
- Garage: Yes
- Attached garage: Yes
- Garage Spaces: 5
- Covered Spaces: 5
Location
- Area: 34236 - Sarasota
- County: Sarasota
- Development Name: 34236 - Sarasota
- Subdivision: SAINT ARMANDS DIV JOHN RINGLING ESTATES
- Driving Directions: Tamiami N, Merge onto Gulfstream Ave, At St Armand, 2nd exit, Left on Washington Dr.
- Direction Faces: East
Community
- Community Name: 34236 - Sarasota
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Public
Structural Information
- Exterior Const.: Block
- Roof: Metal
- Stories/Levels: Three Or More
- Square Feet: 5,493
- Sq. Ft. Source: Public Records
- Year Built: 2024
Lot Features
- Lot Size (Acres): 0.23
- Lot Size (Sq. Ft.): 9,884
- Lot Size: 9884
- Street/Road Desc.: Concrete
Water Features
- Water Front: Yes
- Water Front Desc.: Saltwater Canal, Canal Front
Financial Considerations
- Tax Amount: $31,311.51
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: LOT 27 & SELY 5 FT OF LOT 28 BLK 10 ST ARMANDS DIV
- Flood Zone Info: AE
- APN: 2014130022
- Property ID: 2014130022
- Block/Lot/Section: 10
Listed by Compass Florida Llc
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Schools
Schools serving 551 S Washington Dr
School District:Sarasota County School District
| Name | Grades | Distance |
|---|---|---|
Southside Elementary School, Sarasota, FL 1901 Webber Street, Sarasota, FL 34239 | PK-5 | 2.9 mi |
Booker Middle School 2250 Myrtle Street, Sarasota, FL 34234 | 6-8 | 4.8 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 551 S Washington Dr
Date
Details
Price
Change
Source
10/15/2025
Listed
$9,495,000
31.87%
MLS
1/18/2024
Sold
$7,200,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 551 S Washington Dr
Year
Property Taxes
Change
Tax Assessment
Change
2024
$31,312
11%
$2,145,400
12%
2023
$28,329
3%
$1,909,800
4%
2022
$27,577
348%
$1,828,500
338%
2021
$6,155
—
$417,156
1%
2021
$6,155
2%
$411,396
2%
2019
$6,055
2%
$402,147
2%
2018
$5,953
1%
$394,649
2%
2017
$5,881
1%
$386,532
2%
2016
$5,846
-1%
$378,582
1%
2015
$5,932
—
$375,950
1%
2014
$5,923
3%
$372,966
5%
2013
$5,735
—
$356,838
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 551 S Washington Dr
551 S Washington Drive, Sarasota, FL 34236 (MLS# A4668634) is a Single Family property with 9 bedrooms and 9 full bathrooms. 551 S Washington Drive is currently listed for $9,495,000 and was received on October 15, 2025. Want to learn more about 551 S Washington Drive? Do you have questions about finding other Single Family real estate for sale in Sarasota? You can browse all Sarasota real estate or contact a Coldwell Banker agent to request more information.

