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    Renovated Studio Near the Ocean Title is generated by Realmo AI

    4001 S Ocean Boulevard, South Palm Beach, FL 33480

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    Claim this Listing
    For Sale
    $99,000

    MULTI_FAMILY - South Palm Beach, FL

    Property size:
    375 SF
    Price / SF:
    $264/SF
    Added:
    May 4, 2026
    Days on Market:
    29
    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)
    Bathrooms
    1
    Rooms
    Bathroom 1
    Parking
    1
    Parking features
    Assigned, Open
    Security features
    Security
    Window features
    Blinds
    Patio and Porch features
    Patio
    Appliances
    Range, Gas Range, Refrigerator
    Standard status
    Active
    APN
    62434435300001140
    Size
    375 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    TROPICANA GARDENS INC APT 114
    Tax Annual Amount
    1691
    Expense value
    150
    Expense
    Application Fee
    Expense freq.
    One Time

    Utilities

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

    Building Details

    Year built
    1958
    Floors in Building
    4
    Flooring type
    Vinyl, Laminate
    Building materials
    CBS, Stucco
    Roof type
    Rolled Hot Mop

    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 4, 2026

    MLS# B26024562 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

    • Under $100K on Palm Beach Island.
    • All‑new bathroom and freshly painted unit.
    • New water heater and demolition complete in kitchen, ready for renovation.
    • Ground‑floor unit with convenient assigned parking near patio entrance.
    • 55+ community with heated pool on the Intracoastal.
    • Great proximity to Lantana Beach, The Eau Resort, Plaza del Mar & Lantana Nature Preserve.

    Overview

    This ground-floor studio, located in the 55+ Tropicana Gardens community, is ready for renovation. The unit features a new bathroom, fresh paint, and a new water heater. Demolition in the kitchen is complete. The property includes an assigned parking spot near the patio entrance, which offers greenery and privacy. Tropicana Gardens is a co-op community with a heated pool on the Intracoastal. The community has passed Milestone Inspections and is fully reserved. The property is conveniently located near Lantana Beach, The Eau Resort, Plaza del Mar, and Lantana Nature Preserve, and is across the street from the Ocean. The property size is 375 square feet.

    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 $11.0k $29.28
    − Vacancy −$494 −$1.32
    EGI $10.5k $27.96
    − OpEx −$4.7k −$12.58
    NOI $5.8k $15.38
    375 SF · lease $29.28/SF/yr · vacancy 4.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $82.4K
    $72.1K – $96.1K (±1% cap)
    NOI $5,767 @ 7.0% cap · market cap 5.83%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $264.1K
    $231.1K – $308.1K (±1% cap)
    NOI $18,487 @ 7.0% cap · market cap 18.67%
    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
    -80.040001
    Latitude
    26.586617

    Nearby Similar for Sale

    • $157,000
      584 SF

      Waterfront Condo in 55+ Community

      Intracoastal view, updated features, and community amenities.
      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 - Ground-floor studio ready for renovation near Lantana Beach.
    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 $99,000.
    What are key features of this property?
    This property features: Under $100K on Palm Beach Island.; All‑new bathroom and freshly painted unit.; New water heater and demolition complete in kitchen, ready for renovation.
    (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.

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