Tenant-Occupied
For Sale
$415,000
10186 TRAMORE AVENUE, Englewood, FL 34224
Two contemporary units offer open layouts, modern kitchens, and stylish finishes in the Englewood area.
Property Size2,332 SF
Price / SF$177.96
Days on Market537
Property Features for 10186 TRAMORE AVENUE
General Information
Standard status
Active
Size
2,332 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,664
Building Details
Year Built
2023
Listing Agency:
REDFIN CORPORATION
(704) 497-0664
Listed By:
Marcia Van Ginhoven · License #3517546
(704) 497-0664
Source:
Exitrealty
Added: Mar 13, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REDFIN CORPORATION
Investment Insights
Based on property information with market context.
Built in 2023, this tenant-occupied duplex contains two 2-bedroom, 2-bathroom residences, each measuring 1,052 square feet. Both units feature open-concept layouts with luxury vinyl plank flooring, stainless steel appliances, granite countertops, breakfast bars, and family rooms. The configuration provides separate living spaces within a single multifamily property.
The property is located in the Englewood area, with access to beaches, golf courses, shopping, and dining. Its existing tenant occupancy and two-unit layout provide a straightforward profile for buyers seeking a multifamily asset.
The property is located in the Englewood area, with access to beaches, golf courses, shopping, and dining. Its existing tenant occupancy and two-unit layout provide a straightforward profile for buyers seeking a multifamily asset.
Key Highlights
- Tenant‑occupied duplex built in 2023
- Two 2‑bedroom, 2‑bathroom units
- Each unit measures 1,052 square feet
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
$22,559
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
5.44%
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%
$451,180
$451.2K
Cap Rate 7%
$322,271
$322.3K
Cap Rate 9%
$250,656
$250.7K
Market Conditions
NOI Build-Up for 2,332 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
$39.7K $17.04/SF
− Vacancy
−$7.5K −$3.22/SF
EGI
$32.2K $13.82/SF
− OpEx
−$9.7K −$4.15/SF
NOI
$22.6K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$451,180
Cap Rate 7%
$322,271
Cap Rate 9%
$250,656
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.0K – $376.0K
NOI $22,559 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$294.1K
$257.4K – $343.1K
NOI $20,588 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$763.6K
$668.1K – $890.8K
NOI $53,449 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 34224, FL
16,379
Population
11,333
Households
1.4
Avg Household Size
63
Median Age
21%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
1,280
Density / Sq Mi
$56,862
Median Household Income
$34,450
Median Earnings
$1,219
Median Rent
$262,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two contemporary units offer open layouts, modern kitchens, and stylish finishes in the Englewood area.
Where is this duplex located?
The property is located at 10186 TRAMORE AVENUE Englewood, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Tenant‑occupied duplex built in 2023; Two 2‑bedroom, 2‑bathroom units; Each unit measures 1,052 square feet
