Waterfront opportunities of this caliber are uncommon in this market. This 4.7 acre parcel on Pearl Lake offers 169+/- feet of frontage on a true all sports lake, providing genuine recreational access for boating, fishing, and swimming rather than a passive water view. The site has been thoughtfully prepared for development. A driveway is already in place, and the building site has been semi cleared, reducing both the cost and complexity of the build process. The topography supports a lower level walkout design, and the parcel's westerly orientation provides consistent sunset views over the water. Buyers also have the flexibility to build a pole barn before constructing a home, an uncommon allowance that opens the door for phased building plans, equipment and boat storage, or simply getting settled on the property ahead of a full build. Positioned in the northern portion of Benzie County, the property offers a rare combination of privacy and accessibility. Downtown Traverse City is 16 miles away. Empire is 12 miles. Glen Arbor is 15 miles. Lake Ann is just 6.5 miles, placing this parcel within easy reach of the region's dining, wine trails, and outdoor recreation, including Sleeping Bear Dunes National Lakeshore. For buyers seeking buildable, all sports waterfront acreage near the Leelanau County line, this parcel represents a distinct opportunity in a location where comparable offerings are rarely available.