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6351 4Th Palm Pt St Pete Beach, Florida 33706 MLS# MFRTB8319067
Under contract-accepting backup offers. Back on the market because the buyer changed his mind. The substantial damage determination letter just came in and the GOOD NEWS IS that the property was deemed only 39.1% damaged so a rebuild may be a possibility however the seller/ broker does not make any warranty. The FEMA letter states they will allow improvements not to exceed a value will allow up to $178,000 +/-. The home is priced at lot value and now is your opportunity to craft your dream residence or make a strategic investment on the esteemed 4th Palm Point in St. Pete Beach! This exceptional 80-foot waterfront lot, priced significantly below FEMA's lot valuation of $1,859,788 (PCPAO), presents breathtaking open water views of Boca Ciega, ideal for those seeking the pinnacle of waterfront living. Envision the endless possibilities: developers can realize a luxurious masterpiece, while investors can unlock the vast potential this prime lot offers. Currently, a 2,500-square-foot single-story block home occupies the property. Please be aware that the home sustained damage from Hurricane Helene, and FEMA's 50% rules restrict rehabilitation options. The seller makes no assurances regarding the home's condition, leaving the decision to renovate or redevelop entirely in your hands and selling the property below market lot value. Situated in one of Florida's most sought-after beach communities, this prime location is ready for your vision! Don’t let this rare chance slip away to influence the future of St. Pete Beach. Embrace the potential, act swiftly, and leave your legacy on the Gulf Coast’s premier waterfront enclave!
Approximate Room Sizes
Bathrooms
Reduced By $125,000