14135 PALM ST, MADEIRA BEACH, FL, 33708
$1,300,000
Commercial Sale
|
Living Area
2,908 Sqft
|
Lot Size
5,031 Sqft
|
Located in the heart of Madeira Beach just one block from the Gulf beaches, 14135 Palm Street presents a rare opportunity to acquire a fully updated 5-unit income-producing property in one of the most desirable beach communities along Florida?s Gulf Coast. This solid block construction 5-plex consists of five well-designed 1-bedroom, 1-bathroom units with ample on-site parking, offering strong appeal to both long-term and seasonal tenants. What truly sets this property apart is its extensive hurricane-resilient construction and post-storm preparedness improvements. The building successfully withstood the major storms of 2024, demonstrating the quality and durability of the upgrades completed. Improvements include waterproof stucco interior wall systems, durable epoxy flooring throughout, elevated electrical connections, and water-resistant kitchen fixtures designed to minimize future storm vulnerability and maintenance concerns. In addition, the property features a newer roof and all restoration and improvement work has been fully permitted and completed, providing added confidence for investors and lenders alike.
The property offers flexible rental opportunities including annual rentals, seasonal leasing, workforce housing, or furnished beach rentals, creating multiple paths for maximizing income potential. With a projected CAP rate of approximately 7.5%, investors can benefit from both strong current cash flow and long-term appreciation in a highly supply-constrained beach market. Tenants will enjoy exceptional walkability and convenience. The property is located near Gulf Boulevard with easy access to the Pinellas Suncoast Transit Authority trolley and bus routes connecting residents to surrounding beach communities, downtown St. Petersburg, and area attractions. Nearby shopping, dining, and entertainment options include the popular John's Pass Village & Boardwalk, local restaurants, waterfront bars, grocery stores, marinas, and recreational activities including boating, fishing, and beach access. The location also provides convenient access to Treasure Island, Redington Beach, and the greater Tampa Bay area.
This is an outstanding opportunity to own a proven storm-resilient multifamily asset in a premier coastal location with strong rental demand, attractive projected returns, and lasting tenant appeal.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8516347 | Year Built: | 1947 | |
| Building Features: | Bathrooms, Kitchen Facility, Stone Counter | Construction Materials: | Concrete, Stucco | |
| Cooling: | Mini-Split Unit(s) | Country: | US | |
| County Or Parish: | Pinellas | Direction Faces: | West | |
| Flooring: | Epoxy | Foundation Details: | Slab | |
| Heating: | Other | Levels: | Two | |
| Listing Agreement: | Exclusive Right To Sell | Lot Features: | Flood Insurance Required, FloodZone, City Limits, Near Public Transit, Neighbourhood | |
| Occupant Type: | Tenant | Property Condition: | Completed | |
| Property Sub Type: | Multi-Family 5+ | Property Type: | Commercial Sale | |
| Road Frontage Type: | City Street | Road Responsibility: | Public Maintained Road | |
| Road Surface Type: | Asphalt | Roof: | Shingle | |
| Sewer: | Public Sewer | Showing Requirements: | Call Listing Agent 2, Call Before Showing, Call Listing Agent | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | BB/HS Internet Capable, Electricity Available, Public, Water Connected | |
| Water Source: | Public | |||
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