An exceptional redevelopment opportunity awaits at 101 S. Prospect Street in Crescent City, Florida. This expansive 12.74-acre site, formerly home to a middle school, offers a rare combination of scale, location, and waterfront access. With approximately 350 feet of frontage on Crescent Lake across the southern 5 acres, the property presents a compelling canvas for residential, institutional, or mixed-use transformation. The campus includes nine buildings constructed between 1920 and 1976, totaling over 85,000 square feet. Notable features include a gymnasium, auditorium, and a 2005-built cafeteria equipped with a walk-in cooler and freezer. The original school building includes a basement with overhead sprinklers on both levels, and the site is fully serviced by city water, sewer, and natural gas. Strategically located in the heart of Crescent City, the property benefits from proximity to Palatka to the north and Volusia County to the south, offering access to regional population centers and infrastructure. With PF-1 zoning currently in place, the site is primed for rezoning to support multifamily housing, assisted living, or administrative facilities—making it ideal for developers seeking to capitalize on Florida’s growing demand for residential and senior living options. Whether repurposing existing structures or pursuing new construction, this property offers unmatched flexibility and scale in a serene lakeside setting.