LOCATION, LOCATION, LOCATION â¦ just imagine.... go 36 feet up and u see the sweeping gulf view..... u get the view in an AE flood zone..... imagine the savings...â¦. Future income generating property in prime location. R2 Zoning allows for 2 dwellings such as a duplex. Buyer could rent on weekly, monthly or seasonal basis...â¦... Full house demo approx 25k.. This cute little bungalow has been primarily used as a permanent residence and could be remodeled/renovated or potentially rebuild from the ground up building multiple units with city of holmes beach approval. Just across Gulf Drive to the beach, and local shops and restaurants - walking is a breeze to everything you need yet this home is a short walk across gulf drive to the beach . Enjoy the island life today.