Intracoastal Waterfront Apartment
For Sale
$1,949,000
18205 GULF Boulevard, Redington Shores, FL 33708
Commercial Sale, REDINGTON SHORES, FL
Property Size6,021 SF
Lot Size0.23 Acres
Price / SF$323.70
Days on Market405
Property Features for 18205 GULF Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
SURFSIDE SUB
View
Water
Directions
Take I-275 south to Park Blvd/ Gandy exit - Head west on Park Blvd - turn south on Gulf Blvd - head south to address
Standard status
Active
APN
31-30-15-88470-000-0100
Size
6,021 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SURFSIDE SUB LOT 10
Tax Annual Amount
32530
Legal Description
SURFSIDE SUB LOT 10
Utilities
Cooling system
Central Air
Water front
1
Building Details
Year built
1972
Floors in Building
2
Building materials
Block, Concrete
Listing Agency:
SMITH & ASSOCIATES REAL ESTATE
(727) 282-1788
Listed By:
Patrick Calhoon · License #259869
(727) 319-6874
Added: Sep 2, 2025
Changed: Aug 24
Last Checked: Oct 11 at 10:06PM
MLS# TB8423471
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 6,021-square-foot apartment building contains eight units in a balanced mix of four 1br/1ba residences and four 2br/1ba residences. Each unit has been recently remodeled, while four are furnished. The property was built in 1972 with block and concrete construction, central air, and a new roof; all A/C units are under three years old.
Located at 18205 Gulf Boulevard in Redington Shores, the property occupies 0.23 acres directly along the intracoastal waterway. The apartments are currently operated under annual leases. The source information also identifies potential for rentals of at least thirty days, condo conversion, or combination with adjacent 18207 land for redevelopment, subject to applicable requirements.
Located at 18205 Gulf Boulevard in Redington Shores, the property occupies 0.23 acres directly along the intracoastal waterway. The apartments are currently operated under annual leases. The source information also identifies potential for rentals of at least thirty days, condo conversion, or combination with adjacent 18207 land for redevelopment, subject to applicable requirements.
Key Highlights
- 8‑unit apartment building directly on the intracoastal waterway
- Four 1br/1ba units and four 2br/1ba units
- All units recently remodeled; 4 are fully furnished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,376
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,107,520
$1.1M
Cap Rate 7%
$791,086
$791.1K
Cap Rate 9%
$615,289
$615.3K
Market Conditions
NOI Build-Up for 6,021 SF
Gross rent
$108.4K $18.00/SF
− Vacancy
−$7.7K −$1.28/SF
EGI
$100.7K $16.72/SF
− OpEx
−$45.3K −$7.52/SF
NOI
$55.4K $9.20/SF
Area
Pinellas County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,107,520
Cap Rate 7%
$791,086
Cap Rate 9%
$615,289
Alternative Uses
Best Use
Apartment 5plus
$791.1K
$692.2K – $922.9K
NOI $55,376 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,628 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 33708, FL
16,034
Population
13,211
Households
1.2
Avg Household Size
60
Median Age
44%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
4,716
Density / Sq Mi
$83,773
Median Household Income
$49,403
Median Earnings
$1,961
Median Rent
$463,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled multifamily property with furnished units, central air, and direct positioning along the intracoastal waterway.
Where is this apartment building located?
The property is located at 18205 GULF Boulevard Redington Shores, FL.
What is the asking price?
The asking price for this property is $1,949,000.
What are key features of this property?
This property features: 8‑unit apartment building directly on the intracoastal waterway; Four 1br/1ba units and four 2br/1ba units; All units recently remodeled; 4 are fully furnished
