Stunning Palm Beach Home Near Mar-a-Lago Hits Market for $12.5 Million
A home located near President Donald Trump’s Mar-a-Lago estate in Palm Beach, Florida, has recently been listed for sale at an astounding $12.5 million—32 times higher than its purchase price of $385,000 in 1981.
Significance of the Area
Mar-a-Lago serves as a frequent gathering spot for Trump, his family, and close associates, especially since his presidency began. The estate has become an essential hub for events, drawing sizable crowds and interest in the surrounding neighborhood.
Property Highlights
- Location: Algoma Road, Palm Beach, FL
- Asking Price: $12.5 million
- Original Purchase Price: $385,000 (1981), equivalent to approximately $1.3 million today based on inflation
- Property Size: 2,493 square feet on a third of an acre
- Bedrooms/Bathrooms: 4 Bedrooms, 4 Bathrooms
- Construction Year: 1952
- Lot Size: Approximately 14,300 square feet
- Features: Private pool, close proximity (250 feet) to deeded beach access
According to Zillow, the listing boasts that this property provides a unique island lifestyle paired with an elite level of privacy, all within minutes of the best shopping, dining, and entertainment options Palm Beach has to offer.
Exclusive Security Measures
As the property resides within the Presidential Security Zone overseen by the U.S. Coast Guard, it benefits from heightened security measures. Federal regulations define this zone to ensure the safety of the president and others under Secret Service protection.
“The Coast Guard will enforce security measures only when the President of the United States or other protected individuals are present,” according to official regulations.
Financial Insights
The estimated monthly payment for potential buyers would exceed $88,000. However, Zillow suggests that the home may actually sell between $5.2 million and $7.8 million. Current rent estimates stand at $42,861. In the past several months, six properties in the Mar-a-Lago security sector have been sold for prices ranging from $12 million to $27.5 million.
Agent Remarks
Margit Brandt, an agent with Premier Estate Properties, emphasized the uniqueness of this listing:
“The property at 112 Algoma is the only dry lot available in Palm Beach’s Estate Section and the only one in the presidential security zone adjacent to Mar-a-Lago. This presents a special opportunity for buyers to build their dream home in one of the world’s most sought-after locations.”
Conclusion
This striking real estate listing exemplifies the allure of residences near influential figures and the premium prices that such proximity can command. With its exceptional features and significant investment potential, this property is an attractive opportunity for discerning buyers.