Different 'beach' lends a different view
225 Indian Road has 250 feet of water frontage, including dockage for a boat and a stretch of sandy beach; a pool and a Har-Tru tennis court.
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When some people want South Florida waterfront, they're talking seawalls or docks. Others mean oceanfront, with homes on the Atlantic.
Steve Davis just listed a home with a blend of the two. The residence, at 225 Indian Road in Palm Beach's Sea Isle Estates section, is on the waters of Palm Beach Inlet. Its 250 feet of water frontage includes dockage for a boat and a stretch of sandy beach, said Davis, senior broker associate with Corcoran Group Palm Beach. The asking price: $11.95 million.
The home is tinged with history. Built in 1937 with a grand design and a four-column portico, it was completely renovated in 2002. With 7,643 square feet of total space and 5,364 square feet of living area, it has five bedrooms, 7.5 bathrooms.
The exterior has a pool near the water's edge and a Har-Tru tennis court. Beyond the property line of the 37,500-square-foot lot are views of Sailfish Marina and Peanut Island, a popular spot for weekend boaters. Yachts and cruise ships are frequent passersby, Davis said.
Though a new listing, the home had been rented for some time. The owners, listed in county records as William and Alicia Blodgett, purchased the home in June 2002 for $5.5 million and soon undertook the renovation. They now live in Sea Island, Ga. They originally lived on the ocean in Palm Beach County, Davis said, but moved to Indian Road "because of all the activity of Palm Beach inlet."
The home on this stretch of Indian Road represents the farthest north home on the inlet, he said. The area has a blend of new construction and older homes, said Davis, who recently sold a non-waterfront, 110-by-130-foot lot nearby for $1.375 million.
Davis, a former Atlanta construction litigation attorney and onetime health care CEO, started in real estate in 2002. He has another listing on Palm Beach Island - 206 Dunbar Road, a Mediterranean-design home completely renovated in 2003 and listed at $6.249 million. Veteran real estate broker Jim McCann has homes priced up to $74 million in the area.
For some buyers, lots and older homes are all that's left - whether in Palm Beach or near the water in West Palm Beach.
"We have a shortage of spec houses. The market really has accelerated in Palm Beach," he said. "Most of the nice homes on the Intracoastal side of West Palm Beach are gone."