A sprawling oceanfront property in Palm Beach just hit the market for $185 million. Owners Joanie and Murray Goodman commissioned the 2.21-acre compound in 1975.

Now, their daughter, Marley Overman of Illustrated Properties, is managing the listing.

“A property like this does not come around often, if at all,” Overman said in a press release. “My parents recognized the sheer potential of this location when they built here in 1975. This is an extraordinary opportunity for the next owner to acquire a rare piece of land with such vast potential, on the ocean, with the option to subdivide if they wish.”

Located at 911 N. Ocean Blvd., the property features a main house, a pool house and a detached guest house with a total of 12 bedrooms, 16 full bathrooms and four half bathrooms. Plus, the acreage offers two pools, tennis courts and 250 feet of private beach along the Atlantic Ocean.

The design also preserves historic elements including an original Mizner wall along the street.

The compound’s ideal buyer would likely be a “visionary ready to build new, or a steward of history,” Overman said. “We would love the next owner to keep it for many generations and enjoy it like we did.”