Extremely rare opportunity to build your estate on 150' on water on a square half acre (150' wide by 140' deep) with the very best views of downtown miami from prestigious palm island. Collect rent from the 2 homes while you prepare plans and obtain building permits. Sale includes both 266 & 276 s coconut lane. 276 is rented for $15k/mo until oct 31, 2021 with a 12 month option to extend and 266 is owner occupied but would leaseback if of interest to buyer. Zoned rs-4: options are a) build a single home up to 10, 500 sf, or b) divide lots and build 3 new separate homes, or c) keep as is and renovate the 2 existing homes.