Turnkey Investment Property Near
For Sale
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12031 Saragossa Ln, North Port, FL 34287
Fully furnished duplex built in 2020 near mineral springs.
Property Size3,133 SF
Price / SF$159.27
Days on Market224
Property Features for 12031 Saragossa Ln
General Information
Standard status
Active
Size
3,133 SF
Class
A
Property subtype
Multifamily
Zoning
RMF3
Building Details
Year Built
2020
Units
2
Listing Agency:
RE/MAX Palm Realty
(941) 525-6818
Listed By:
Regina Melman · License #FL - 3455400
Source:
Crexi
Added: Jan 6
Changed: Aug 16
Last Checked: Aug 17 at 7:26AM
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 RE/MAX Palm Realty
Investment Insights
Based on property information with market context.
This fully furnished duplex, constructed in 2020, presents an excellent income opportunity. Located minutes from warm mineral springs, the property features two end units, each with 2 bedrooms and 2 bathrooms. Tenants are responsible for their own electricity usage, as the units are individually metered. Several upgrades have been made to the major mechanical systems, including new A/C units installed within the last two years and a house electric meter. The property is not located in a flood zone and has no HOA or CDD fees. Situated in North Port, the location provides convenient access to various amenities and attractions, including pristine Gulf beaches, marinas, and world-class fishing opportunities. Golf enthusiasts can enjoy a variety of renowned golf courses in the area. North Port offers a thriving shopping and dining scene, with diverse retail centers, boutiques, and restaurants. The vibrant downtown area features charming shops, art galleries, and entertainment venues. The city hosts numerous cultural events, festivals, and community gatherings throughout the year. Charlotte Harbor Preserve State Park and Myakka River State Park are also nearby, offering scenic trails, wildlife sightings, and peaceful waterways. The property is also near excellent educational institutions, reliable medical facilities, and convenient transportation options. The property size is 3,133 square feet.
Key Highlights
- Built in 2020: Benefit from modern construction and potentially fewer maintenance concerns.
- Turnkey and Fully Furnished: Move right in or start generating rental income immediately.
- No HOA or CDD Fees: Enjoy significant cost savings.
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
$32,018
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
6.42%
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%
$640,360
$640.4K
Cap Rate 7%
$457,400
$457.4K
Cap Rate 9%
$355,756
$355.8K
Market Conditions
NOI Build-Up for 3,133 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
$50.8K $16.20/SF
− Vacancy
−$5.0K −$1.60/SF
EGI
$45.7K $14.60/SF
− OpEx
−$13.7K −$4.38/SF
NOI
$32.0K $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%
$640,360
Cap Rate 7%
$457,400
Cap Rate 9%
$355,756
Alternative Uses
Best Use
Multifamily LT 5
$457.4K
$400.2K – $533.6K
NOI $32,018 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$407.6K
$356.7K – $475.5K
NOI $28,532 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$890.4K
$779.1K – $1.04M
NOI $62,330 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 34287, FL
26,277
Population
15,713
Households
1.7
Avg Household Size
59
Median Age
23%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
1,510
Density / Sq Mi
$64,229
Median Household Income
$39,509
Median Earnings
$1,296
Median Rent
$235,400
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 - Fully furnished duplex built in 2020 near mineral springs.
Where is this duplex located?
The property is located at 12031 Saragossa Ln North Port, FL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Built in 2020: Benefit from modern construction and potentially fewer maintenance concerns.; Turnkey and Fully Furnished: Move right in or start generating rental income immediately.; No HOA or CDD Fees: Enjoy significant cost savings.
