Positioned in the Bel Mar Shores pocket of South Tampa, this 0.18-acre property offers approximately 70 feet of canal frontage with access to Tampa Bay. Priced nearly $100,000 below the county’s assessed value, it presents two potential exits: renovate and flip the existing home, or tear it down and build new. 

We recommend the luxury new-build strategy.

The recent activity in this pocket supports a closer look at redevelopment. Based on the supplied comps, eight homes built in 2026 have sold within a 0.2-mile radius in the Bel Mar area over the past 180 days, averaging approximately $500 per square foot. Two additional 2026 builds are pending, and the house next door is a stunning 2022 build.

Our recommended concept is an approximately 3,800-square-foot luxury home with a pool. For conservative underwriting, we use $467 per square foot, or approximately $1.775 million, based on the supplied pending comps without pools. At $500 per square foot, consistent with the supplied sold new-build comps with pools, the projected resale reaches approximately $1.9 million. 

The canal frontage, nearby new construction, and two ways to exit make this a compelling opportunity for an investor/builder seeking a project in South Tampa with a projected $320k profit and an estimated 22% ROI.

You know those opportunities you wish you acted upon sooner? Well, here it is! Don't let this one pass you by. Contact your EquityPro advisor today!