Open Water Estate Lot with Incomparable Sunsets! The stunning water vistas provide a timeless backdrop to build your Dream Home. 46 Cannon Royal is a large lot with 17,440 Sq. Ft. lot and 83' of Open Water Views. Shark Key is a gated community, minutes from Key West that boasts two miles of shoreline, lush foliage, sparkling lagoons and some of the most exquisite waterfront homes. Enjoy the luxury of Shark Key's Caribbean Island Ambiance and it's amenities: Inland Swimming Lagoon & Beach, two tennis courts and club house for your enjoyment. Shark Key Association is a mandatory association.