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    Triplex in Rosemary District, Sarasota Title is generated by Realmo AI

    420 KUMQUAT COURT, Sarasota, FL 34236

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    For Sale
    $1,525,000

    Triplex - SARASOTA, FL

    Type:Triplex
    Property size:
    1,824 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $836/SF
    Added:
    Apr 8, 2026
    Days on Market:
    57
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 420 KUMQUAT COURT

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Triplex
    Zoning
    DTE
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Parking features
    Driveway, Open
    Security features
    Smoke Detector(s)
    Pets allowed
    Cats OK, Dogs OK
    Interior features
    Split Bedroom, Vaulted Ceiling(s), Walk-in Closet(s), Window Treatments
    Exterior features
    Paved, Lighting
    Appliances
    Dishwasher, Freezer, Microwave, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    2026110096
    Size
    1,824 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    7860

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Multi Units, Wall/Window Unit(s), Window Unit(s)

    Building Details

    Year built
    1981
    Number of units
    3
    Flooring type
    Carpet, Laminate, Tile
    Building materials
    Stucco
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Frank Lambert
    Frank Lambert

    Listing agent Frank Lambert License #0345242

    Listing office PREMIER SOTHEBY'S INTERNATIONAL REALTY 50 Central Ave Suite 110, Naples, FL

    Listing date Apr 8, 2026

    MLS# A4689791 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.

    HighLights

    • Zoned Downtown Edge (DTE) allowing for residential, commercial, or mixed‑use development.
    • Existing triplex generates over $5,000/month in potential rental income for immediate cash flow.
    • Opportunity to acquire neighboring parcel for increased density, potentially up to 24 residential units (subject to approvals).
    • Seller can transfer plans for a seven‑unit condominium project designed by award‑winning Halflants + Pichette.
    • Located in the Rosemary District, within six blocks of numerous restaurants, Sarasota Farmers Market, Sarasota Bayfront, Whole Foods, and the arts/theater district.
    • Close proximity to The Bay Park, Payne Park, and Legacy Trail; enhanced connectivity via the Bay Runner Trolley.

    Overview

    Located in the Rosemary District, this property features an existing triplex generating over $5,000 per month in potential rental income. Zoned Downtown Edge (DTE), the site allows for residential, commercial, or mixed-use development. The property is adjacent to a newly constructed five-story mixed-use condominium with 24 residences. An additional opportunity exists with the neighboring parcel to the south, which is also available. With a combined acquisition, there is potential to develop up to 24 residential units, subject to municipal approvals. The seller can also transfer plans for a seven-unit condominium project. Positioned within approximately six blocks of more than 60 restaurants, Sarasota Farmers Market, Sarasota Bayfront, Whole Foods Market, and Sarasota’s arts and theater district, the location supports strong walkability and long-term demand. The Bay Park, a 53-acre waterfront park, is approximately four blocks away, with additional access to Payne Park and Legacy Trail. Connectivity is enhanced by the Bay Runner Trolley, offering service from downtown to St. Armands Circle and Lido Beach. The property size is 1824 square feet and the lot size is 0.14 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.539267
    Latitude
    27.340075

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    FAQs

    What type of property is this?
    Triplex - Triplex with development potential in downtown Sarasota's Rosemary District.
    Where is this triplex located?
    The property is located at 420 KUMQUAT COURT Sarasota, FL.
    What is the asking price?
    The asking price for this property is $1,525,000.
    What are key features of this property?
    This property features: Zoned Downtown Edge (DTE) allowing for residential, commercial, or mixed‑use development.; Existing triplex generates over $5,000/month in potential rental income for immediate cash flow.; Opportunity to acquire neighboring parcel for increased density, potentially up to 24 residential units (subject to approvals).
    (941) 920-1500
    We can help!
    Listing Contact
    Frank Lambert
    Frank Lambert
    Real Estate License ID: 0345242
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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
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