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    1121 Bel Air Dr Highland Beach, FL 33487

    View on Map
    Sponsored
    For Sale
    $4,900,000

    MULTI_FAMILY - Highland Beach, FL

    Property size:
    8,041 SF
    Days on Market:
    6
    Last Refresh:
    Mar 22 at 3:06 am

    Property Features for 1121 Bel Air Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Blinds
    Zoning
    RML
    Rooms
    Bedroom 6, Bathroom 8, Bathroom 9, Bedroom 12, Bedroom 9, Bathroom 6, Bathroom 2, Bathroom 11, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 5, Bathroom 3, Bedroom 7, Bathroom 10, Bathroom 13, Bathroom 4, Bathroom 12, Bedroom 8, Bedroom 4, Bedroom 11, Bedroom 1, Bathroom 1, Bedroom 10, Bathroom 7
    Bedrooms
    12
    APN
    24434704020010100
    Patio and Porch features
    Deck, Patio
    Pool private
    1
    Exterior features
    Balcony
    Fencing
    Fenced
    Size
    8,041 SF

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Central Air, Ceiling Fan(s)
    Water source
    Public
    Water front features
    Beach Access, Seawall
    Water front
    1

    Building Details

    Year built
    1979
    Floors in Building
    3
    Number of units
    44
    Flooring type
    Wood, Tile
    Building materials
    CBS, Stone Veneer
    Roof type
    Metal

    We can help!

    Listing Contact
    Lorena Moscoso

    Century Village Real Estate

    Listing agent Lorena Moscoso License #3326243

    Listing date Mar 17, 2026

    MLS# F10484606

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Luxury Highland Beach Quadplex

    This quadplex, located in the heart of Highland Beach, offers a coastal lifestyle with income potential. The property, with over 8,000 sq ft, is nestled along the Intracoastal waters and includes deeded beach access. It is situated minutes from Downtown Delray and Boca. The quadplex generates an annual income of over $350K. It is zoned RML and is suitable for owner-residents looking to offset costs or investors seeking a revenue stream.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Highland Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.066966
    Latitude
    26.396897

    Nearby Similar for Sale

    • $4,900,000
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      Highland Beach Quadplex Opportunity

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    • $4,900,000

      Highland Beach Quadplex with Income

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    FAQs

    What type of property is this?
    Quadplex - Prestigious quadplex in Highland Beach with income potential.
    Where is this quadplex located?
    The property is located at 1121 Bel Air Dr Highland Beach, FL.
    What is the asking price?
    The asking price for this property is $4,900,000.
    What are key features of this property?
    This property features: - Generates over $350K in annual income.; - Located in Highland Beach with deeded beach access and Intracoastal frontage.; - Quadplex with over 8,000 sq ft.
    (954) 435-6118
    Request Owner's contact information
    1121 Bel Air Dr Highland Beach, FL 33487
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    Highland Beach, FL 33487
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1121 Bel Air Dr Highland Beach, FL 33487
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    We can help!
    Listing Contact
    Lorena Moscoso
    Real Estate License ID: 3326243
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