$2,900,000

Water Island is just 1/2 mile off the southside of St. Thomas but feels lightyears away conveying a feeling of how a Caribbean Island is meant to be. Quiet and serene where everyone truly functions as a community. Your mode of transportation around Water Island typically is a golf cart. This incredible 3.26 acres site zoned W-1 above Flamingo Point has remnants of a former hotel. The plans and permits reimagine it as a boutique hotel with a bar and restaurant. Water Island is the smallest of the four main U.S. Virgin Islands, measuring approximately 491.5 acres (roughly 0.77 square miles. It is about 2.5 miles long and varies from 0.5 to 1 mile in width, located in the Charlotte Amalie harbor just south of St. Thomas. There are less than 300 people who live full time on Water Island and the typical mode of transportation is a golf cart. The Department of Interior owned and managed Water Island from 1950 until it was transferred to the Government of the US Virgin Islands in December 1996. People who lived there and had built homes did not own their land until 1996, rather they leased land from the Department of Interior. Now land is owned in fee simple as in the other 3 US Virgin Islands. Water Island is just a 10 minute boat ride from Crown Bay Marina to Phillips Landing on Water Island. Amazing property of 3.26 US acres which contain the remaining structures from the Limestone Reef hotel Located right next to Fort Segarra, which was constructed by the US Government during WW2, this property commands a presence with its knoll top location above Flamingo Point on the Southern tip of Water Island. Water views from virtually every square foot of the 3.26 acres. There are approved plans for permits for the project which will have over 25 rooms and support services such as a bar and restaurant. We will be happy to share the extensive plans with a potential buyer.