Two-Unit Duplex with Storage
For Sale
$359,900
1207 3rd Avenue E A & B3400, Bradenton, FL 34208
Vacant duplex with individual laundry rooms and separate backyard areas.
Property Size1,512 SF
Price / SF$238.03
Days on Market27
Property Features for 1207 3rd Avenue E A & B3400
General Information
Standard status
Active
Size
1,512 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1982
Buildings
1
Listing Agency:
W.I.T. REALTY LLC
(941) 330-5080
Listed By:
Nathan Dunham · License #3032167
Source:
Susannelosso
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 1:40PM
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 W.I.T. REALTY LLC
Investment Insights
Based on property information with market context.
This 1,512-square-foot duplex contains two residences, each configured with two bedrooms and one bathroom. Both units include their own laundry room, with access positioned toward the rear of the property. The building was constructed in 1982 and has a newer roof.
Outdoor features include separate backyard areas, porches, and two large storage sheds. Both residences are vacant. The property is located at 1207 3rd Avenue E A & B3400 in Bradenton, Florida.
Outdoor features include separate backyard areas, porches, and two large storage sheds. Both residences are vacant. The property is located at 1207 3rd Avenue E A & B3400 in Bradenton, Florida.
Key Highlights
- Two‑unit duplex with 1,512 square feet
- Each unit includes 2 bedrooms and 1 bathroom
- Individual laundry rooms located at the rear of 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
$19,862
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
5.52%
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%
$397,240
$397.2K
Cap Rate 7%
$283,743
$283.7K
Cap Rate 9%
$220,689
$220.7K
Market Conditions
NOI Build-Up for 1,512 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
$29.9K $19.80/SF
− Vacancy
−$1.6K −$1.03/SF
EGI
$28.4K $18.77/SF
− OpEx
−$8.5K −$5.63/SF
NOI
$19.9K $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 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%
$397,240
Cap Rate 7%
$283,743
Cap Rate 9%
$220,689
Alternative Uses
Best Use
Multifamily LT 5
$283.7K
$248.3K – $331.0K
NOI $19,862 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$261.4K
$228.7K – $304.9K
NOI $18,295 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$444.6K
$389.1K – $518.7K
NOI $31,124 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Explore this area
Business Placement
Demographics for 34208, FL
38,522
Population
17,056
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
80%
High-School Grad
16.5 sq mi
ZIP Area
2,335
Density / Sq Mi
$59,899
Median Household Income
$37,489
Median Earnings
$1,409
Median Rent
$303,600
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 - Vacant duplex with individual laundry rooms and separate backyard areas.
Where is this duplex located?
The property is located at 1207 3rd Avenue E A & B3400 Bradenton, FL.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,512 square feet; Each unit includes 2 bedrooms and 1 bathroom; Individual laundry rooms located at the rear of each unit
