8-Unit Duplex Portfolio with
For Sale
$2,399,900
1211 62ND Avenue E, Bradenton, FL 34203
Eight 3-bedroom, 2-bath units in four adjacent duplex buildings, individually metered with tenants paying utilities.
Property Size8,144 SF
Price / SF$294.68
Days on Market280
Property Features for 1211 62ND Avenue E
General Information
Standard status
Active
Size
8,144 SF
Property subtype
Multi-family
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1985
Buildings
4
Listing Agency:
POWELL REALTY
(904) 710-8056
Listed By:
Cody Powell · License #3232623
Source:
Realtygroupfl
Added: Nov 24, 2025
Changed: Aug 28
Last Checked: Aug 30 at 5:51PM
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 8-unit duplex portfolio in South Bradenton consists of four adjacent buildings, with each building offering two units. All units are 3 bedrooms and 2 bathrooms, totaling 1,061 SF across the portfolio. The units have been fully gutted and renovated.
The property was built in 1985. Roofs have been replaced within the last 5 years, and all utilities are individually metered so tenants pay utilities separately. Each unit has its own folio number and can be sold individually.
The combination of renovated interiors, recent roof replacement, and unit-by-unit utility metering supports straightforward tenant billing and flexibility around how the portfolio is structured for sale.
The property was built in 1985. Roofs have been replaced within the last 5 years, and all utilities are individually metered so tenants pay utilities separately. Each unit has its own folio number and can be sold individually.
The combination of renovated interiors, recent roof replacement, and unit-by-unit utility metering supports straightforward tenant billing and flexibility around how the portfolio is structured for sale.
Key Highlights
- Four adjacent duplex buildings with two units per building
- 8 total units, all 3 bedrooms and 2 bathrooms
- All units fully gutted and renovated
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
$106,984
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%
$2,139,680
$2.1M
Cap Rate 7%
$1,528,343
$1.5M
Cap Rate 9%
$1,188,711
$1.2M
Market Conditions
NOI Build-Up for 8,144 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
$161.3K $19.80/SF
− Vacancy
−$8.4K −$1.03/SF
EGI
$152.8K $18.77/SF
− OpEx
−$45.9K −$5.63/SF
NOI
$107.0K $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%
$2,139,680
Cap Rate 7%
$1,528,343
Cap Rate 9%
$1,188,711
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.78M
NOI $106,984 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$1.41M
$1.23M – $1.64M
NOI $98,541 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$2.39M
$2.10M – $2.79M
NOI $167,643 @ 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
8
Residential units
Yes
Utilities to site
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 - Eight 3-bedroom, 2-bath units in four adjacent duplex buildings, individually metered with tenants paying utilities.
Where is this duplex located?
The property is located at 1211 62ND Avenue E Bradenton, FL.
What is the asking price?
The asking price for this property is $2,399,900.
What are key features of this property?
This property features: Four adjacent duplex buildings with two units per building; 8 total units, all 3 bedrooms and 2 bathrooms; All units fully gutted and renovated
