$749,000

About this home

Wake up to the sound of waves, salty Gulf breezes, and uninterrupted blue horizons—this top-floor beachfront penthouse is where the Florida dream becomes reality. Welcome to 12924 Gulf Blvd #502, perched high above the sugar-sand shoreline in Madeira Beach at Sandy Shores Condominiums. Whether you’re searching for a personal coastal escape, a proven income producer, or a smart 1031 exchange opportunity, this residence delivers on every front. From the moment you step inside, your eyes are drawn to sweeping, unobstructed views of the Gulf. The open-concept living space is filled with natural light and framed by hurricane-impact windows, creating a bright, airy atmosphere that feels both relaxed and refined. The updated kitchen features custom wood cabinetry, quartz countertops, and stainless steel appliances, perfectly positioned for effortless entertaining or quiet evenings after a day at the beach. The one-bedroom, one-bath layout is thoughtfully designed and sold fully furnished, including linens, cookware, and décor—truly turnkey for immediate enjoyment by you or your guests. Step outside and take advantage of resort-style amenities including a heated beachfront pool, grilling area, tiki hut, and convenient bicycle storage—all just steps from the sand. This property shines not only as a lifestyle purchase, but as a high-performing investment. Zoned for short-term rentals with no restrictions on owner use, the unit generated $73,000 in rental income in 2024 (despite storm-related booking disruptions) and $71,000 in 2025, making it a standout opportunity in a highly desirable market. Peace of mind comes standard here. The building has completed all required structural integrity inspections and reserve studies, boasts fully funded reserves, and has undergone significant recent improvements including upgraded balconies, resurfaced pool and parking lot, and a backup generator—rare and valuable features for a beachfront condominium. Location elevates everything. Situated directly on the beach and just steps from John’s Pass Village & Boardwalk, you’ll enjoy unmatched walkability to waterfront restaurants, boutique shops, fishing charters, boat rentals, dolphin tours, and live entertainment. St. Pete, Clearwater Beach, and Tampa are all an easy drive away, keeping this condo in constant demand with visitors year-round. This is more than a condo—it’s a proven income-producing beachfront penthouse in one of Florida’s most beloved coastal destinations. Opportunities like this are rare. Schedule your private showing and experience it for yourself.

Highlights

Property details

MLS

Stellar MLS

MLS #

MFRTB8473441

Property type

Condominium

Subdivision

SANDY SHORES CONDO

Status

Active

Days on market

54

On market date

February 6, 2026

Stories

N/A

Total bathrooms

1

Garage spaces

N/A

Parking spaces

N/A

Lot size

0.92 acres

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.