Building Details

Building Size 720 SF

Year Built 1958

Listed By: Brittany Belcher Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Oct 14 Last Checked: Oct 16 at 10:49AM

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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 Brittany Belcher

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Investment Insights

Based on property information with market context.

Located in Highland Beach, this oceanfront coop features one bedroom and one bathroom. It is situated within a boutique building containing only nine residences. The property includes a private patio with views of the Atlantic Ocean. Residents have access to a community tiki hut and pool, with direct access to the shoreline. The residence is pet-friendly, allowing one pet up to 25 lbs, and offers flexible leasing options. The Delray Sands Hotel, offering upscale dining, is located nearby. Additionally, the shops and restaurants of Atlantic Avenue in Delray Beach are a short drive away.

Key Highlights

• Direct oceanfront location with private patio and sunrise views
• Exclusive boutique building with only nine residences
• Steps to pristine pool and sandy beach

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,073

Cap Rate

3.21%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$221,460 $221.5K

Cap Rate 7%

$158,186 $158.2K

Cap Rate 9%

$123,033 $123.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 720 SF

Gross rent

$21.1K $29.28/SF

− Vacancy

−$949 −$1.32/SF

EGI

$20.1K $27.96/SF

− OpEx

−$9.1K −$12.58/SF

NOI

$11.1K $15.38/SF

Area

Palm Beach County, FL

Vacancy

4.50%

Lease Rate

$29.28 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$221,460

Cap Rate 7%

$158,186

Cap Rate 9%

$123,033

Alternative Uses

Best Use

Apartment 5plus

$158.2K

$138.4K – $184.6K (±1% cap)

NOI $11,073 @ 7.0% cap · market cap 3.21%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$507.1K

$443.7K – $591.6K (±1% cap)

NOI $35,495 @ 7.0% cap · market cap 10.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Apartment buildings

Location Intelligence

Trade Area within ½ mile

1,113

Businesses Nearby

Explore this area Business Placement

Demographics for 33487, FL

20,644

Population

13,644

Households

1.5

Avg Household Size

53

Median Age

60%

College-Educated

97%

High-School Grad

6.7 sq mi

ZIP Area

3,081

Density / Sq Mi

$93,816

Median Household Income

$48,927

Median Earnings

$2,382

Median Rent

$573,100

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Apartment building - Charming 1-bedroom coop with ocean views and beach access.

Where is this apartment building located?

The property is located at 2711 S Ocean 0020 Blvd 2 Highland Beach, FL.

What is the asking price?

The asking price for this property is $345,000.

What are key features of this property?

This property features: Direct oceanfront location with private patio and sunrise views; Exclusive boutique building with only nine residences; Steps to pristine pool and sandy beach