Located in the gated waterfront community of Spinnaker Cove, this spacious three-bedroom, two-and-a-half-bath townhome offers approximately 2,200 square feet of comfortable coastal living along scenic Bayou Grande. Residents have access to a community dock with 38 boat slips, including power and water service and protected depths of approximately four to ten feet, providing convenient access to Pensacola Bay and the Gulf beyond. The surrounding environment is equally shaped by nature, with nearby Ann’s Bayou creating a natural buffer and attracting heron, osprey, and other coastal wildlife. Inside, please note that all furnishings will convey at Buyer's discretion. Features include an open living and dining area, two wood-burning fireplaces located in both the living room and primary suite, and water views from balconies off the living room and primary bedroom. The primary suite includes a sitting area, oversized tub, dressing space, and separate water closet. All bedrooms are located on the upper level, while a convenient half bath is positioned on the main floor and the laundry area sits just off the dining space. Recent updates include impact-rated storm windows (28K), updated HVAC, water heater, refrigerator, carpet, and a roof installed in 2022, offering added confidence for future ownership. The oversized two-car garage is designed as a pass-through with doors at both the front and rear of the townhome, allowing for generous storage and flexible use. Low monthly HOA dues of $155 cover grounds maintenance as well as water and power at the dock and slips. Opportunities for boating, kayaking, and coastal recreation are close at hand, along with seasonal Blue Angels airshows overhead and convenient access to downtown Pensacola, Perdido Key, and the Gulf of Mexico. Offered at $535,000, this property is well suited for a primary residence, second home, or short-term rental investment within one of Pensacola’s established waterfront communities.