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16 Tropical Dr
About This Property
Build Your Dream Coastal Home – Steps from the Beach with private access.
Seize a rare opportunity to create a custom single-family residence just steps from the beach in the exclusive enclave of Ocean Ridge-known for its private beaches, low-density zoning, and strong redevelopment demand. This exceptional property offers the opportunity to take advantage of a great location, with a vision already in place. The home has been meticulously crafted to maximize the full potential of the lot, setting the stage for a stunning modern coastal retreat.
The property comes with fully approved architectural, landscape, and interior design plans worth over $100,000, saving you significant time, cost, and uncertainty. Skip the lengthy board approval process and bring your dream home to life immediately.
In addition to its single-family potential, the property also presents a compelling investment opportunity as there's an existing two family dwelling. With renovation, this offers flexibility for rental income or long-term portfolio growth.
Whether you're looking to build your dream home by the coast or capitalize on a high-yield investment, Ocean Ridge offers a rare combination of privacy, luxury, and proximity to Delray Beach, Boca Raton, and Palm Beach-making this a unique opportunity to step into a project with approvals already in place.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Mar 22, 2026 | Listed by United Realty Group Inc | $1,395,000 | |
| Listed by United Realty Group Inc | |||
| Apr 14, 2025 | Sold | ||
| Sold | |||
| Mar 3, 2025 | In contract | - | |
| In contract | |||
| May 16, 2024 | Listed by Hudson Realty Of The Plm Bchs | $1,550,000 | |
| Listed by Hudson Realty Of The Plm Bchs | |||
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Location, location! Beachside lot with existing multi-family residence which could be converted to single family or knocked down for new build. Lot is east of A1A with lushly landscaped grounds not 500 feet to the beach dune line! Buy now with potential income and create a new design with the existing structure or build new from scratch!
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| Jan 4, 2024 | Listed by Hudson Realty Of The Plm Bchs | $1,550,000 | |
| Listed by Hudson Realty Of The Plm Bchs | |||
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Birdsong by the Beach! This Garden House is centrally located on a lushly landscaped lot. Green-scape views through windows in all four directions allow for ample enjoyment of the many species of birds and butterflies that revel within the tropical foliage. This stout home was built on an elevated lot in 1970 and has always remained high and dry, though it sits 500 feet from the beach dunes. The two driveways (which provide ample off-street parking) as well as the garden pathway around the entire perimeter of the house consist of multi-colored bricks laid in a herring bone pattern. The smooth terrazzo floors, original to the house and never altered in any way, give easy transition from room to room. Steps from the pristine beach and the azure sea this Xanadu awaits!
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About Palm Beach Shore Acres South
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017