Updated Two-Unit
New
For Sale
$584,000
11704 40TH AVENUE W, Bradenton, FL 34210
Separate residences offer a three-bedroom, two-bath layout and a two-bedroom, one-bath layout.
Property Size1,620 SF
Price / SF$360.49
Days on Market5
Property Features for 11704 40TH AVENUE W
General Information
Standard status
Active
Size
1,620 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$40,000
Building Details
Year Built
1972
Buildings
1
Listing Agency:
BEACH HOUSE REAL ESTATE LLC
(941) 216-3793
Listed By:
Trevor Bayer · License #3234953
(941) 799-9345
Source:
Endlesssummerrealty
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 19 at 2:05PM
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 BEACH HOUSE REAL ESTATE LLC
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Investment Insights
Based on property information with market context.
This 1,620-square-foot duplex, built in 1972, contains two residences: one with three bedrooms and two bathrooms, and another with two bedrooms and one bathroom. Renovations include refreshed kitchens and bathrooms, impact-rated windows and doors, new air-conditioning systems and water heaters, and restored terrazzo floors. The roof dates to 2023.
The property is in Sunny Shores, in the historic Cortez area, a short drive from Anna Maria Island beaches. Sunny Shores Coastal Park offers a bayside beach, while community amenities include a clubhouse and pickleball court. Parrot Cove Marina is also within the community. Local seafood restaurants and Cortez’s working waterfront are nearby.
The property is in Sunny Shores, in the historic Cortez area, a short drive from Anna Maria Island beaches. Sunny Shores Coastal Park offers a bayside beach, while community amenities include a clubhouse and pickleball court. Parrot Cove Marina is also within the community. Local seafood restaurants and Cortez’s working waterfront are nearby.
Key Highlights
- Two residences: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1 bathroom
- 1,620 square feet; built in 1972
- Renovated kitchens and bathrooms, impact windows and doors, new A/C systems and water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,281
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,620
$425.6K
Cap Rate 7%
$304,014
$304.0K
Cap Rate 9%
$236,456
$236.5K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$32.1K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$30.4K $18.77/SF
− OpEx
−$9.1K −$5.63/SF
NOI
$21.3K $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 Rate 5%
$425,620
Cap Rate 7%
$304,014
Cap Rate 9%
$236,456
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,281 @ 7.0% cap · market cap 3.64%
Second Best
Apartment 5plus
$280.0K
$245.0K – $326.7K
NOI $19,602 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$476.4K
$416.8K – $555.8K
NOI $33,347 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
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Business Placement
Demographics for 34210, FL
16,447
Population
11,870
Households
1.4
Avg Household Size
54
Median Age
37%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
1,848
Density / Sq Mi
$64,306
Median Household Income
$37,216
Median Earnings
$1,552
Median Rent
$279,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences offer a three-bedroom, two-bath layout and a two-bedroom, one-bath layout.
Where is this duplex located?
The property is located at 11704 40TH AVENUE W Bradenton, FL.
What is the asking price?
The asking price for this property is $584,000.
What are key features of this property?
This property features: Two residences: one with 3 bedrooms and 2 bathrooms; the other with 2 bedrooms and 1 bathroom; 1,620 square feet; built in 1972; Renovated kitchens and bathrooms, impact windows and doors, new A/C systems and water heaters
