533 JOHNS PASS AVENUE
About This Property
An extraordinary and irreplaceable waterfront opportunity, 533 Johns Pass Avenue presents a once-in-a-generation chance to create a true dream estate. This premier waterfront location has not been available for development in over 70 years, making it one of the most significant offerings in the Johns Pass area.
The property fronts wide open water along the main waterway channel with direct connection to the Gulf of Mexico, offering expansive water views, active boating scenery, and exceptional long-term value. The site consists of a 70' x 120' premier waterfront lot, ideally positioned along one of the Gulf Coast's most iconic boating corridors.
An existing 2,221 square foot concrete block structure currently occupies the property, providing flexibility for use, renovation, or redevelopment. Surrounded by substantial waterfront investment and luxury new construction, this offering is ideally suited for a custom luxury estate or high-end redevelopment project.
Just moments from beaches, marinas, Johns Pass Village, dining, and entertainment, this property combines an unmatched waterfront lifestyle with rarity, prestige, and enduring investment appeal.
Offered primarily for land value or luxury redevelopment, this is a legacy-level opportunity in a location that cannot be replicated.
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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%.
How much can I actually make?
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 20, 2026 | Sold | ||
| Sold | |||
| Feb 23, 2026 | In contract | - | |
| In contract | |||
| Feb 23, 2026 | Price Decreased |
$1,050,000
↓ $50K
(4.6%) | |
| Price Decreased | |||
| Feb 5, 2026 | Price Decreased |
$1,100,000
↓ $100K
(8.3%) | |
| Price Decreased | |||
| Jan 23, 2026 | Price Increased |
$1,200,000
↑ $100K
(9.1%) | |
| Price Increased | |||
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About Madeira Beach
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017