Two-Unit Frame
For Sale
$269,000
720 22ND Avenue W, Bradenton, FL 34205
Residential Income, BRADENTON, FL
Property Size1,656 SF
Lot Size0.15 Acres
Price / SF$162.44
Days on Market108
Property Features for 720 22ND Avenue W
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R2B
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1
Interior features
Ceiling Fans(s)
Subdivision
OSCEOLA HEIGHTS
Directions
720 22nd Ave W, Bradenton, FL 34205, Manatee County
Standard status
Active
APN
4513300006
Size
1,656 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 16, BLK A OSCEOLA HEIGHTS PI#45133.0000/6
Legal Description
LOT 16, BLK A OSCEOLA HEIGHTS PI#45133.0000/6
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Zoned
Water source
Public
Building Details
Year built
1950
Building materials
Frame
Listing Agency:
WAGNER REALTY
(941) 955-1500
Listed By:
Austin Oakes · License #3631068
(646) 630-0923
Added: May 14
Changed: Aug 20
Last Checked: Aug 29 at 3:06PM
MLS# A4693697
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 1,656-square-foot duplex contains two leased residences, each arranged with one bedroom and one bathroom. The frame-built property dates to 1950 and is described in overall good cosmetic condition. Brand-new mini-split AC/heat systems provide zoned electric heating and cooling, while ceiling fans supplement the interior setup.
The property occupies 0.15 acres at 720 22ND Avenue W in Bradenton, Florida, within R2B zoning. Public water and public sewer serve the site. Both units are leased, and the owner pays the water service. The building was tented in 2025.
The property occupies 0.15 acres at 720 22ND Avenue W in Bradenton, Florida, within R2B zoning. Public water and public sewer serve the site. Both units are leased, and the owner pays the water service. The building was tented in 2025.
Key Highlights
- Two leased units, each with 1 bedroom and 1 bathroom
- 1,656 square feet on a 0.15‑acre lot
- Brand‑new mini‑split AC/heat systems installed
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
$21,754
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
8.09%
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%
$435,080
$435.1K
Cap Rate 7%
$310,771
$310.8K
Cap Rate 9%
$241,711
$241.7K
Market Conditions
NOI Build-Up for 1,656 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
$32.8K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$31.1K $18.77/SF
− OpEx
−$9.3K −$5.63/SF
NOI
$21.8K $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%
$435,080
Cap Rate 7%
$310,771
Cap Rate 9%
$241,711
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$271.9K – $362.6K
NOI $21,754 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$286.2K
$250.5K – $334.0K
NOI $20,037 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$487.0K
$426.1K – $568.1K
NOI $34,088 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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?
Duplex - Leased duplex with matching one-bedroom, one-bath residences and newly installed mini-split heating and cooling systems.
Where is this duplex located?
The property is located at 720 22ND Avenue W Bradenton, FL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two leased units, each with 1 bedroom and 1 bathroom; 1,656 square feet on a 0.15‑acre lot; Brand‑new mini‑split AC/heat systems installed
