Two-Unit Duplex with Private
New
For Sale
$425,000
121 GRANADA BLVD, North Port, FL 34287
One-story duplex with separate electric meters, individual driveways, central air, and no HOA restrictions.
Property Size2,304 SF
Lot Size0.17 Acres
Price / SF$184.46
Days on Market5
Property Features for 121 GRANADA BLVD
General Information
Standard status
Active
Size
2,304 SF
Lot size
0.17 Acres
Property subtype
Duplex
Zoning
RMF-1
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,722
Amenities
ceiling fans
inside laundry
central air
Building Details
Building Size
2,304 SF
Year Built
1978
Buildings
1
Stories
1
Listing Agency:
LISTED SIMPLY
(619) 654-9866
Listed By:
Sinan Zakaria · License #01948642
Source:
Nixandassociates
Added: Aug 10
Changed: Aug 14
Last Checked: Aug 14 at 1:16PM
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 LISTED SIMPLY
Investment Insights
Based on property information with market context.
This 1978 duplex contains two three-bedroom residential units within 2,304 square feet of living area. Each side has its own entrance, central air, private driveway parking, ceiling fans, and inside laundry. Separate electric meters serve the units, while the property uses well and septic systems. One unit has been updated with a modern kitchen, bathroom improvements, luxury vinyl plank flooring, Benjamin Moore Chantilly Lace interior paint, and GFCI outlets. The second unit is occupied by a long-term tenant and is reported to be in good condition.
The property sits on a 7,534 square foot lot and is zoned RMF-1. The roof was replaced in 2017. There is no HOA or deed restriction, and the property is outside flood zones. Nearby context includes schools, parks, shopping, beaches, and Warm Mineral Springs.
The property sits on a 7,534 square foot lot and is zoned RMF-1. The roof was replaced in 2017. There is no HOA or deed restriction, and the property is outside flood zones. Nearby context includes schools, parks, shopping, beaches, and Warm Mineral Springs.
Key Highlights
- Two three‑bedroom units totaling 2,304 sq ft
- 7,534 sq ft lot zoned RMF‑1
- Separate electric meters and private entrances
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
$23,546
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
5.54%
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%
$470,920
$470.9K
Cap Rate 7%
$336,371
$336.4K
Cap Rate 9%
$261,622
$261.6K
Market Conditions
NOI Build-Up for 2,304 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
$37.3K $16.20/SF
− Vacancy
−$3.7K −$1.60/SF
EGI
$33.6K $14.60/SF
− OpEx
−$10.1K −$4.38/SF
NOI
$23.5K $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%
$470,920
Cap Rate 7%
$336,371
Cap Rate 9%
$261,622
Alternative Uses
Best Use
Multifamily LT 5
$336.4K
$294.3K – $392.4K
NOI $23,546 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$299.7K
$262.3K – $349.7K
NOI $20,982 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$654.8K
$573.0K – $764.0K
NOI $45,837 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
620
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 - One-story duplex with separate electric meters, individual driveways, central air, and no HOA restrictions.
Where is this duplex located?
The property is located at 121 GRANADA BLVD North Port, FL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two three‑bedroom units totaling 2,304 sq ft; 7,534 sq ft lot zoned RMF‑1; Separate electric meters and private entrances
