$1,685,000
5500 Merrimac Drive
Sarasota, FL 34231
Listing updated: April 22, 2026 at 3:52 PM ET
Listing courtesy of Coldwell Banker Realty · Steve Abbe · MLS #A4684914 · Active · 941-383-6411Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Garage spaces
Flood zone
About this home
Live the Ultimate Florida Lifestyle in This Waterfront Paradise! Nestled in the heart of Phillippi Gardens, this extraordinary property offers the perfect blend of tranquility, luxury, and convenience. Set on an OVERSIZED .61-ACRE LOT WITH OVER 400 FEET OF PRIVATE WATER FRONTAGE. Along two serene waterways just off Phillippi Creek, this home is a true tropical oasis—peaceful and secluded, yet minutes from everything Sarasota has to offer. Inside, the residence showcases a flexible layout with FOUR SPACIOUS BEDROOMS, some easily adaptable for office, studio, or guest use, and FOUR FULL BATHROOMS making it ideal for hosting loved ones and guests. The interior has been thoughtfully updated from 2017 through 2024 blending modern comfort with timeless charm. Interior Highlights Include: An expansive great room with a DUAL-SIDED WOOD-BURNING FIREPLACE, a gourmet kitchen featuring stainless steel appliances, farmhouse sink and pot filler. Three bedrooms on the main level, including one en-suite, and a second-floor master suite with a PRIVATE BALCONY OFFERING BREATHTAKING SUNRISE AND SUNSET VIEWS. Step outside and feel like you're on vacation every day. The lush, tropical grounds are packed with resort-style amenities: Tiki hut with a full bar and grill, two fire pits, five-zone low-voltage night lighting creating a magical evening ambiance, heated pool and spa, boat lift, a new boathouse (2019) and new seawall (2023/2024). Additional Upgrades: Two new A/C units (2019), septic-to-sewer conversion (2018). Tucked away at the end of a quiet cul-de-sac, this home offers privacy without sacrificing accessibility. You're just a short bike ride to the Gulf beaches, near The Landings for shopping and dining, and minutes from downtown Sarasota’s vibrant arts and culture scene.
Local Insight
At $604/sqft for a 1974 waterfront home in Phillippi Gardens, you're paying a premium for direct water access and the private pool, but that 50-year-old structure will likely need significant updates—factor in potential foundation, roof, and system replacements before comparing this to newer construction. The AE flood zone designation is worth taking seriously; verify flood insurance costs and elevation requirements, as waterfront properties here have seen dramatic insurance hikes in recent years. Location-wise, you're getting established neighborhood character and schools that serve the area well, though the lack of HOA means no community amenities or deed restrictions to lean on.
AI-generated insight based on listing data and neighborhood context. Verify independently.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history49 days on market
- Status: ActiveMar 4, 2026
- Listed$1,770,000Mar 4, 2026
- Price reduced$1,685,000
Facts & features
- Property type
- Residential
- Sub type
- Single Family Residence
- Status
- Active
- Days on market
- 49
- Subdivision
- Phillippi Gardens 08
- County
- Sarasota
- Year built
- 1974
- Living area
- 2,790 sq ft
- Price/sq ft
- $604
- Building area
- 4,133 sq ft (Public Records)
- Lot size
- 26,520 sq ft
- Lot category
- 1/2 to less than 1
- Flood zone
- AE/x (12115C0144G)
- Garage
- 2 spaces
- Pool
- Private pool
- Annual taxes
- $6,537 (2025)
- Parcel #
- 0086060021
- Zoning
- RSF2
- MLS #
- A4684914
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Interior Details
- Bedrooms
- 4
- Full bathrooms
- 4
- Flooring
- Carpet, Vinyl
- Appliances
- Dishwasher, Microwave, Range, Refrigerator
- Interior features
- Ceiling Fans(s)
- Laundry
- Inside
- Stories / Levels
- Two
- Direction faces
- Southwest
- Fireplace
- Yes
Heating & Cooling
- Heating
- Central, Electric
- Cooling
- Central Air, Zoned
Parking
- Garage spaces
- 2
- Attached garage
- Yes
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- CDD
- No
- Homestead exemption
- Yes
- Min lease term
- 1 Month
- Listing terms
- Cash, Conventional
- Ownership
- Fee Simple
- Available for lease
- Yes
- Lease restrictions
- No
Exterior & Construction
- Exterior features
- Balcony, Outdoor Kitchen, Sliding Doors
- Construction materials
- Stucco
- Roof
- Shingle
- Foundation
- Slab
- Pool
- Private pool
- Waterfront
- Yes
- Water access
- Yes
- Water view
- Yes
- Road surface
- Paved
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Cable Connected, Electricity Connected
Community
- Pets allowed
- Yes
Schools
Letter grades: Florida DOE 2024–25 school grades (Orange, Seminole, Lake, Osceola, Brevard). Assigned schools from the listing agent — verify enrollment with the district.
Room Details
| Room | Level | Dimensions |
|---|---|---|
| Great Room | First | 23.1x28.6 |
| Bedroom 2 | First | 16.5x11.9 |
| Bedroom 3 | First | 16.6x12 |
| Bedroom 4 | First | 16.11x12.3 |
| Laundry | First | 9x8.11 |
| Primary Bedroom | Second | 14.8x15.1 |
| Balcony/Porch/Lanai | First | 30.9x24 |
| Kitchen | First | 11.5x13.9 |
Listing Details
- Listing date
- 2026-03-04
- On market date
- 2026-03-04
- Original list price
- $1,770,000
- Occupant type
- Owner
- MLS area
- 34231 - Sarasota/Gulf Gate Branch
- Listing AOR
- Sarasota - Manatee
- Status changed
- 2026-03-04
- Tax legal description
- LOT 162 PHILLIPPI GARDENS UNIT 8 OR 1006-864
Flood risk
FEMA Special Flood Hazard Area (1% annual-chance / “100-year” floodplain). Flood insurance is generally required by mortgage lenders.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
Rte. 41/Tamiami Trail to Constitution Blvd. East on Constitution. Left on Merrimac to address.
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of April 22, 2026 at 3:52 PM ET. 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.
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