An Incredible Investor’s Opportunity! This prime lot, just steps from Lemon Bay, offers the perfect canvas to build your dream home with spectacular Bay views. Whether you choose to renovate the existing charming cottage or start fresh with a new build, this property presents tremendous potential in a highly sought-after neighborhood. Imagine designing a custom home that takes full advantage of the stunning water views and exceptional location. Situated just two blocks from Historic Dearborn Street's shopping and dining, and only 3.9 miles to Englewood Beach, this location is ideal for a vacation home or long-term rental. Launch your kayak from the Bay at the end of the street, or take your boat to the nearby canal or boat ramp for access to Florida’s best fishing and waterways. This property also presents the opportunity to acquire the adjacent county-owned land to the east, adding even more potential. With hurricane impact windows, a screened lanai, and the chance to make it your own, this is a rare investment opportunity. Note: The home has not been remediated and contains mold. Don’t miss your chance to restore or rebuild in this prime location! The existing home, which sustained flood damage from recent hurricanes, boasts a solid foundation for restoration. Its bright, tropical exterior and classic character provide the perfect starting point for revitalization. Inside, you'll find a thoughtfully designed floor plan with soaring vaulted ceilings, exposed wood beams, and a spacious loft that offers endless possibilities. Other features include hurricane impact windows, a cozy fireplace, and a screened lanai. Per owner: The HVAC is brand new, but got flooded. It's a very expensive infrared system with all new duct wood. Not sure if it works... likely need some service. And Rubber roof was replaced after Hurricane Ian. Shingled roof, not sure. Also see mls #C7502538 for Single Family Home Listing.