A rare double-parcel waterfront opportunity in Lower Sugarloaf Key - offering a newly constructed home plus an adjacent buildable lot, creating the ultimate private boating compound. The newly built 3BD/2.5BA residence with an office/den & laundry/utility room spans 2,288sf on a 16,445sf lot and is thoughtfully designed with an open-concept layout, abundant natural light, and sweeping water views throughout. The primary suite features a spa-inspired bath, while outdoor living is elevated with an expansive balcony, private pool, tiki hut, custom landscaping, and a concrete seawall providing direct boating access (18' x 24'). The elevated construction offers a spacious carport and generous covered area, ideal for parking, storage, or entertaining. Included in the offering is the adjacent 8,165sf cleared waterfront lot, complete with a 70' concrete seawall and active building permits, perfect for a guest residence, additional structure, or expanded outdoor living space. This parcel also allows ample room for trailers, RV parking, or enhanced privacy through additional landscaping. Situated on a deepwater canal with direct access to both the Atlantic Ocean and Gulf of Mexico, this property is a boater's dream offering immediate access to world-class fishing, sandbars, and reef snorkeling, with capacity for a large vessel. Located just minutes from Key West, this is a rare opportunity to own a turn-key waterfront home with expansion potential in one of the Lower Keys' most desirable boating communities. *Seller is a licensed Florida Realtor.