Set on an exceptionally large and private waterfront lot in the coveted Sunrise Cay neighborhood of Ocean Reef Club, 5 South Pelican Drive presents a rare opportunity to own a substantial canal-front estate with protected dockage and serene water views. The property spans approximately 30,200 square feet with 83 feet of canal frontage and offers protected dockage, complete with a tackle storage room--ideal for boating enthusiasts seeking quiet waters and easy access to the ocean. Lush surroundings and thoughtful siting provide a sense of seclusion rarely found within the Club. The residence offers 6,108 square feet under air and over 16,000 total square feet, delivering generous interior and exterior spaces designed for comfortable island living. Built in 1990, the home features timeless architectural elements including an arched glass entry, grand staircase, vaulted ceilings with exposed wood beams, stone flooring, and a gas fireplace wrapped in keystone. The open-concept living, dining, and kitchen areas are filled with natural light and flow seamlessly to outdoor living spaces. The large kitchen is well-appointed with a Viking gas range, stone countertops, center island, ample storage, and adjacent laundry and pantry areas. Multiple guest suites offer ensuite baths and private access to outdoor patios, while the upstairs primary suite features vaulted ceilings, a private terrace overlooking the pool, spa bath, and dual walk-in closets. Additional highlights include an elevator, full-house generator, gym, expansive covered areas, and massive under-house storage. The home offers excellent bones, scale, and layout--making it a compelling option for buyers looking to personalize a well-located waterfront property rather than start anew.