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    210 Albee Rd W Nokomis, FL 34275

    View on Map
    Sponsored
    Pending
    $799,000

    Quadruplex - NOKOMIS, FL

    Type:Quadruplex
    Property size:
    4,608 SF
    Lot size:
    0.32 Acres
    Days on Market:
    20
    Last Refresh:
    Mar 12 at 7:06 pm

    Property Features for 210 Albee Rd W

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Pending
    Zoning
    RMF3
    APN
    0171100011
    Interior features
    Solid Surface Counters, Thermostat
    Exterior features
    Lighting, Sidewalk
    Size
    4,608 SF
    Lot size
    0.32 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1972
    Number of units
    4
    Building materials
    Concrete
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Marlin Yoder
    Marlin Yoder

    Harry E. Robbins Assoc. Inc (941) 921-5351

    Listing agent Marlin Yoder (941) 924-8346 License #3393617

    Listing date Feb 20, 2026

    MLS# A4673788 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Nokomis Multifamily Value-Add Opportunity

    This multifamily property in Nokomis, Florida, presents a value-add opportunity in a sought-after coastal location. The property features two concrete-block buildings on a 14,130 sq. ft. lot. The RMF-3 zoning allows for expansion to a total of six units. Currently, there are four units, a mix of two 2BD/2BA and two 3BD/2BA layouts. There is potential to create four 1 BD/1BA units through renovation or redevelopment. Recent capital improvements include new roofs, multiple AC systems, renovated kitchens, and full connection to public water and sewer in 2022. The property has durable concrete-block construction, potential in-unit laundry, patios/balconies, and central AC. The location provides high visibility and convenient access to Nokomis Beach, Venice Island, I-75, and major Sarasota employment centers. One of the two buildings has been fully renovated, leaving additional value-add potential through upgrades to the second building, as well as the ability to increase density under existing zoning. The property is located just off U.S. 41 (Tamiami Trail). The property size is 4,608 square feet, and the lot size is 0.32 acres. The property is intended for residential income purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nokomis
    County
    Sarasota
    State
    Florida
    Longitude
    -82.455805
    Latitude
    27.125113

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    FAQs

    What type of property is this?
    Quadplex - Coastal quadruplex with expansion potential in high-demand Nokomis market.
    Where is this quadplex located?
    The property is located at 210 Albee Rd W Nokomis, FL.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: - Value-add potential with RMF-3 zoning allowing expansion from four to six units in a high-demand coastal location.; - Recent capital improvements (new roofs, AC, renovated kitchens, public water/sewer) reduce near-term expenses and increase income potential.; - Below-market rents and 50% occupancy offer substantial immediate income upside.
    (941) 893-7406
    Request Owner's contact information
    210 Albee Rd W Nokomis, FL 34275
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    Nokomis, FL 34275
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    210 Albee Rd W Nokomis, FL 34275
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    We can help!
    Listing Contact
    Marlin Yoder
    Marlin Yoder
    Real Estate License ID: 3393617
    (941) 893-7406 (941) 924-8346
    Learn more
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