Waterfront Triplex
For Sale
$875,000
18207 GULF Boulevard, Redington Shores, FL 33708
Residential Income, REDINGTON SHORES, FL
Property Size2,406 SF
Lot Size0.20 Acres
Price / SF$363.67
Days on Market428
Property Features for 18207 GULF Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM-15
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Laundry Room, Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 8, Bedroom 8, Bedroom 2, Bedroom 6, Bathroom 6, Bathroom 2, Bedroom 4, Bedroom 7, Bathroom 7, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 5
Exterior features
Lighting, Sidewalk
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
31-30-15-88470-000-0090
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
Legal 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
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
Changed: Oct 24
Last Checked: Nov 3 at 3:06AM
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.
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Investment Insights
Based on property information with market context.
This 0.2-acre waterfront property sits along the Intracoastal Waterway at 18207 Gulf Boulevard in Redington Shores. The site contains two buildings totaling 2,406 square feet: a 1939 single-family residence with three bedrooms and three bathrooms, plus a 1974 block duplex.
Both structures sustained flood damage during a recent hurricane. The single-family residence has been gutted, while the duplex has undergone remediation and is mostly renovated, with cabinetry still needed. Existing improvements include central heating and cooling, block and concrete construction with stucco, shingle roofing, public water, and public sewer. RM-15 zoning is in place, and the property has been identified for possible redevelopment as a single-family home, two townhomes, or three rental units.
Both structures sustained flood damage during a recent hurricane. The single-family residence has been gutted, while the duplex has undergone remediation and is mostly renovated, with cabinetry still needed. Existing improvements include central heating and cooling, block and concrete construction with stucco, shingle roofing, public water, and public sewer. RM-15 zoning is in place, and the property has been identified for possible redevelopment as a single-family home, two townhomes, or three rental units.
Key Highlights
- 0.2‑acre waterfront site directly on the Intracoastal Waterway
- Two buildings totaling 2,406 square feet
- RM‑15 zoning with public water and public sewer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,084
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$561,680
$561.7K
Cap Rate 7%
$401,200
$401.2K
Cap Rate 9%
$312,044
$312.0K
Market Conditions
NOI Build-Up for 2,406 SF
Gross rent
$43.0K $17.88/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$40.1K $16.67/SF
− OpEx
−$12.0K −$5.00/SF
NOI
$28.1K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$561,680
Cap Rate 7%
$401,200
Cap Rate 9%
$312,044
Alternative Uses
Best Use
Multifamily LT 5
$401.2K
$351.1K – $468.1K
NOI $28,084 @ 7.0% cap · market cap 3.21%
Second Best
Apartment 5plus
$316.1K
$276.6K – $368.8K
NOI $22,128 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$625.8K
$547.6K – $730.1K
NOI $43,807 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Flood-damaged structures occupy an RM-15 site with public water and sewer service for redevelopment planning.
Where is this multifamily property located?
The property is located at 18207 GULF Boulevard Redington Shores, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 0.2‑acre waterfront site directly on the Intracoastal Waterway; Two buildings totaling 2,406 square feet; RM‑15 zoning with public water and public sewer
