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    2233 Michele Dr Sarasota, FL 34231

    Sponsored
    For Sale
    $780,000

    Duplex - SARASOTA, FL

    Type:Duplex
    Property size:
    1,628 SF
    Lot size:
    0.25 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 2 at 8:06 pm

    Property Features for 2233 Michele Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Duplex
    Standard status
    Active
    Zoning
    RMF1
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    APN
    0086120019
    Parking features
    Driveway, Garage, Garage - Attached, On Street
    Interior features
    Ceiling Fans(s), Eat-in Kitchen, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Thermostat, Window Treatments
    Exterior features
    Corner Lot, Paved, Fence, Private Mailbox, Private Yard
    Fencing
    Fenced
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Refrigerator, Washer
    Size
    1,628 SF
    Lot size
    0.25 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Block
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Middleton
    Mark Middleton

    Compass (305) 851-2820

    Listing agent Mark Middleton (305) 851-2820 License #3377212

    Listing date Mar 2, 2026

    MLS# TB8453606 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

    Remodeled Duplex Near Siesta Key

    This fully remodeled Sarasota duplex is located in the desirable Phillippi Gardens neighborhood. The property has no HOA or CDD fees. It offers income potential and is located minutes from Siesta Key Beach. This multifamily property features two 2-bedroom, 1.5-bath units. Each unit includes an attached 1-car garage, private patio, screened lanai, and fenced backyard. The units have been upgraded with new flooring, renovated kitchens with modern cabinetry and countertops, and updated bathrooms. New stainless steel appliances, including washers and dryers, have been installed. The property also features new hurricane-impact windows and garage doors, plus updated plumbing and electrical systems. The property experienced no interior flooding during the 2024 storms. It is suitable for long-term rental income, Airbnb, or VRBO opportunities. The property is located approximately 10 minutes from Siesta Key Beach and 12 minutes to Siesta Key Village, and under 20 minutes to University Town Center. It is conveniently close to US-41, downtown Sarasota, waterfront dining, marinas, nightlife, and premier shopping. The property size is 1628 square feet and the lot size is 0.25 acres. The zoning is RMF1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.527192
    Latitude
    27.272906

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    FAQs

    What type of property is this?
    Duplex - Sarasota duplex with income potential near Siesta Key Beach.
    Where is this duplex located?
    The property is located at 2233 Michele Dr Sarasota, FL.
    What is the asking price?
    The asking price for this property is $780,000.
    What are key features of this property?
    This property features: - Fully remodeled duplex in desirable Phillippi Gardens with exceptional income potential and no HOA/CDD fees.; - Prime location: Minutes from Siesta Key Beach, Siesta Key Village, University Town Center, downtown Sarasota, and US-41.; - Turn-key investment property featuring two spacious 2-bedroom, 1.5-bath units, each with a 1-car garage, private patio, screened lanai, and fenced backyard.
    (727) 871-7653
    Request Owner's contact information
    2233 Michele Dr Sarasota, FL 34231
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    Sarasota, FL 34231
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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
    2233 Michele Dr Sarasota, FL 34231
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    We can help!
    Listing Contact
    Mark Middleton
    Mark Middleton
    Real Estate License ID: 3377212
    (727) 871-7653 (727) 798-4556 (305) 851-2820
    Learn more
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