2023 Two-Unit
For Sale
$445,000
10524 Pendleton Ave, Englewood, FL 34224
Modern residences combine private garages, split-bedroom layouts, and contemporary finishes in East Englewood.
Property Size2,383 SF
Price / SF$186.74
Days on Market42
Property Features for 10524 Pendleton Ave
General Information
Standard status
Active
Size
2,383 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
2023
Buildings
1
Listing Agency:
HANK BRILL PROPERTIES LLC
(941) 473-0600
Listed By:
Laurie Clevenger · License #3633279
Source:
Exciterealtyflorida
Added: Jul 21
Changed: Aug 31
Last Checked: Aug 31 at 7:47PM
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 HANK BRILL PROPERTIES LLC
Investment Insights
Based on property information with market context.
Completed in 2023, this duplex offers two separate residences with a consistent modern design. Each unit includes 2 bedrooms, 2 bathrooms, an attached 1-car garage, an open-concept living area, a split-bedroom layout, contemporary finishes, durable flooring, and a modern kitchen. Bright interiors and additional garage storage support comfortable, low-maintenance living.
The property is located at 10524 Pendleton Ave in Englewood, Florida. The East Englewood setting provides access to Gulf beaches, boating, fishing, golf courses, shopping, dining, and the natural surroundings of Southwest Florida.
The property is located at 10524 Pendleton Ave in Englewood, Florida. The East Englewood setting provides access to Gulf beaches, boating, fishing, golf courses, shopping, dining, and the natural surroundings of Southwest Florida.
Key Highlights
- Built in 2023
- Two units, each with 2 bedrooms and 2 bathrooms
- Attached 1‑car garage for each unit
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
$23,052
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
5.18%
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%
$461,040
$461.0K
Cap Rate 7%
$329,314
$329.3K
Cap Rate 9%
$256,133
$256.1K
Market Conditions
NOI Build-Up for 2,383 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
$40.6K $17.04/SF
− Vacancy
−$7.7K −$3.22/SF
EGI
$32.9K $13.82/SF
− OpEx
−$9.9K −$4.15/SF
NOI
$23.1K $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%
$461,040
Cap Rate 7%
$329,314
Cap Rate 9%
$256,133
Alternative Uses
Best Use
Multifamily LT 5
$329.3K
$288.2K – $384.2K
NOI $23,052 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$300.6K
$263.0K – $350.7K
NOI $21,039 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$780.3K
$682.7K – $910.3K
NOI $54,618 @ 7.0% cap · market cap 12.27%
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
157
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 - Modern residences combine private garages, split-bedroom layouts, and contemporary finishes in East Englewood.
Where is this duplex located?
The property is located at 10524 Pendleton Ave Englewood, FL.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Built in 2023; Two units, each with 2 bedrooms and 2 bathrooms; Attached 1‑car garage for each unit
