A distinctive bayfront residence with extraordinary possibilities on Key Royale, one of Anna Maria Island's most desirable waterfront neighborhoods. Situated on one-third of an acre with 100 feet of direct, deep-water Tampa Bay frontage, this exceptional property offers sweeping views toward the Sunshine Skyway Bridge, spectacular evening colors reflected across the bay, and beautiful western sunsets enjoyed from the new private dock. Across the street, the lush greens of Key Royale Golf Club complete a setting that beautifully combines waterfront and golf course living. Offering approximately 5,000 square feet, the existing residence features four bedrooms, four full and two half bathrooms, soaring cathedral ceilings, spacious living and dining areas, and a flexible floor plan with generous opportunities for renovation and personalization. Expansive windows and multiple outdoor living areas take advantage of the waterfront surroundings, while the home's generous proportions provide a wonderful foundation for creating a distinctive island retreat. Outdoor features include a 20-by-45-foot swimming pool, a new seawall (2025), and private dock (2025) with direct access to Tampa Bay. The setting invites boating, entertaining, and enjoying the constantly changing waterfront scenery. The residence experienced some flood damage and offers an opportunity for thoughtful renovation and updating, subject to applicable FEMA and City of Holmes Beach requirements, permits, and approvals. Alternatively, the exceptional homesite presents an opportunity to create an entirely new custom waterfront estate designed around its remarkable views and island setting. Located in the established Key Royale community, just minutes from Anna Maria Island's beautiful Gulf beaches, restaurants, and boutiques, this property offers a rare combination of substantial existing living space, exceptional waterfront frontage, golf-course surroundings, and future possibilities. Whether beautifully reimagined or newly created, this is an opportunity to enjoy the very best of Anna Maria Island waterfront living.