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    5060 Ocean Dr Riviera Beach, FL 33404

    For Sale
    $18,000,000
    Added:
    Dec 11, 2024
    Days on Market:
    365

    Property Features for 5060 Ocean Dr

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1966
    Units
    13

    HighLights

    • Oceanfront development opportunity on Singer Island, directly north of Palm Beach.
    • 1.115‑acre site with 138 feet of Atlantic Ocean frontage.
    • Existing three‑story, 13‑unit co‑op building (built 1966) on site.
    • Private beach access.
    • RM‑20 zoning allows for up to 20 units per acre, 1.30 FAR, and 200‑foot maximum height.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Gym & Fitness Accounting Firm Hotel & Motel Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Riviera Beach
    County
    Palm Beach
    State
    Florida
    Longitude
    -80.0325532
    Latitude
    26.7999315

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    FAQs

    Where is this specialty property located?
    The property is located at 5060 Ocean Dr Riviera Beach, FL.
    What is the asking price?
    The asking price for this property is $18,000,000.
    What are key features of this property?
    This property features: Oceanfront development opportunity on Singer Island, directly north of Palm Beach.; 1.115-acre site with 138 feet of Atlantic Ocean frontage.; Existing three-story, 13-unit co-op building (built 1966) on site.
    Request Owner's contact information
    5060 Ocean Dr Riviera Beach, FL 33404
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    Riviera Beach, FL 33404
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    Realmo Value Estimation

    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.

    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.

    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
    5060 Ocean Dr Riviera Beach, FL 33404
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