Opportunity to build up to & potentially subdivide three homes with 150' linear ft of waterfrontage. Spectacular & premier downtown Miami skyline views. Half acre (150' wide by 140' deep) on newly restored 24/7 guard gated Palm Island. Two homes, with 276 S Coconut currently long-term leased at $15K/month. Sale includes both 266 & 276 S Coconut Lane. 266 has a double-sized lot, 100 ft water frontage w/newer Dock, open floorplan, high ceilings and a Grand Master Suite. Zoned RS-4: Options are a) build a single home up to 10,500 SF or b) divide lots and build three new separate homes, or c) keep as is and renovate the two existing homes.