Sounds like a nice location as long as it's above the high water mark for hurricanes. If it's an established neighborhood and a nice building you should be fine. And if there's a Starbucks within walking distance, you're GOLD! Or if it's a little seedy but plenty of new construction/renovation going on, odds are the area is looking up.

Take a look at the neighborhood at different times of the day/week to get a good idea of the environment.