Under contract-accepting backup offers. Look no further, as this charming bungalow awaits its new owner! Perfect home to live the Florida lifestyle while unlocking the potential of this exceptional offering - an expansive lot spanning nearly 12,000 square feet in the coveted West of Trail area, with the added benefit of city-approved subdivision into two 5,000+ square foot lots. Positioned for maximum flexibility, this property presents a rare chance to craft a singular luxury coastal estate or capitalize on potential investment returns by developing two speculative homes for resale or rental income. Benefit from this central location approximately 1 block from the Siesta Key North Bridge, with easy access to one of the top beaches in the world. A quick walk to Sarasota Memorial Hospital and Southside Village's gourmet market, shopping and dining. And, a few minutes by car to the best Sarasota downtown dining, shopping and sunsets! This lot has an existing home with a heated pool and spa, making it an excellent rental opportunity while you develop your plans for its next chapter. Don't miss this rare chance in one of Sarasota's best-located neighborhoods around! Click the virtual tour for more photos.