Waterfront Redevelopment
18207 GULF Boulevard Redington Shores, FL 33708
18207 GULF Boulevard, Redington Shores, FL, 33708
$949,000
For Sale
$949,000
MULTI_FAMILY - REDINGTON SHORES, FL
Property Size2,406 SF
Lot Size0.20 Acres
Price / SF$394.43
Days on Market323
Property Features for 18207 GULF Boulevard
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Zoning
- RM-15
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bathroom 8, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 6, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 4, Bathroom 5, Laundry Room, Bedroom 8, Bathroom 7, Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 3
- Exterior features
- Lighting, Sidewalk
- Standard status
- Active
- APN
- 31-30-15-88470-000-0090
- Size
- 2,406 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- SURFSIDE SUB LOT 9 & THAT PART OF LOT 8 DESC BEG MOST S'LY COR OF "SD LOT 8 TH N32D06'30""W" "6.16FT TH N57D01'10""E 74FT" TH N75D23'E 30.69FT TO MOST E'LY COR OF SD LOT 8 TH S58D58'W 103.28FT TO POB
- Tax Annual Amount
- 16627
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
- Water front
- 1
Building Details
- Year built
- 1939
- Number of units
- 3
- Building materials
- Block, Concrete, Stucco
- Roof type
- Shingle
Listing agency
SMITH & ASSOCIATES REAL ESTATE
(727) 282-1788
Listed by
Chris Calhoon · License #3293399
(727) 542-9933
Added: Sep 2, 2025 Updated: Jul 20 at 8:39PM Checked: Jul 21 at 10:06AM
MLS# TB8423536
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a waterfront redevelopment lot on the intracoastal waterway in Redington Shores, Florida. The parcel includes two buildings that were flood damaged during a recent hurricane. A 1939 three-bedroom, three-bath single-family home has been gutted, while a 1974 block duplex has been remediated and is mostly renovated, with cabinetry being the primary remaining work.
The site sits directly on the intracoastal waterway, positioned within the RM-15 zoning designation. The listing also notes an adjacent property at 18205 Gulf Blvd that is an 8-unit apartment building available for sale by the same owners.
For buyers or developers seeking a redevelopment opportunity, the existing mix of improvements may support a range of residential plans depending on final design and permitting. Options referenced in the remarks include redevelopment as a single-family home, two townhomes, or three new rentals. The remediated duplex component may also be relevant for buyers looking to complete interior finishes and reintroduce a residential configuration rather than starting entirely from scratch.
The site sits directly on the intracoastal waterway, positioned within the RM-15 zoning designation. The listing also notes an adjacent property at 18205 Gulf Blvd that is an 8-unit apartment building available for sale by the same owners.
For buyers or developers seeking a redevelopment opportunity, the existing mix of improvements may support a range of residential plans depending on final design and permitting. Options referenced in the remarks include redevelopment as a single-family home, two townhomes, or three new rentals. The remediated duplex component may also be relevant for buyers looking to complete interior finishes and reintroduce a residential configuration rather than starting entirely from scratch.
Key Highlights
- Waterfront lot on the Intracoastal Waterway in Redington Shores.
- Redevelopment opportunity for single‑family home, townhomes, or rentals.
- Includes a remediated and partially renovated 1974 block duplex.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.0k | $17.88 |
| − Vacancy | −$2.9k | −$1.21 |
| EGI | $40.1k | $16.67 |
| − OpEx | −$12.0k | −$5.00 |
| NOI | $28.1k | $11.67 |
2,406 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$401.2K
$351.1K – $468.1K
NOI $28,084 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$316.1K
$276.6K – $368.8K
NOI $22,128 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$625.8K
$547.6K – $730.1K
NOI $43,807 @ 7.0% cap · market cap 4.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Intracoastal waterfront redevelopment site with flood-damaged structures, offering flexibility for single-family, townhomes, or rentals.
Where is this triplex located?
The property is located at 18207 GULF Boulevard Redington Shores, FL.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Waterfront lot on the Intracoastal Waterway in Redington Shores.; Redevelopment opportunity for single‑family home, townhomes, or rentals.; Includes a remediated and partially renovated 1974 block duplex.
