Derek Jeter's $22.5 Million Former Florida Mansion Once Rented to Tom Brady May Be Demolished

Dimitrios Kambouris/Getty; Romain Maurice/Getty Tom Brady and Gisele, Derek Jeter

Derek Jeter's massive Tampa Bay mansion may soon be no more.

The former Yankees shortstop, 48, famously rented his 30,000-square-foot waterfront home to Tom Brady, 45, and Gisele Bündchen, 42, when the quarterback joined the Buccaneers, before selling it for $22.5 million last spring.

The home's new owners appear to have plans to demolish the Davis Island home, once dubbed "St. Jetersburg."

A spokesperson for the city of Tampa confirms to PEOPLE that the owners began an application for a commercial demolition permit. However, they have not finalized the application.

Local Tampa news outlet WTSP was first to report on the demolition permit. Jeter's home is so large that it was built on multiple adjacent lots that were combined and, WTSP points out, any new houses constructed on the same site would need to be 4-6 feet higher due to new flooding regulations

RELATED: Derek Jeter Sells $22.5M Tampa Bay Mansion He Previously Rented to Tom Brady - See Inside!

Jackie Brown / SplashNews.com

At the time of the home's sale, the listing agency Smith & Associates stated it was the biggest ever in the Tampa region.

"It is the most impressive home to ever hit the market in Tampa Bay and the sale price reflects that fact," a representative for the real estate agency told PEOPLE in May 2021.

The property is also reportedly the most expensive and largest house to ever be built in the area. Jeter constructed the approximately 30,000-square-foot waterfront home in 2011.

It boasts seven bedrooms, nine bathrooms, a six-car garage, two boat lifts, nearly 9,000 square feet of outdoor space and an 80-foot-long saltwater lap pool with a spa. Surrounding the home is a six-foot-tall privacy wall that local residents reportedly dubbed "The Great Wall of Jeter."

Once inside the home, guests are greeted by a 24-foot-high foyer surrounded by floor-to-ceiling windows that provide an incredible view of the pool and bay beyond.

The home also features a grand salon and a clubroom with a full bar and billiards table - as well as a wine cellar, gym, movie theater, in-law suite and outdoor kitchen.

RELATED: Tom Brady and Gisele Bündchen Renting Derek Jeter's Tampa Bay Mansion After Move to Florida

In April 2020, Jeter rented the property to new Tampa residents Tom Brady and Gisele Bündchen after the NFL player decided to leave the New England Patriots and signed with the Buccaneers.

Cliff Welch/Icon Sportswire via Getty Tom Brady

The quarterback and supermodel moved into the home with their three kids - John Edward Thomas, 15, (whom Brady shares with ex Bridget Moynahan), Benjamin, 12, and Vivian Lake, 9.

During an interview on Sirius XM's The Howard Stern Show in April, Brady said the home "worked out perfect" for him and his family as he began his new life in Florida.

"There's enough space here," Brady said. "We have my sister-in-law that lives with us, our kids and we have someone that cooks for us. So everyone's got a little space. The nice part is we have a lot of outdoor space here. I can do all my football training here, which I really like. It's been a good place to come down. [Jeter] left it furnished for me so I didn't have to deal with any of that."