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Lisa Grassi
Realtor® | PROPERTY MANAGER
(941) 795-2182
$800,000

707 40th Street W Palmetto, FL 34221 • Residential - Single Family • Active

  • 707 40th Street W, Palmetto, FL 34221 Main Photo

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Description

Discover a rare opportunity to own a spacious two-story coastal retreat set on a private 0.70-acre lot with beautiful water and mangrove views. Filled with Old Florida character, this property features Bahama shutters, durable HardiPlank siding, and a metal roof. With **NO HOA, CDD, or deed restrictions**, the possibilities are wide open.Currently utilized as a single-family residence and zoned **RDD4.5 (Residential Duplex)**, the property offers excellent flexibility for an investment opportunity, multi-generational living arrangement, or potential multi-family use. County water and sewer add convenience, while the location provides easy access to US-41, I-275, and I-75.Bring all your toys! The expansive property provides plenty of room for boats, vehicles, and an RV, complete with **50-amp electrical service, water, and sewer hookups**. There's also space to add a pool, and the patio areas are screened for comfortable outdoor enjoyment.A gated entrance and circular driveway provide a welcoming arrival with abundant parking. Double stairs with Trex composite decking lead to the elevated first level, where you'll find **two master suites**, each offering a private en-suite bathroom, along with a washer and dryer. A kitchenette and air-conditioned bonus room with its own rear entrance add even more versatility.The second level serves as the main living space and takes full advantage of the home's elevated position and stunning views. The open living and dining areas overlook the water and flow into the primary kitchen, featuring Corian countertops and an open bar area. Two additional bedrooms and a full bathroom complete this level. The home's distinctive inverted floor plan enhances privacy, natural airflow, and the surrounding views.Outdoor living is truly exceptional. Step onto the upper patio deck and continue up to the home's **widow's walk**, where panoramic views stretch across the water and surrounding mangroves. Enjoy spectacular sunsets over the bayou leading toward Terra Ceia Bay, with the Sunshine Skyway Bridge adding to the scenic backdrop.Recent updates include **two 2.5-ton, 15-SEER HVAC systems with heat pumps installed in 2024**. Additional features include a comprehensive security system with alarms and motion-activated cameras, spiral staircase, abundant closet and under-stair storage, room-darkening shades, built-in entertainment center with roll-out shelving, large flat-screen TV with electric lift, weather station, pantry cabinetry with roll-out drawers, and a queen-size Murphy bed in one of the upstairs bedrooms.Throughout the home, you'll find bamboo, laminate, and tile flooring-no carpet! The ground level offers a spacious bonus area with two separate entrances, ready to be transformed to suit your needs, plus a separate enclosed workshop/storage room.Despite its peaceful, private setting surrounded by wildlife-including osprey, bald eagles, hawks, herons, egrets, and owls-the location is remarkably convenient. Enjoy easy access to the Sunshine Skyway Bridge, St. Petersburg, Tampa, area airports, Palmetto, and Bradenton.This one-of-a-kind coastal property offers space, flexibility, privacy, and incredible views in a location that puts everything within reach. Come see the possibilities and make this unique Florida retreat your own!

Property Highlights

Property Type: Residential - Single Family
Cooling: Central Air
Heating: Central
Lot Size: 0.70 Acres
Roof Type: Metal
Stories: 2.0
Taxes: $7,790
Year Built: 1979

General Information

Bedrooms: 5
Bathrooms: 4 Full
Sqft: 3,435
County: Manatee
Subdivision: GULL CAY
Listed By:
Kevin Mize REDFIN CORPORATION 617-458-2883

Amenities

Ceiling Fans(s)
Thermostat
Lighting
Sidewalk

Property Features

Appliances: Dishwasher, Microwave, Range, Refrigerator
Days on Site: 15
Directions: From US-301 S, continue onto 33rd St W. Turn onto 5th Ave W, then turn right onto 40th St W. Continue to the end of the road. Property is on the right. Look for the gate and sign.
Exterior: Frame
Flood Zone Code: AE
Flooring: Luxury Vinyl
Foundation: Pillar/Post/Pier
Home Warranty Y/N: No
Listing Terms: Cash, Conventional, FHA, VA Loan
Lot Dimensions: 0.7
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Single Family Residence
Sewer: Public Sewer
Showing Instructions: Combination Lock Box
Special Sale Provisions: None
Utilities: Cable Available, Electricity Available
Water: Public
Water Access Y/N: No
Zoning: RDD4.5
$800,000
5beds
4.0baths
3,435sqft
Active
BEDS5 BATHS4 full SQUARE FEET3,435 MLS#TB8555834
STATUSActive PROPERTY TYPEResidential - Single Family SUBDIVISIONGULL CAY

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707 40th Street W, Palmetto, FL 34221.

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Estimated Payment

$ 3,580.77 per month $2,698.27 Principal & Interest $649.17 Property Tax $233.33 Homeowner's Insurance

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About this area

Florida/Palmetto
Palmetto

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About Palmetto

Palmetto is a growing suburban area located between the Manatee River and Terra Ceia Bay. The city is perfect for people looking for an active lifestyle that involves nature and community activities. Palmetto’s location keeps residents close to major employers, but also allows for a smaller town lifestyle that embraces a slower pace. Weekends are perfect for boating and golfing, or attending one of the many events and festivals that take place in Palmetto year round. The area is great for people of all ages with homes ranging from affordable condos and single family options to waterfront estates.


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About this community

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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. Information on this site was last updated 10/23/2026. The listing information on this page last changed on 10/23/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Fri 10/23/2026 1:29:25 AM EST) or Stellar MLS (last updated Fri 10/23/2026 1:24:46 AM EST). Real estate listings held by brokerage firms other than Wagner Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.

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