Renovated Duplex with In-Place
For Sale
$599,900
1207 62ND AVENUE E, Bradenton, FL 34203
Fully renovated two-unit property with occupied units and updated kitchens and bathrooms.
Property Size2,036 SF
Price / SF$294.65
Days on Market13
Property Features for 1207 62ND AVENUE E
General Information
Standard status
Active
Size
2,036 SF
Property subtype
Duplex
Occupancy
100%
Net Operating Income
$40,605
Financials
Asking Price
$599,900
Cap Rate
6.8%
Additional Details
Multifamily Units
2
Building Details
Year Built
1985
Buildings
1
Tenancy
Multi
Listing Agency:
POWELL REALTY
(904) 422-1224
Listed By:
Cody Powell · License #3232623
Source:
Endlesssummerrealty
Added: Aug 15
Changed: Aug 25
Last Checked: Aug 26 at 9:21AM
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 POWELL REALTY
Investment Insights
Based on property information with market context.
This 2,036-square-foot duplex, built in 1985, has undergone a comprehensive interior renovation. Both units were taken down to the studs and updated with remodeled kitchens and bathrooms, quartz countertops, and walk-in showers in the master bathrooms. The roof was replaced five years ago, providing a recent major capital improvement.
Both residences are occupied, providing an operating income component from the outset. The property is part of a group of four adjacent duplex buildings, with three additional duplexes also available for purchase. Each building may be acquired separately, allowing the asset to stand alone or be considered alongside the neighboring properties.
Both residences are occupied, providing an operating income component from the outset. The property is part of a group of four adjacent duplex buildings, with three additional duplexes also available for purchase. Each building may be acquired separately, allowing the asset to stand alone or be considered alongside the neighboring properties.
Key Highlights
- 2,036‑square‑foot duplex built in 1985
- Both units are currently occupied
- Interior renovation included work down to the studs
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
$26,746
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
4.46%
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%
$534,920
$534.9K
Cap Rate 7%
$382,086
$382.1K
Cap Rate 9%
$297,178
$297.2K
Market Conditions
NOI Build-Up for 2,036 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
$40.3K $19.80/SF
− Vacancy
−$2.1K −$1.03/SF
EGI
$38.2K $18.77/SF
− OpEx
−$11.5K −$5.63/SF
NOI
$26.7K $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%
$534,920
Cap Rate 7%
$382,086
Cap Rate 9%
$297,178
Alternative Uses
Best Use
Multifamily LT 5
$382.1K
$334.3K – $445.8K
NOI $26,746 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$351.9K
$307.9K – $410.6K
NOI $24,635 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
594
Businesses Nearby
Explore this area
Business Placement
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
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 renovated two-unit property with occupied units and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 1207 62ND AVENUE E Bradenton, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 2,036‑square‑foot duplex built in 1985; Both units are currently occupied; Interior renovation included work down to the studs
