Blacks Island Story Beach Bungalow #1, Pt Saint Joe, FL 32456

This is a rare opportunity for a private waterfront bungalow on Black’s Island, a 7 acre private island.  Located in the heart of St Joseph’s Bay, situated amidst the breathtaking beauty of the Gulf Coast, this seven-acre private island features waterfront bungalows for optimal seclusion. The island features 26 private waterfront bungalows (currently, 11 individual bungalows are available to choose from) each with stunning waterfront views. In the common area is a four-story clubhouse, a cabana, and a pool with sundecks – nestled among palms, the bungalows and their amenities are connected by an elevated 1,200-foot cedar boardwalk. Boat Service to and from island and island restaurant now open. All electricity, insurance, and property taxes for your bungalow are included in the annual HOA dues. The initial HOA fees are $48,000 per year. (Compared to a similar $1.5M beach house on the Forgotten Coast, taxes and insurance alone would be in the $40,750k range). Nearly half the annual expense of a traditional beach home. **This is a rough estimation based on research of beach homes in a comparable price point in the region. This information should be independently verified.*** One-Story Bungalows Currently Available: 2 bedrooms with king beds, a loft with full bed and two full bathrooms - Unit 8, Unit 9, Unit 10, Unit 11, Unit 13, Unit 22 – Asking Price $1,500,000 each** **You will own a 99-year lease of one of only twenty-six bungalows (it is structured in such a fashion that you can get traditional title insurance and traditional mortgage). These leases are fairly common on islands and relationships with title insurance and eager lenders have already been established. You will receive a clear and marketable title. Upkeep of common areas are essentially modeled like an HOA or a condo model. The island for the most part is self-sufficient as far as utilities. It has electricity that runs under water to the mainland (the island has never had any electrical issues to date). The electric comes from land side and there are two lines, there is a primary line and what they call a hot secondary spare. The island has a 600 ft private well with10,000 gallons of capacity in the tanks that is monitored by the State. The island has a private sewer system, and it has great internet (satellites). While not being enjoyed by your family, owners can place their bungalow in a rental program, should they desire. There is a management company in place to handle short-term rentals on the island. The restaurant at the clubhouse will be available for reservations with two days’ notice. There are several jet skis on the island at the dock by the Clubhouse. Owners can reserve to use the jet skis through the concierge service. For everything you will need for outdoor adventures, head to Blue Water Outriggers. The Grounds and Amenities: The grand four-story clubhouse is a great place to gather for socializing and dining. It features wood plank walls and ceilings, wood beams on the ceilings, and a center spiral staircase. There are indoor dining tables and tall tops, a bar, a lounge area with sofas and television, game tables on the ground floor, and two balconies with seating to take in the breathtaking views. There is also an island gift shop located in the clubhouse. The downstairs “cabana” has a bar, restrooms, outdoor covered seating, and several areas for the kiddos to enjoy ring toss, corn hole, and outdoor connect four. Just outside the clubhouse is a large green space perfect for picnics and outdoor recreation. Beside the clubhouse is the 40x16' swimming pool which has spacious sundecks overlooking views of the water and spectacular sunsets. Additional amenities include beach volleyball, a water trampoline, a private white sandy beach, and a dock that accommodates boats up to 40’ and jet skis. Owners will also have access to the amenities at the land side Black's Island Hotel which is currently under construction.