Mar y Sol Properties

500 Palmetto Place, Indialantic, FL 32903 (MLS# 1016128)

$1,150,000
500 Palmetto Place
Indialantic, FL 32903
MLS# 1016128
Status: Closed
4 beds  |  4 baths
 | 
500 Palmetto Place, Indialantic, FL 32903
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Property Description
Pristine mid-century home built by famous American race car driver, Jim Rathmann. After winning what was voted the greatest Indy 500 of all time, Rathman used his winnings to build this spectacular estate, hence the street address 500 Palmetto. The home sits on an expansive .45 acre, corner lot located a block away from Orlando Park in coveted SOFA district of Indialantic. Tastefully and thoughtfully updated with sparkling Terrazzo flooring and custom walnut cabinetry and doors throughout. Gourmet kitchen with double-thick quartz counters, Thermador appliances including a gas cooktop and double ovens. Spacious den/office overlooks pool and includes a walnut built-in with TV. Expansive outdoor space with fully remodeled, oversized saltwater pool and cabana bath. Newly constructed concrete block shed/workshop has potential for detached office with power sufficient for mini-split A/C. Infrastructure upgrades include new plumbing (PVC drains), hurricane impact rated windows and doors

Details
Maps
Documents
Contract Information
Current Price: $1,150,000
Original List Price: 1195000
Sold Price: $1,150,000
Status: Closed
Listing Contract Date: 2024-06-06
Start Showing Date: 2024-06-22
Property Sub Type: Single Family Residence
Location Tax and Legal
Street Number: 500
Street Name: Palmetto
Street Suffix: Place
County: Brevard
State: FL
Postal Code: 32903
MLS Area Major: 384-Indialantic/Melbourne Beach
Subdivision Name: Indialantic By The Sea
General Property Information
Bedrooms Total: 4
Bathrooms Total: 4
Bathrooms Full: 3
Bathrooms Half: 1
Living Area: 2722
Living Area Source: Owner
Accessibility Features YN: No
New Construction YN: No
Year Built: 1961
Garage YN: Yes
Garage Spaces: 2
Carport YN: Yes
Carport Spaces: 2
Lot Size Acres: 0.43
Lot Size Square Feet: 18731
Association YN: No
CDD Fee YN: No
Community Fee(s) YN: No
Water Body Access YN: No
Waterfront YN: No
Furnished: Unfurnished
Stories: 1
Direction Faces: South
Senior Community YN: No
List Price/SqFt: 439.02
Sold Price/SqFt: 422.48
Remarks and Miscellaneous
Public Remarks: Pristine mid-century home built by famous American race car driver, Jim Rathmann. After winning what was voted the greatest Indy 500 of all time, Rathman used his winnings to build this spectacular estate, hence the street address 500 Palmetto. The home sits on an expansive .45 acre, corner lot located a block away from Orlando Park in coveted SOFA district of Indialantic. Tastefully and thoughtfully updated with sparkling Terrazzo flooring and custom walnut cabinetry and doors throughout. Gourmet kitchen with double-thick quartz counters, Thermador appliances including a gas cooktop and double ovens. Spacious den/office overlooks pool and includes a walnut built-in with TV. Expansive outdoor space with fully remodeled, oversized saltwater pool and cabana bath. Newly constructed concrete block shed/workshop has potential for detached office with power sufficient for mini-split A/C. Infrastructure upgrades include new plumbing (PVC drains), hurricane impact rated windows and doors
Status Change Information
Major Change Timestamp: 2024-08-26T18:11:37Z
Major Change Type: Status Change
Status Change Timestamp: 2024-08-26
Purchase Contract Date: 2024-07-12
Close Date: 2024-08-26
Close Price: 1150000
DPR Eligible
DPR Eligible: No
Legal Details
Permission Granted to Advertise: Yes
Property Features
Appliances: Dishwasher; Double Oven; Dryer; Gas Range; Ice Maker; Washer
Architectural Style: Mid-Century Modern
Construction Materials: Block; Concrete
Cooling: Central Air
Current Use: Residential
Exterior Features: Impact Windows
Fencing: Back Yard
Flooring: Terrazzo
Heating: Electric
Interior Features: Breakfast Bar; Eat-in Kitchen; Walk-In Closet(s)
Listing Terms: Cash; Conventional; VA Loan
Lot Features: Corner Lot
Other Structures: Workshop
Parking Features: Attached Carport; Circular Driveway; Garage
Pool Features: In Ground
Possession: Close Of Escrow
Rental Restrictions: 3 Months
Road Frontage Type: City Street
Road Surface Type: Asphalt
Roof: Shingle
Sewer: Public Sewer
Special Listing Conditions: Standard
Utilities: Electricity Connected; Sewer Connected; Water Connected; Propane
Water Source: Public
Supplements
whole home generator hook-up, new HVAC ducts (2015) and a tankless water heater. Experience island life at its finest with stunning river-view sunsets at the nearby park and enjoy a short, scenic walk to the beach. Schedule your showing today to view this truly one-of-a-kind home.

Listing Office: Island Pineapple Realty, LLC

Last Updated: April - 01 - 2025

Information is deemed to be reliable, but is not guaranteed.

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