Under contract-accepting backup offers. Short Sale. Located in one of St. Petersburg's most recognizable waterfront communities, this property presents a rare chance to restore or redevelop in a neighborhood surrounded by renovated homes, new construction, parks, and waterfront access. The home experienced flooding in 2024 and has not been fully rebuilt. Initial remediation and rebuild efforts were started but halted during the permitting process, creating an opportunity for the next owner to determine the best path forward. Buyers should conduct their own due diligence with the City of St. Petersburg regarding renovation requirements, FEMA substantial improvement rules, elevation requirements, and future building options. Shore Acres continues to see strong demand from homeowners and investors alike due to its proximity to downtown St. Petersburg, the new Shore Acres Recreation Center, waterfront parks, and easy access to Tampa Bay. Whether restoring the existing structure or exploring redevelopment potential, this property offers a chance to secure a position in one of Northeast St. Petersburg's most sought-after neighborhoods. Short Sale - subject to lender approval.