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    Income-Producing Condo in Crystal Palms Title is generated by Realmo AI

    11605 GULF Blvd 506, Treasure Island, FL 33706

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    For Sale
    $519,000

    Turnkey, fully furnished condo with Gulf views and rental income.

    Type:Commercial
    Added:
    Apr 24, 2026
    Days on Market:
    36
    Last Refresh:
    Apr 24 at 5:48 pm

    Property Features for 11605 GULF Blvd 506

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    2008

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    Listing Contact
    Jill Helgren
    Jill Helgren

    Listing agent Jill Helgren License #3230873

    Listing office Coastal Properties Group International, LLC

    Listing date Apr 24, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Coastal Properties Group International, LLC

    HighLights

    • Proven income‑producing property with established rental history and potential for high rental income.
    • Turnkey, fully furnished condo managed by a top‑rated vacation rental company (iTrip).
    • Enjoy Gulf views from a private, covered balcony.
    • Desirable resort amenities including a heated outdoor pool, spa, and assigned under‑building parking.
    • Located in a prime beachside location near John's Pass Village, downtown St. Petersburg, and beaches.
    • Two bedrooms, two baths, sleeps six, with en‑suite bathrooms and granite countertops.

    Overview

    Located on the fifth floor of the Crystal Palms Beach Resort in Treasure Island, Florida, Unit 506 is a two-bedroom, two-bath condo offering both comfort and functionality. The condo is fully furnished and managed by iTrip, a vacation rental company. The layout sleeps six with a hide-a-bed in the living room. The bedrooms feature laminate flooring, while the main living spaces have tile. The kitchen includes granite countertops and stainless steel appliances. Both bedrooms have en-suite bathrooms, with the primary suite providing balcony access and a separate vanity area. The private, covered balcony offers Gulf views. Crystal Palms Beach Resort amenities include a heated outdoor pool and spa with tropical landscaping, assigned under-building parking, and storm-rated construction. With one-night minimum rental restrictions, Unit 506 offers flexibility. The property is suitable for a 1031 exchange, a second home, or an investment property. The location is near John's Pass Village, downtown St. Petersburg, international airports, and beaches. The bike score is 26, indicating it is somewhat bikeable, and the walk score is 14, indicating it is car-dependent.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Treasure Island
    County
    Pinellas
    State
    Florida
    Longitude
    -82.7422
    Latitude
    27.7254

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    FAQs

    What type of property is this?
    Short term rental property - Turnkey, fully furnished condo with Gulf views and rental income.
    Where is this short term rental property located?
    The property is located at 11605 GULF Blvd 506 Treasure Island, FL.
    What is the asking price?
    The asking price for this property is $519,000.
    What are key features of this property?
    This property features: Proven income‑producing property with established rental history and potential for high rental income.; Turnkey, fully furnished condo managed by a top‑rated vacation rental company (iTrip).; **Enjoy Gulf views from a private, covered balcony.**
    (727) 455-5814
    We can help!
    Listing Contact
    Jill Helgren
    Jill Helgren
    Real Estate License ID: 3230873
    Learn More
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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.

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    11605 GULF Blvd 506, Treasure Island, FL 33706
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