**NEW PRICE! $1,424,000 | PRIME NORTH END ANNA MARIA ISLAND LOCATION | 8,350 SQ. FT. LOT | REDEVELOPMENT OPPORTUNITY | WEEKLY RENTALS PERMITTED | ARTESIAN WELL!** **LOCATION IS EVERYTHING, AND THIS ONE IS HARD TO BEAT! * Welcome to 306 Palm Avenue, an incredible opportunity to own a piece of paradise in one of the most sought-after locations on Anna Maria Island! Situated on the island's highly desirable NORTH END, just a short stroll from the breathtaking beaches and the charming shops, restaurants, and boutiques of Pine Avenue, this property offers the location, lot size, and potential that buyers dream about! Sitting on an approximately **8,350-square-foot (.19-acre) lot**, this property presents an exceptional opportunity for investors, builders, or buyers looking to create their very own island retreat. Whether you're envisioning a stunning new coastal home, a complete transformation of the existing residence, or a vacation getaway with income-producing potential, the possibilities are exciting! The existing 3-bedroom, 3-bathroom home offers approximately 1,902 square feet of living space, including a separate mother-in-law suite configuration, providing an opportunity to explore a variety of renovation options. **ONE OF THE PROPERTY'S MOST UNIQUE FEATURES IS ITS SEPARATELY DEEDED ARTESIAN WELL!** A distinctive feature that sets this property apart, offering a potential water source for irrigation and landscaping, subject to verification of its condition and permitted uses. The property's well reportedly provides irrigation water to the nearby community center, making it a distinctive part of this north-end property. Imagine creating your own lush tropical oasis with beautiful palms, vibrant landscaping, and an inviting outdoor living space! This property can be sold with or without the well! **WEEKLY RENTALS ARE PERMITTED**, adding another layer of opportunity for those considering a vacation home or investment property. With the Gulf beaches just moments away and the shopping, dining, and old-Florida charm of Pine Avenue nearby, this is the kind of location that makes Anna Maria Island so desirable. The existing home sustained flooding during the 2024 hurricanes and requires substantial renovation, making this an ideal opportunity for buyers ready to bring their contractor, architect, and imagination. A newer metal roof installed in 2024 is already in place, offering an additional feature for those considering renovation. **NOW OFFERED AT $1,424,000 - A $271,000 REDUCTION FROM THE ORIGINAL ASKING PRICE!** Opportunities to secure a sizable lot in this coveted north-end location don't come along every day. Whether your vision is to renovate, reimagine, or explore new construction, 306 Palm Avenue is your chance to create something truly special on Anna Maria Island! **DON'T JUST BUY A HOUSE - CREATE YOUR OWN PIECE OF PARADISE!**