Duplex with Ceramic
For Sale
$399,999
901 PADUA Court, Nokomis, FL 34275
Residential Income, NOKOMIS, FL
Property Size1,216 SF
Lot Size0.23 Acres
Price / SF$328.95
Days on Market480
Property Features for 901 PADUA Court
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RC
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 5
Parking features
Driveway
Appliances
Range, Refrigerator
Subdivision
VENICE BY-WAY
Directions
From Downtown Sarasota, head south on US-41 for about 17 miles, turn left onto Colonia Lane East, then right onto Padua Court-901 Padua Ct will be on your right in approximately 25 to 30 minutes, depending on traffic.
Standard status
Active
APN
0384100091
Size
1,216 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT 9 & E 1/2 OF LOT 10 BLK 69 VENICE BY WAY
Tax Annual Amount
1520
Legal Description
LOT 9 & E 1/2 OF LOT 10 BLK 69 VENICE BY WAY
Utilities
Utilities
Cable Available
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Number of units
2
Flooring type
Carpet, Tile - Ceramic
Building materials
Block
Roof type
Metal
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Yisbel Bera Damiron · License #258028645
(239) 265-5102
Added: May 9, 2025
Changed: Aug 26
Last Checked: Aug 31 at 12:06PM
MLS# O6307739
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 duplex contains 1,216 square feet on a 0.23-acre parcel in Nokomis. The property was built in 1957 with block construction, a metal roof, ceramic tile and carpet flooring, and a layout reflecting six bedrooms and three bathrooms. Appliance packages include ranges and refrigerators.
Heating is provided by ductless systems, while cooling is handled by wall or window units. The property includes driveway parking, cable availability, and public water service. It is located minutes from the beach, shopping, and dining, with RC zoning.
Heating is provided by ductless systems, while cooling is handled by wall or window units. The property includes driveway parking, cable availability, and public water service. It is located minutes from the beach, shopping, and dining, with RC zoning.
Key Highlights
- Duplex with 1,216 square feet of building area
- 0.23‑acre parcel zoned RC
- Six bedrooms and three bathrooms
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
$12,427
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
3.11%
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%
$248,540
$248.5K
Cap Rate 7%
$177,529
$177.5K
Cap Rate 9%
$138,078
$138.1K
Market Conditions
NOI Build-Up for 1,216 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
$19.7K $16.20/SF
− Vacancy
−$1.9K −$1.60/SF
EGI
$17.8K $14.60/SF
− OpEx
−$5.3K −$4.38/SF
NOI
$12.4K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /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%
$248,540
Cap Rate 7%
$177,529
Cap Rate 9%
$138,078
Alternative Uses
Best Use
Multifamily LT 5
$177.5K
$155.3K – $207.1K
NOI $12,427 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$158.2K
$138.4K – $184.6K
NOI $11,074 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$345.6K
$302.4K – $403.2K
NOI $24,192 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 34275, FL
20,570
Population
13,139
Households
1.6
Avg Household Size
63
Median Age
43%
College-Educated
97%
High-School Grad
25.7 sq mi
ZIP Area
800
Density / Sq Mi
$84,503
Median Household Income
$48,094
Median Earnings
$1,459
Median Rent
$435,600
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 - Block construction with driveway parking, public water, and separate heating and cooling equipment.
Where is this duplex located?
The property is located at 901 PADUA Court Nokomis, FL.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Duplex with 1,216 square feet of building area; 0.23‑acre parcel zoned RC; Six bedrooms and three bathrooms
