Waterfront Property on Treasure Island Hits the Market

Nine-thousand-square-foot home with 73 feet of frontage on Paradise Island seeks new owner after hurricane damage.

Apr. 15, 2026 at 10:38pm

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An extremely abstracted, out-of-focus photograph of a tropical waterfront scene with palm trees, boats, and a distant horizon, composed entirely of soft, warm pools of light and color.A tranquil waterfront property on Paradise Island offers a chance to restore or rebuild in a picturesque Treasure Island setting.Treasure Island Today

A 4-bedroom, 2-bath waterfront home on Treasure Island's Paradise Island neighborhood has hit the market for $1,020,000. The 9,518-square-foot property features 73 feet of frontage on the water and was damaged by 6 inches of flooding during a hurricane in 2024, leaving the owner with the option to restore or demolish and rebuild.

Why it matters

Treasure Island is a highly desirable residential area known for its tropical charm, friendly community, and proximity to beaches, downtown St. Petersburg, and recreational amenities. This listing represents an opportunity for a buyer to acquire a prime waterfront property in the area, either by restoring the existing home or starting fresh with a new custom build.

The details

The 2,409-square-foot home was constructed as a 4-bedroom, 2-bath residence. After sustaining 6 inches of water damage to the floors, drywall, and electrical systems during a 2024 hurricane, the current owner has the option to either restore the existing structure or demolish it and build a new dream home. Neighboring properties on Paradise Island have taken both approaches.

  • The property was listed for sale on April 15, 2026.
  • The home sustained hurricane damage in 2024.

The players

Paradise Island

A highly desirable residential neighborhood on Treasure Island, known for its friendly residents, convenience, and tropical charm.

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What’s next

Prospective buyers will need to decide whether to restore the existing home or demolish and rebuild on the prime waterfront lot.

The takeaway

This listing represents a unique opportunity to acquire a sizable waterfront property in the desirable Treasure Island community, with the flexibility to either rehabilitate the existing home or start fresh with a custom build.