Rare Open-Water Opportunity on Island Estates | Renovate, Reimagine, or Rebuild Your Waterfront Dream Exceptional Open-Water Views. Premier Island Estates Location. Endless Possibilities. A rare opportunity to secure a spectacular open-water property in one of Clearwater Beach's most desirable waterfront communities. Perfectly positioned on an expansive lot near the end of a quiet cul-de-sac, this exceptional Island Estates property offers breathtaking, unobstructed views of the Intracoastal Waterway, remarkable privacy, and the opportunity to create a truly extraordinary waterfront residence. The true value lies in the location, the expansive waterfront setting, and the extraordinary potential to transform this property into something exceptional. Whether your vision is to restore and reimagine the existing Mediterranean-style residence or start fresh with a custom-designed luxury estate, this property provides an outstanding canvas for creating your dream home overlooking the sparkling open waters. The existing custom-built residence offers over 4,100 square feet of living space, featuring five bedrooms, four bathrooms, and a spacious floor plan designed to embrace its magnificent waterfront surroundings. Water views are enjoyed from nearly every principal living area, while the generous second-floor primary suite features a wood-burning fireplace and private balcony overlooking the Intracoastal. A grand great room and expansive family room provide the foundation for gracious living and entertaining. Outdoors, the tropical pool area and spacious lanai offer an inviting setting for enjoying the coastal lifestyle, with sweeping open-water vistas providing a stunning backdrop. Boating enthusiasts will appreciate the convenient access to the Gulf of Mexico, just around the corner, making this an especially appealing location for those who enjoy life on the water. An Opportunity to Create Something Extraordinary: A portion of the home's first level sustained storm-related flood damage, and the property is being offered with the understanding that significant renovation or redevelopment may be desired. For buyers with vision, this presents a compelling opportunity to undertake a comprehensive renovation or remove the existing structure and design a spectacular new waterfront estate, subject to applicable building regulations and approvals. Located in the sought-after, golf cart-friendly community of Island Estates, this property offers the perfect balance of peaceful waterfront living and convenient access to the vibrant attractions of Clearwater Beach. World-famous white-sand beaches, waterfront dining, boutique shopping, and marinas are just minutes away, with convenient access to both St. Pete-Clearwater International Airport and Tampa International Airport. Properties offering this combination of expansive open-water views, exceptional location, and redevelopment potential are seldom available. For the discerning buyer, investor, or visionary homeowner, this is more than an opportunity to purchase a waterfront property, it is an invitation to create a one-of-a-kind coastal retreat in an extraordinary setting. Bring your vision. Embrace the possibilities. Create your dream on the open water.