Listing Details for MLS #TB8505742 - 5207 Bay State Road, Palmetto, Fl 34221

Residential Property - Single Family Residence in Palmetto

Listing Price: $2,000,000Days on Market: 19

Description of Property

Welcome to your fully reimagined open-water retreat in Palmetto, where modern upgrades, effortless coastal living, and long-term peace of mind come together in one exceptional property. Boasting 100 feet of waterfront with unobstructed open water views, this residence offers a rare advantage—no bridges to the Gulf, allowing for seamless boating access and the true Florida lifestyle right from your backyard. Just minutes away, explore Egmont Key’s crystal-clear emerald waters and powder-soft sand beaches, one of the Gulf Coast’s most coveted destinations. Designed for both comfort, ADA accessibility and functionality, this home features true one-floor living, providing ease and accessibility ideal for full-time residents or seasonal owners. Extensively updated in 2025, the property delivers a fully turnkey experience with new tile flooring throughout, fresh interior and exterior paint, and beautifully updated bathrooms. The thoughtfully designed layout offers a perfect balance of open living and private retreat spaces, while the kitchen is equipped with new appliances, including a dishwasher and refrigerator, blending modern convenience with everyday usability. Step outside into your private waterfront oasis. The backyard is designed for both relaxation and entertaining, featuring a resurfaced pool (2025), brand-new pool cage and screens, and a custom pergola—perfect for enjoying warm Florida evenings. Lush new landscaping (2025) and a circular driveway enhance both curb appeal and functionality. For boating enthusiasts, this property is exceptionally well-equipped with a repaired dock (2025) and two private boat lifts: 9,000 lb lift and 16,000 lb lift. Offering flexibility for multiple vessels and immediate access to the open Gulf. A new retaining wall (2025) provides added durability and long-term shoreline protection, ensuring peace of mind for years to come. This home also stands out for its efficiency and resilience, featuring: Solar panels with minimal electric bills (paid off at closing), Whole-house generator for uninterrupted power, Buried propane tank for reliability and clean aesthetics and Solar water heater. With a brand-new roof (2025) and a history of no flood damage from previous storms, this property offers a level of security and preparedness that is increasingly sought after in today’s market. Ideally located near Tampa, St. Petersburg, and the Gulf beaches, this home presents a rare opportunity for full-time residents, second-home buyers, or those relocating from out of state seeking a move-in ready waterfront lifestyle with direct Gulf access and uncompromised upgrades. This is more than a home, it’s a fully upgraded, open-water coastal investment designed for effortless Florida living.The average asking price for a 3 bedroom/3 bath single family residence in this Zip code is $907,728. This single family residence is listed at about 220% of the average asking price. This is the only 3 bedroom/3 bath single family residence between $1,800,000 and $2,200,000 currently listed for sale in this Zip code.