This rare Lake Magdalene property offers approximately 2.5 acres across two parcels in one of Tampa's most desirable lakefront areas. The north parcel includes approximately 1.75 high-and-dry acres in Flood Zone X with frontage off W Bearss Avenue, providing an exceptional setting to build a custom luxury residence. Whether you envision a timeless estate, a modern architectural masterpiece, or a private family retreat, this property offers the space and flexibility to bring that vision to life. There is ample room to incorporate luxury amenities such as a resort-style pool, guest house or ADU (subject to county approval), detached garage, workshop, lush gardens, and expansive outdoor entertaining areas. What makes this property truly unique is the separate waterfront parcel across the street, offering approximately 135 feet of Lake Magdalene shoreline, a concrete dock, and a private boat ramp. Imagine beginning your mornings with coffee overlooking the lake, spending afternoons boating, paddleboarding, or fishing, and ending the day with family and friends gathered around an outdoor kitchen, gazebo, or fire pit as the sun sets over the water. This separate lakefront parcel creates a lifestyle that is exceptionally difficult to find in the Tampa market. The former structure and septic have already been removed with permits, allowing the next owner to focus on designing and building their dream home. This is more than vacant land-it is a rare opportunity to create a one-of-a-kind luxury estate that combines privacy, space, and the unmatched lifestyle of Lake Magdalene.