Five-Unit Apartment Building with
For Sale
$1,450,000
4001 GROVELAND Avenue, Sarasota, FL 34231
Residential Income, SARASOTA, FL
Property Size4,291 SF
Lot Size0.59 Acres
Price / SF$337.92
Days on Market131
Property Features for 4001 GROVELAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RMF2
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 8, Bathroom 1, Bathroom 4, Dining Room, Bedroom 3, Bedroom 4, Bedroom 9, Bedroom 1, Bedroom 6, Bedroom 7, Bathroom 5, Bathroom 3, Family Room, Bedroom 10, Bedroom 5, Bathroom 2, Bedroom 2
Patio and Porch features
Porch, Patio
Pool private
1
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s)
Exterior features
Lighting, Rain Gutters, Sidewalk
Appliances
Dishwasher, Dryer, Microwave, Range, Range Hood, Refrigerator, Washer
Subdivision
GROVE PARK
Lot features
In County, Paved
Elementary school
Wilkinson Elementary
Middle school
Brookside Middle
High school
Riverview High
Directions
From I-75 take exit 207 heading west on Bee Ridge Rd, then turn left onto Groveland Ave. The Units will be on the left.
Standard status
Active
APN
0072030032
Size
4,291 SF
Lot size
0.59 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
TH N 1/2 OF LOT 31 ALL OF LOTS 32 & 33 & TH S 1/2 OF LOT 34 BLK A GROVE PARK SUB
Tax Annual Amount
13014
Legal Description
TH N 1/2 OF LOT 31 ALL OF LOTS 32 & 33 & TH S 1/2 OF LOT 34 BLK A GROVE PARK SUB
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
heated and cooled swimming pool
screened patio room
tropical outdoor space
Building Details
Year built
1974
Flooring type
Tile - Ceramic
Building materials
Stucco
Roof type
Shingle
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Rachel Tritschler · License #3368249
(941) 993-5892
Added: Apr 27
Changed: Sep 2
Last Checked: Sep 4 at 6:06AM
MLS# A4691652
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 4,291-square-foot apartment building contains five 2-bedroom, 1-bath units on a 0.59-acre parcel. The property was built in 1974 and includes a private heated and cooled pool, screened patio room, paved parking, ceramic tile flooring, central heating and cooling, and in-unit appliances. Long-term tenants are currently in place, and the property can hold a motel or hotel license. Public water and sewer serve the building, with utilities individually metered.
Located in Sarasota approximately 4 miles from Siesta Key Beach, the property is identified as being outside a flood zone. Recent work includes exterior painting in 2024, remodeled kitchens in Units 2, 3, and 4 during 2024, updated bathrooms, roof replacement in 2014, and major plumbing replacement completed in 2009 and 2010. Blown-in roof insulation is also present.
Located in Sarasota approximately 4 miles from Siesta Key Beach, the property is identified as being outside a flood zone. Recent work includes exterior painting in 2024, remodeled kitchens in Units 2, 3, and 4 during 2024, updated bathrooms, roof replacement in 2014, and major plumbing replacement completed in 2009 and 2010. Blown-in roof insulation is also present.
Key Highlights
- Five 2‑bedroom, 1‑bath units in a 4,291‑square‑foot apartment building
- 0.59‑acre parcel with RMF2 zoning
- Private heated and cooled pool with screened patio room
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
$51,920
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
3.58%
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%
$1,038,400
$1.0M
Cap Rate 7%
$741,714
$741.7K
Cap Rate 9%
$576,889
$576.9K
Market Conditions
NOI Build-Up for 4,291 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
$99.9K $23.28/SF
− Vacancy
−$5.5K −$1.28/SF
EGI
$94.4K $22.00/SF
− OpEx
−$42.5K −$9.90/SF
NOI
$51.9K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,038,400
Cap Rate 7%
$741,714
Cap Rate 9%
$576,889
Alternative Uses
Best Use
Apartment 5plus
$741.7K
$649.0K – $865.3K
NOI $51,920 @ 7.0% cap · market cap 3.58%
Second Best
Hotel Hospitality
$235.9K
$206.4K – $275.2K
NOI $16,510 @ 7.0% cap · market cap 1.14%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,329 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - RMF2-zoned multifamily property with individually metered utilities and public water and sewer.
Where is this apartment building located?
The property is located at 4001 GROVELAND Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Five 2‑bedroom, 1‑bath units in a 4,291‑square‑foot apartment building; 0.59‑acre parcel with RMF2 zoning; Private heated and cooled pool with screened patio room
