Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    578 Companion Way Longboat Key, FL 34228

    Sponsored
    For Sale
    $1,100,000

    Residential Multi Family, Other - Longboat Key, FL

    Property size:
    1,792 SF
    Lot size:
    0.19 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 15 at 12:06 pm

    Property Features for 578 Companion Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Size
    1,792 SF
    Lot size
    0.19 Acres

    Building Details

    Year built
    1963
    Architectural style
    Other

    We can help!

    Listing Contact
    Linh Pham
    Linh Pham

    NextHome, Inc

    Listing agent Linh Pham 9418934505,9412343597 License #SL3437743,PersonLicenseNumber

    Listing date Feb 12, 2026

    MLS# A4682264 Listing URL

    Copyright © 2026 NextHome, Inc. 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

    Longboat Key Duplex Opportunity

    This duplex is located in Longboat Key and features two separate addresses: 578 Companion Way and 580 Companion Way. The property includes two separate units, one with 2 bedrooms and 2 bathrooms, and another with 2 bedrooms and 1 bathroom. The units are offered fully furnished and feature updates throughout. These updates, completed in 2025, include a new roof, new AC systems, new water heaters, and all new appliances. Residents have optional access to Cedars East resort-style amenities, including a pool, fitness center, and tennis courts, for a small membership fee. The property is located steps from Gulf beaches and near dining and shopping at St Armands Circle, downtown Sarasota, golf courses, marinas, and cultural attractions. Vacation rentals are permitted, making this property suitable for investors, seasonal residents, or families looking to live in one unit and rent out the other. The lot size is 0.19 acres, and the property size is 1792 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Longboat Key
    County
    Manatee
    State
    Florida
    Longitude
    -82.66046906
    Latitude
    27.41607285

    Nearby Similar for Sale

    • $1,000,000

      Gulf-Front Condo on Longboat Key

      Updated two-bedroom condo with direct Gulf access and amenities.
      4325 Gulf Of Mexico Dr, Longboat Key, FL 34228
      View Details
    • $105,000

      Longboat Key Property with Access

      Property on Longboat Key with deeded beach access.
      96 Twin Shores Blvd, Longboat Key, FL 34228
      View Details
    • $300,000

      Harbourside Drive Specialty Property

      Specialty property available for sale in Longboat Key, Florida.
      2800 Harbourside Dr E-16, Longboat Key, FL 34228
      View Details
    • $90,000

      Longboat Key Specialty Property

      Specialty property available for sale in Longboat Key, Florida.
      73 Twin Shores Blvd, Longboat Key, FL 34228
      View Details
    • $425,000

      Gulf of Mexico Drive Property

      Property on Gulf of Mexico Drive for sale.
      5310 Gulf Of Mexico Dr, Longboat Key, FL 34228
      View Details

    FAQs

    What type of property is this?
    Duplex - Updated duplex near beaches, ideal for investors or families.
    Where is this duplex located?
    The property is located at 578 Companion Way Longboat Key, FL.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Steps from pristine Gulf beaches, offering the ultimate Longboat Key lifestyle.; - Two separate units (2 bed/2 bath & 2 bed/1 bath), ideal for rental income or multi-generational living.; - Fully furnished with high-quality updates throughout, including a new roof, AC systems, water heaters, and appliances (all new in 2025).
    (941) 900-6789
    Request Owner's contact information
    578 Companion Way Longboat Key, FL 34228
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    578 Companion Way
    Longboat Key, FL 34228
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    578 Companion Way Longboat Key, FL 34228
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Linh Pham
    Linh Pham
    Real Estate License ID: SL3437743,PersonLicenseNumber
    (941) 900-6789 (922) 337-2036
    Learn more
    Google sign-in failed. Please try again or use another login method.