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501 Bay Lane, Key Biscayne FL 33149

House For Sale
$5,990,000

BTC: 74.87500000

ETH: 2,495.83333333

New
5 bds
4 ba
4,759 sqft

Overview

Prime location on one of Key Biscayne’s most exclusive residential streets, surrounded by some of the island’s most prestigious waterfront estates. An exceptional opportunity to own a substantial residence in the heart of Miami’s island paradise. Situated on a generous 10,000 SF lot, this light-filled home offers 4,759 SF of living space, five bedrooms, four full bathrooms and one half bathroom, providing wonderful space, privacy, and flexibility for today’s lifestyle. High ceilings and abundant natural light enhance the home’s generous proportions, while well-defined living, dining, and family areas create a comfortable and functional floor plan for both everyday living and entertaining. The interior spaces open to an expansive covered terrace, creating a natural connection to the outdoors and allowing for year-round enjoyment of South Florida living. Surrounded by lush, mature landscaping, the private backyard features a beautiful swimming pool and generous areas for outdoor dining, entertaining, and spending time with family and friends. Built in 1995 and complete with a garage, the residence can be enjoyed as it is today while offering endless possibilities to personalize and enhance over time. A rare opportunity to make this home your own while enjoying an exceptional address, privacy, and the extraordinary lifestyle that make Key Biscayne one of South Florida’s most desirable places to call home

Location

Details

Type:
Residential
Parking:
Circular Driveway / Covered / Driveway
Year Built:
1995
Lot:
10000 Square Feet
Heating:
Electric
Price/sqft:
$1,259
Cooling:
Electric
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$5,692,500
$3.8M – $8.0M
Confidence Low
List vs. estimate
$297K above estimate
List $5,990,000 · +5.2%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$1,258
-34.6% vs. city median $1,925
Based on
6 MLS comparables
+ 23 public-records sales within 0.5 mi
Median actual sale: $3.7M
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$24,587
2025
Pool
In Ground
View
Garden
Garage
2 car garage
All facts and features
  • Flooring

    • Ceramic Floor

    • Tile

    Heating

    • Electric

    Cooling

    • Electric

    Appliances

    • Dishwasher

    • Dryer

    • Electric Range

    • Electric Water Heater

    • Microwave

    • Refrigerator

    • Wall Oven

    • Washer

    Other interior features

    • First Floor Entry

    • Built-in Features

    • Walk-In Closet(s)

    • Den/Library/Office

    • Family Room

    Bedrooms and bathrooms

    • Bedrooms: 5

    • Bathrooms: 1

    • Full bathrooms: 4

  • Parking

    • Circular Driveway

    • Covered

    • Driveway

    Lot

    • Lot: 10000 Square Feet

    Other Property Information

    • Parcel Number: 24-42-32-005-0730

    • Zoning: 2000

  • Type and style

    • Property Type: Residential

    • Property Sub Type: Single Family Residence

  • Other financial information

    • Annual tax amount: $24,587

  • Source details

    • MLS ID: A12074814

    Other facts

    • Construction Materials: CBS Construction

    • Lot Features: Less Than 1/4 Acre Lot

    • Patio And Porch Features: Open Porch / Patio

    • Pool Features: In Ground

    • Window Features: Complete Accordian Shutters / Blinds / Drapes

    • Direction Faces: North

    • Architectural Style: Attached / Two Story

    • Garage Spaces: 2

    • Garage: Yes

    • Living Area: 4759

    • Water Source: Municipal Water

    • Subdivision Name: TROPICAL ISLE HOMES SUB 3

Private inquiry
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The multiple listing information is provided by the Miami Association of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Miami Association of REALTORS®. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: One Sotheby's International Realty