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    618 Avenida De Mayo Sarasota, FL 34242

    Sponsored
    For Sale
    $1,399,000

    Quadruplex - SARASOTA, FL

    Type:Quadruplex
    Property size:
    2,961 SF
    Lot size:
    0.15 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 21 at 4:06 pm

    Property Features for 618 Avenida De Mayo

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    RSF3
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    6
    APN
    0082030054
    Interior features
    Ceiling Fans(s), Eat-in Kitchen
    Exterior features
    Outbuildings, Courtyard, Fence
    Fencing
    Fenced
    Size
    2,961 SF
    Lot size
    0.15 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1948
    Number of units
    4
    Building materials
    Block
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Lisa Blakeley

    BLAKELEY & ASSOCIATES REALTY (941) 567-3100

    Listing agent Lisa Blakeley (941) 567-3100 License #3243719

    Listing date Feb 20, 2026

    MLS# A4680244 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

    Siesta Key Quadruplex Opportunity

    Located approximately three blocks behind Siesta Key Village, this property features a triplex and a cottage. Originally a 1940s bungalow home, it was converted into a triplex approximately 40 years ago, with the addition of a cottage at the rear of the property around 20 years ago. The property offers several private patios and open areas for outdoor entertainment and relaxation in both the front and rear of the triplex. Each rental has storage units, and there is a shared laundry area in the middle of the backyard. The location provides convenient access to the beach and the village, both within a 15-minute walk. The units have been long-term rentals for the past 20 years, with tenants expressing interest in continuing their residency. The property is located in Siesta Key, known for its white powdery sand beaches and proximity to Sarasota's attractions, including arts, St Armands, and shopping. The 0.15-acre lot contains a 2,961 square foot property. The property is zoned RSF3. One potential option involves maintaining the triplex as long-term rentals while utilizing the rear cottage as an Airbnb and owner's unit, which could significantly alter the income stream. The property presents an opportunity for both income generation and personal enjoyment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sarasota
    County
    Manatee
    State
    Florida
    Longitude
    -82.558224
    Latitude
    27.275871

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    FAQs

    What type of property is this?
    Quadplex - Quadruplex near Siesta Key Village with income potential.
    Where is this quadplex located?
    The property is located at 618 Avenida De Mayo Sarasota, FL.
    What is the asking price?
    The asking price for this property is $1,399,000.
    What are key features of this property?
    This property features: - Prime Siesta Key location: Walk to the beach and Siesta Key Village.; - Income-generating triplex with additional cottage, offering potential for increased rents.; - Flexible usage options: Use the cottage as an Airbnb or owner's unit.
    (941) 567-3100
    Request Owner's contact information
    618 Avenida De Mayo Sarasota, FL 34242
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    Sarasota, FL 34242
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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
    618 Avenida De Mayo Sarasota, FL 34242
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    We can help!
    Listing Contact
    Lisa Blakeley
    Real Estate License ID: 3243719
    (941) 567-3100 (941) 809-1647
    Learn more
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