Video tour
#A4632544, Joel Schemmel, Listing Office: PREMIER SOTHEBYS INTL REALTY
$15,500,000 List price
5581 Gulf Of Mexico Dr Longboat Key, FL 34228
11 beds
9 full, 2 partial
8,529 sqft
2.0 acres
$1,817 / sqft
House
Property details
About 5581 Gulf Of Mexico Dr
Sought after slice of beachfront paradise on the exclusive island of Longboat Key. Rarely available 2 acre property with 200 feet of beach frontage on the Gulf of America. Currently it hosts a quaint inn featuring ten suites and one cottage, all had been renovated with timeless old Florida decor. The property is surrounded by tropical blooms , lush foliage, vine covered arbors, swaying palm trees, a private gazebo, and a heated swimming pool. Amazing opportunity for a new development, or alternatively a chance to easily bring the property back to its recent glory. The property has been approved to build two single family homes or a six unit luxury Condominium. This fantastic location is near the growing number of top restaurants and attractions . Walk to Harry's Euphemia Haye, Lazy Lobster, new local favorite Lo' Key or stroll over to the bay at Durante Park. All this is just a short drive to the renowned shopping, dining and cultural attractions of St Armands Circle, as wells Downtown Sarasota and Anna Maria Island. So many possibilities for this location, location , location !
Highlights
Home typeSingle Family Residence
HeatingCentral
StatusActive
CoolingCentral Air
Size8,529 sqft
Lot size2.02 Acres
Year built1952
MLS #A4641831
WaterfrontBeach
Private poolYes
Summary
- MLS Number: A4641831
- MLS Name: MFRMLS
- Office Name: DEVELOPERS REALTY LBK, INC
- Listing Agent: Reid Murphy
Listings courtesy of Stellar MLS as distributed by MLS GRID.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.
Copyright 2025 My Florida Regional Multiple Listing Service DBA Stellar MLS. The real estate listing data marked with this icon comes from the IDX program of the Stellar MLS system. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified. Listing information is provided exclusively for consumers’ personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Properties displayed may be listed or sold by various participants in the MLS.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/3/2025, 10:49:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$15,500,000
5581 Gulf Of Mexico Dr
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Jun 24, 2010 | Home Sold | $4,200,000 |
| Dec 30, 2009 | Home Sold | $3,490,428 |
| Dec 30, 2009 | Home Sold | $3,490,428 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $5,184,212 | $81,745 |
| 2022 | $5,210,668 | $83,217 |
| 2021 | $5,215,284 | $83,217 |
| 2020 | $4,470,471 | $71,698 |
| 2018 | $4,233,040 | $68,666 |
| 2017 | $4,243,863 | $68,666 |
History based on county public records data.
Nearby schools
4
Sea Breeze Elementary School
Public District PK-5
4.3 mi
•3601 71st St W
4
Bayshore Elementary School
Public District PK-5
4.5 mi
•6120 26th St W
3
H. S. Moody Elementary School
Public District PK-5
4.5 mi
•5425 38th Ave W
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $107,407. Residents of Longboat Key, FL typically earn between $100k-200k each year. The majority of families are married, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
16%
<35k
31%
35k-100k
35%
100k-200k
18%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
40%
Single, No Kids
2%
Single, with Kids
55%
Married, No Kids
3%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
3%
<11 yrs old
2%
12-17 yrs old
3%
18-34 yrs old
33%
35-64 yrs old
59%
65+ yrs old
What do the neighbors do for fun?
PGA/LPGA
Men's Tennis
Skiing/snowboarding
Where do the neighbors shop?
Stein Mart
Bloomingdales
BJs Wholesale Club
Where do the neighbors go to eat?
Bob Evans
Bonefish Grill
Panera
What do the neighbors drive?
Lincoln
Lexus
Infiniti
What do the neighbors listen to?
News/Talk/Information- News
Adult Hits
All data provided by Home Junction and Claritas
Similar homes for sale
Frequently asked questions
About 5581 Gulf Of Mexico Dr
This home is located at 5581 Gulf Of Mexico Dr in Longboat Key, FL and zip code 34228. This 8,529 square foot home, which was built in 1952, sits on a 2.02 acre lot. Features: 11 bedrooms, 11 bathrooms. It has been listed on Rocket Homes since February 24, 2025 and is currently priced at $15,500,000.
Longboat Key, FL housing market in February 2025 saw over 1 listings sold above listed price, more than 1 sold at listed price and over 24 sold below. The number of homes for sale in Longboat Key, FL increased by 16.9% between January and February 2025. The median list price of listings available in February 2025 was $1,260,000, while the average time on the real estate market was 37 days.
From Rocket Homes Real Estate and based on county public records data.