189 Climbing Rose Way Santa Rosa Beach, FL 32459

A truly rare opportunity has come available in WaterColor — the last remaining corner lot in the entire community, located in the highly desirable, non-rental Phase V. Lot 27 on Climbing Rose Way offers the kind of privacy, positioning, and long-term value that simply can't be duplicated. This property conveys with fully approved architectural plans for a custom luxury residence, with construction scheduled to begin in December 2025 and an estimated 13-month build timeline. If you're not ready to build right away, you also have the option to purchase just the lot itself, along with the approved plans, giving you full flexibility to move forward on your own timeline. The estimated building cost for the approved design is approximately $2.3M, with a projected finished value coming in well under $4M. That positions the future owner to walk into the home with over $500,000 in potential equity, depending on finishes and market conditions. Opportunities with this level of built-in value are extremely difficult to find in WaterColor, especially when the design work, approvals, and planning have already been completed and streamlined for you. Phase V is known for being the most private and residential section of WaterColor, offering a quieter, more elevated living experience while still granting full access to the community's exceptional amenities. Owners enjoy the WaterColor Beach Club with resort-style pools, private beach access, a state-of-the-art fitness center, and dining options. Miles of scenic trails connect the entire community, perfect for biking and walking. The WaterColor Boathouse offers paddleboarding and kayaking on Western Lake, one of the area's rare coastal dune lakes. Additional amenities include tennis courts, multiple community pools, parks, and convenient access to boutique shopping and dining along Scenic Highway 30A. Whether you're planning a full-time residence or a seasonal retreat, this property provides a premium canvas to create a truly special home in one of the most sought-after coastal communities in Florida. The combination of a corner lot, approved plans, privacy, and substantial projected equity makes this one of the strongest opportunities currently available in WaterColor. For more information or to review the complete set of approved plans, contact Jake LeBlanc at (850) 280-4894.