Exceptional Waterfront Opportunity on Island Estates – Renovate or Rebuild with Stunning & Rare Open Water Views! Welcome to one of the most desirable waterfront locations in Clearwater Beach – Island Estates. This 5-bedroom, 4-bathroom home offers over 4,100 square feet of living space and sits on an expansive open-water lot just steps from the cul-de-sac, offering both breathtaking views and enhanced privacy. This is a rare chance to either renovate a custom-built Mediterranean-style residence or build your dream home from the ground up on this prime piece of waterfront real estate. The property did experience flooding during the last major storm and is being sold as an opportunity for a full renovation or new construction. Inside, enjoy water views from nearly every major room, including the spacious second-floor primary suite featuring a wood-burning fireplace and private balcony. The home’s layout includes a grand great room, and an open-concept family room that create a warm and inviting living space ideal for entertaining or everyday life. Step outside to a large, tropical pool area and a lanai perfect for relaxing or hosting guests while taking in the sweeping views of the open Intracoastal waters. Boaters will appreciate the easy access to the Gulf of Mexico, just around the corner from your backyard. Island Estates is a golf cart-friendly community and just minutes from Clearwater Beach, shops, restaurants, and the marina. Located approximately 15 miles from both Clearwater/St. Petersburg and Tampa International Airports, this property offers the best of waterfront living in a vibrant coastal setting. Whether you’re dreaming of a luxury renovation or designing a brand-new waterfront estate, this Island Estates property presents a rare and exciting opportunity.