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    Waterfront Condo in 55+ Community Title is generated by Realmo AI

    4001 S Ocean Boulevard, South Palm Beach, FL 33480

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    For Sale
    $157,000

    MULTI_FAMILY - South Palm Beach, FL

    Property size:
    584 SF
    Price / SF:
    $268/SF
    Added:
    May 12, 2026
    Days on Market:
    21
    Last Refresh:
    Jun 1 at 6:06 pm

    Property Features for 4001 S Ocean Boulevard

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-2 (city)
    Bedrooms
    1
    Bathrooms
    1
    Rooms
    Bathroom 1, Bedroom 1
    Parking
    1
    Parking features
    Open, Assigned
    Security features
    Security
    Window features
    Blinds, Drapes
    Interior features
    Built-in Features
    Exterior features
    Balcony, Storage
    Appliances
    Electric Water Heater, Range, Freezer, Electric Range, Ice Maker, Microwave, Oven, Refrigerator, Water Heater
    Standard status
    Active
    APN
    62434435300002180
    Size
    584 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    TROPICANA GARDENS INC APT 218
    Tax Annual Amount
    584
    Expense value
    150
    Expense
    Application Fee
    Expense freq.
    One Time

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Cooling system
    Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s), Ductless
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1958
    Floors in Building
    4
    Flooring type
    Wood, Tile, Tile - Ceramic
    Building materials
    CBS
    Roof type
    Rolled Hot Mop
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Sean Murphy

    Listing agent Sean Murphy License #3477555

    Listing office Illustrated Properties LLC 230 S Ocean Blvd., Palm Beach Gardens, FL

    Listing date May 12, 2026

    MLS# B26027819 Listing URL

    Copyright © 2026 BeachesMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Waterfront 55+ community with heated pool on the Intracoastal.
    • Enjoy the Intracoastal view from your balcony and ocean access across the street at Lantana Beach.
    • Bright kitchen featuring white quartz countertops and restored original wood cabinets, offering double or triple the counterspace of comparable units.
    • Impact glass throughout and updated bathroom with LED‑framed mirror and modern vanity.
    • Includes a large, separate storage locker and 1 assigned parking spot.
    • Convenient location near Lantana Beach, Eau Resort, Dune Deck Cafe, Plaza del Mar Shopping Center, and Lantana Nature Preserve.

    Overview

    This waterfront condominium at Tropicana Gardens offers maximization of space. The kitchen features white quartz countertops and restored wood cabinets from 1958. A desk area provides a workspace, or additional kitchen space. The unit includes an Intracoastal view from the balcony, impact glass throughout, wood flooring in the living area and bedroom, and tile in the kitchen. Natural light is complemented by recessed lighting, track lighting, and ceiling fan lights. The updated bathroom features an LED-framed mirror and modern vanity. The bedroom includes a vanity with chair. Each unit comes with a large, separate storage locker and one assigned parking spot. Tropicana Gardens is a 55+ community with a heated pool on the Intracoastal. The building has completed Milestone Inspections and is fully reserved. Community amenities include an elevator, common laundry, and bike storage. Located across the street from ocean access at Lantana Beach, the property is near The Eau Resort, Dune Deck Cafe, Plaza del Mar Shopping Center with Publix and restaurants Thaikyo and Art Basil, and Lantana Nature Preserve. The sidewalks are active with walkers, joggers, bikers, and shoppers.

    Local Financial Insights For Apartment 5plus

    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 $17.1k $29.28
    − Vacancy −$769 −$1.32
    EGI $16.3k $27.96
    − OpEx −$7.3k −$12.58
    NOI $9.0k $15.38
    584 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $128.3K
    $112.3K – $149.7K (±1% cap)
    NOI $8,982 @ 7.0% cap · market cap 5.72%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $411.3K
    $359.9K – $479.8K (±1% cap)
    NOI $28,790 @ 7.0% cap · market cap 18.34%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    South Palm Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.040368
    Latitude
    26.58669

    Nearby Similar for Sale

    • $99,000
      375 SF

      Renovated Studio Near the Ocean

      Ground-floor studio ready for renovation near Lantana Beach.
      4001 S Ocean Boulevard, South Palm Beach, FL 33480
      View Details
    • $750,000
      1,402 SF

      Renovated Oceanfront Seasonal Unit

      Luxurious oceanfront living with top-tier amenities.
      3546 S Ocean Boulevard 418, South Palm Beach, FL 33480
      View Details

    FAQs

    What type of property is this?
    Single family property - Intracoastal view, updated features, and community amenities.
    Where is this single family property located?
    The property is located at 4001 S Ocean Boulevard South Palm Beach, FL.
    What is the asking price?
    The asking price for this property is $157,000.
    What are key features of this property?
    This property features: Waterfront 55+ community with heated pool on the Intracoastal.; Enjoy the Intracoastal view from your balcony and ocean access across the street at Lantana Beach.; **Bright kitchen featuring white quartz countertops and restored original wood cabinets, offering double or triple the counterspace of comparable units.**
    (631) 796-1259
    We can help!
    Listing Contact
    Sean Murphy
    Real Estate License ID: 3477555
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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.

    More about this property
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