Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Oceanfront Lot with Approved Plans Title is generated by Realmo AI

    115 S 37th Street, Mexico Beach, FL 32456

    View on Map
    Claim this Listing
    For Sale
    $835,000

    LAND - Mexico Beach, FL

    Lot size:
    0.11 Acres
    Added:
    Mar 24, 2026
    Days on Market:
    73
    Last Refresh:
    Jun 4 at 5:06 pm

    Property Features for 115 S 37th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Resid Single Family
    Standard status
    Active
    APN
    04634-074-000
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Description
    MEXICO BEACH UNIT 5(8.04)213D1 BEG 72.07' SELY OF N COR LOT 8 BLK 4 TH CONT SELY 27.93' SWLY 188.76' NWLY 23' NELY 191.77' TO POB AKA UNIT 11 BEING PART OF LOTS 8 & 9 BLK 4 ORB 4381 P 94 ORB 1777 P 920

    Utilities

    Sewer type
    Public Sewer
    Water front
    1

    We can help!

    Listing Contact
    James M Row

    Listing agent James M Row License #3434812

    Listing office LoKation 1500 E Atlantic Blvd B2, Pompano Beach, FL

    Listing date Mar 24, 2026

    MLS# 998799 Listing URL

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

    HighLights

    • Oceanfront lot with approved plans and permits for a 2,903 sq ft townhome
    • Concrete pilings are already in place, saving time and money
    • Includes architectural plans for a 6‑bedroom, 7.5‑bathroom townhome with a private pool
    • Builder willing to honor the current estimate
    • Allows for short‑term rentals, offering income potential
    • No HOA restrictions

    Overview

    This property features a 4,309 sq ft oceanfront lot located in Mexico Beach. It comes with fully approved civil and architectural plans and permits for a spacious 2,903 sq ft townhome. The plans include 6 bedrooms, 7.5 bathrooms, and approval for a private pool. Concrete pilings are already in place. The property allows for short-term rentals, presenting an opportunity for passive income. The property has no HOA restrictions. The builder is willing to honor the current estimate, facilitating a streamlined path to building an investment property or second home. The zoning is Resid Single Family.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Real Estate Agency Big Box & Wholesale Store Hair Salon Nail Salon Department Store Grocery & Convenience Store Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Mexico Beach
    County
    Gulf
    State
    Florida
    Longitude
    -85.423655
    Latitude
    29.949759

    Nearby Similar for Sale

    • $920,000

      Prime Tourist Commercial Land Opportunity

      Two commercial lots near Mexico Beach with development potential.
      2604 Hwy 98, Mexico Beach, FL 32456
      View Details
    • $3,599,000
      7,514 SF

      Luxury Duplex with Pool Amenities

      Rent-ready luxury duplex configured for large groups with multiple en-suite bedrooms and on-site recreation features.
      111 31st St, Mexico Beach, FL 32456
      View Details
    • $525,000
      1,012 SF

      Coastal Retreat Near Mexico Beach

      Professionally decorated, fully furnished 2-bedroom coastal retreat near the beach.
      101 42nd Street, Mexico Beach, FL 32456
      View Details
    • $2,650,000
      2,684 SF

      Canal Front Quad Plex Project

      Fully furnished, custom-built townhome with boat lift and canal access.
      100 42nd St, Mexico Beach, FL 32456
      View Details
    • $1,390,000
      2,048 SF

      Gulf View Multi-Family Property

      Two-story multi-family property with Gulf views and in-ground pool.
      108 Hwy 98, Mexico Beach, FL 32456
      View Details
    • $3,599,000
      7,514 SF

      Luxury Duplex with Heated Pool

      Rent-ready, fully furnished duplex configured for large groups with en-suite bedrooms and a heated cocktail pool.
      111 S 31st Street, Mexico Beach, FL 32456
      View Details
    • $2,500,000

      Prime Commercial Land Near Beach

      1.6-acre commercial land parcel near the beach in Mexico Beach.
      1032 15th St, Mexico Beach, FL 32456
      View Details
    • $739,900
      2,218 SF

      Mexico Beach Gulf View Duplex

      Duplex with gulf views, ideal for living or rental.
      717 Fortner Ave, Mexico Beach, FL 32456
      View Details
    • $949,000

      Beachfront Homesite in Mexico Beach

      Prime beachfront homesite with development potential in Mexico Beach, FL.
      817 Hwy 98, Mexico Beach, FL 32456
      View Details
    • $2,275,000

      Mexico Beach Development Opportunity

      6.22-acre land with plans for 39-unit complex.
      932 15th St, Mexico Beach, FL 32456
      View Details
    • $1,799,000

      Gulf Frontage Land in Mexico

      Rare Gulf front property with 101 feet of beachfront.
      107 26th St, Mexico Beach, FL 32456
      View Details
    • $520,000

      Beachside Land Lot Opportunity

      Beachside lot zoned for residential and commercial use.
      101 S 29th St lot: 1, Mexico Beach, FL 32456
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Prime oceanfront lot with approved plans for luxury townhome.
    Where is this residential land & home lot located?
    The property is located at 115 S 37th Street Mexico Beach, FL.
    What is the asking price?
    The asking price for this property is $835,000.
    What are key features of this property?
    This property features: Oceanfront lot with approved plans and permits for a 2,903 sq ft townhome; Concrete pilings are already in place, saving time and money; Includes architectural plans for a 6‑bedroom, 7.5‑bathroom townhome with a private pool
    (850) 816-8898
    We can help!
    Listing Contact
    James M Row
    Real Estate License ID: 3434812
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    115 S 37th Street, Mexico Beach, FL 32456
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!