Boatable waterfront property, generally speaking, is priced according to the type of water access/water view it provides.
A salt-water canal with enough water to float a fair-sized outboard powerboat can be pretty affordable. You can get started for under $200,000, depending largely on boating distance from the Gulf — expect a fairly long run of 6-8 miles at that price; the closer to the Gulf, the more it costs. Expect a narrow strip of water with a view of your neighbor’s dock and back porch across the canal.
The price goes up after that, if:
- the canal is broad, or better yet, a natural bayou that gives you a little space between you and your neighbors;
- the lot sits out at the juction of two canals on a corner or a peninsula that gives a broader view yet;
- the lot has a view of undevelopable wetlands or a preserves; or
- the lot has frontage on open water, like a bay. These can run close to a million and go up from there, depending on dozens of variables.
I have stumbled across a foreclosure home that is extraordinary in its location, and it will likely list for less than a million dollars. Assuming some flexibility on the part of the bank that owns it, it may sell for $700-800k … and it is REMARKABLE. Buy it if you can!
It sits on a corner lot of a half-acre between Terra Ceia Bay and a canal, so it has both a stellar open-water view AND 2 more protected slips (one with a boat house — rare!) up the canal. The house has roll-down hurricane shutters, a gorgeous pool, and lots of space (4 bedrooms, 3600 SF). Oh, and the Gulf is about 10 minutes’ run from the dock!
Here is a video of the view (8 more are on youtube.com, just click here to see them all):
If you, or anyone you know, is in the market for a wonderful piece of boating property, contact me right away. I’ve looked at every other property for sale on Snead Island and this one is unmatched in its class. It is not yet on the market, but when it comes up for sale, I think it will sell FAST.