Four-Unit Multifamily
For Sale
Under Contract
$524,900
3917 ROYAL PALM Avenue, Sarasota, FL 34234
Residential Income, SARASOTA, FL
Property Size2,962 SF
Lot Size0.40 Acres
Price / SF$177.21
Days on Market57
Property Features for 3917 ROYAL PALM Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
NT
Bedrooms
3
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bathroom 2
Interior features
Ceiling Fans(s)
Exterior features
Fence
Fencing
Fenced
Subdivision
MARLOWE PARK
Directions
Directions from Sarasota Bradenton International Airport (SRQ) to 3917 Royal Palm Ave: Exit the airport onto University Parkway heading west toward US-41. Turn left (south) onto US-41 / N Tamiami Trail and continue about 2.5 miles through the North Trail corridor. Turn left (east) onto Royal Palm Ave (a residential street off the Trail in the 34234 / North Trail area). 3917 Royal Palm Ave is just ahead on your right, with 3919 immediately adjacent.
Standard status
Active Under Contract
APN
2004100001
Size
2,962 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BEG NE COR TRACT 2 TH S 100 FT TH W 175.8 FT TH N 99.96 FT TH E 173.4 TO POB BEING PART OF TRACT 2 MARLOWE PARK
Tax Annual Amount
7574
Legal Description
BEG NE COR TRACT 2 TH S 100 FT TH W 175.8 FT TH N 99.96 FT TH E 173.4 TO POB BEING PART OF TRACT 2 MARLOWE PARK
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1953
Building materials
Block
Roof type
Shingle
Listing Agency:
HARRY ROBBINS ASSOC INC
(941) 924-8346
Listed By:
Emerson Robbins · License #3519461
(941) 404-0382
Added: Jul 21
Changed: Sep 12
Last Checked: Sep 15 at 3:06PM
MLS# A4700635
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.
Investment Insights
Based on property information with market context.
This 2,962-square-foot quadplex contains four rental residences on a 0.40-acre parcel. The 3917 address includes one 1BR/1BA unit and two efficiencies, while 3919 contains a two-bedroom-plus-bonus home. Each residence is leased month to month, providing a flexible occupancy structure. The 3919 residence also includes a carport and paved patio.
Constructed in 1953, the property has block construction, a shingle roof, fencing, public water, and public sewer. Recent system updates include a roof replacement serving the 3917 units within the last five years, three water heaters installed at 3917 in 2023, a 2022 AC air handler in Unit A, and newer air-conditioning and water-heating equipment at 3919. The parcel is in Sarasota's North Trail corridor and carries NT zoning, with the property address at 3917 Royal Palm Avenue.
Constructed in 1953, the property has block construction, a shingle roof, fencing, public water, and public sewer. Recent system updates include a roof replacement serving the 3917 units within the last five years, three water heaters installed at 3917 in 2023, a 2022 AC air handler in Unit A, and newer air-conditioning and water-heating equipment at 3919. The parcel is in Sarasota's North Trail corridor and carries NT zoning, with the property address at 3917 Royal Palm Avenue.
Key Highlights
- Four rental residences totaling 2,962 square feet
- 0.40‑acre parcel measuring 17,555 SF
- Unit mix includes one 1BR/1BA, two efficiencies, and one 2BR‑plus‑bonus home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,910
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,200
$778.2K
Cap Rate 7%
$555,857
$555.9K
Cap Rate 9%
$432,333
$432.3K
Market Conditions
NOI Build-Up for 2,962 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.6K $19.80/SF
− Vacancy
−$3.1K −$1.03/SF
EGI
$55.6K $18.77/SF
− OpEx
−$16.7K −$5.63/SF
NOI
$38.9K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$778,200
Cap Rate 7%
$555,857
Cap Rate 9%
$432,333
Alternative Uses
Best Use
Multifamily LT 5
$555.9K
$486.4K – $648.5K
NOI $38,910 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$512.0K
$448.0K – $597.3K
NOI $35,840 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$871.0K
$762.2K – $1.02M
NOI $60,972 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
500
Businesses Nearby
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Month-to-month rentals include efficiency, one-bedroom, and two-bedroom layouts.
Where is this quadplex located?
The property is located at 3917 ROYAL PALM Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Four rental residences totaling 2,962 square feet; 0.40‑acre parcel measuring 17,555 SF; Unit mix includes one 1BR/1BA, two efficiencies, and one 2BR‑plus‑bonus home
