The last beachfront lot available on Marco Island became the all-time highest-priced lot sale on Hideaway Beach. A .45-acre vacant lot at 992 Royal Marco Way overlooking the Gulf of Mexico sold May 2 for $6 million.
Cathy Rodgers of Premier Sotheby’s International Realty’s Marco Island office represented the seller, and Rebecca Sinatra, also of Premier Sotheby’s International Realty, represented the buyer.
Supply and demand drove up the price, Rodgers said, as the property was the last lot available on the beach at the time of the sale. “Hideaway Beach is the only place you can have a house on the beach,” she said.
Prior to the Royal Marco Way sale, the last highest lot sale on Hideaway Beach was for $5.5 million.
The seller, who wasn’t identified by Rodgers, bought the property in 1988 for $450,000 and has been waiting to sell for the right price, she said. It was on and off the market over the years and was listed for about 9 months before it sold.
Not only has Rodgers brokered the highest-priced lot in Hideaway Beach, but she also sold the highest priced home in Hideaway Beach for nearly $12 million on March 22.