11566 47th Avenue NSt Petersburg, FL 33708Price: $799,000

Open water is the real asset here, and it is hard to find on this stretch of the Intracoastal. This Ridgewood Riviera waterfront property sits on a 79 x 100 lot with roughly 100 feet of frontage, a wide view across the waterway toward the Madeira Beach skyline, and direct boat access to the Gulf of Mexico. Late in the day the light comes across the water and fills the back of the house, which is exactly the view a new build would be designed around. The home is being sold as-is. The existing two bedroom, two bath block residence, built in 1966 with 1,351 heated square feet and a two-car attached garage, has been remediated, with flood cuts complete and damaged flooring removed. Pinellas County has placed a Substantial Damage notice on the structure, which generally means any rebuild or major repair will need to meet current floodplain requirements, so buyers should confirm their plans with the County early. That makes this a location purchase first, and a clean starting point for a builder, investor, or owner ready to elevate or start over on one of the better water lots in the neighborhood. The water side is where this property earns its price. A screened lanai and a windowed Florida room both face the waterway, and the open lawn runs out to a newer seawall cap. The existing dock and lift are due for a rebuild, which gives the next owner the chance to design a dock and lift sized for their own boat rather than inheriting someone else's setup. Water depth here accommodates a sailboat, a rare detail for buyers who want to keep a mast-up boat at home. The setting is quiet and residential, with Madeira Beach, John's Pass Village, and the Gulf beaches a short drive across the causeway, and the Seminole and Park Boulevard corridors close by for groceries, dining, and everyday errands. Bring a builder, an architect, and a boat in mind, because the water is already here.