Furnished Corner Unit with
For Sale
$200,000
Pending
4110 IRONWOOD CIRCLE 301, Bradenton, FL 34209
Bright, furnished corner unit with pond view and recent upgrades.
Property Size1,296 SF
Days on Market579
Property Features for 4110 IRONWOOD CIRCLE 301
General Information
Standard status
Pending
Size
1,296 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,280
Building Details
Year Built
1994
Listing Agency:
MICHAEL SAUNDERS & COMPANY
(941) 962-0309
Listed By:
Kathy Bergloff · License #3005508
(941) 962-0309
Source:
Exitrealty
Added: Jan 8, 2025
Changed: Aug 8
Last Checked: Aug 9 at 7:39AM
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 MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
This light and bright corner unit is nicely furnished with a coastal design. The property features an enclosed lanai overlooking a pond, as well as a screened patio at the front. The roof was replaced in 2022, plumbing stacks were replaced in 2023, and the elevator was replaced in 2024. The kitchen has been re-plumbed. The floor plan includes a separate dining area off the kitchen and a split bedroom design with a large walk-in closet in the primary area. Assigned, covered parking is conveniently located, and there is ample guest parking available. The property is a short drive to the beaches and minutes from restaurants, shopping, banking, and other conveniences. The property is 1296 square feet.
Key Highlights
- Recent major renovations: new roof (2022), plumbing stacks (2023), and elevator (2024).
- Furnished corner unit overlooking a pond with enclosed lanai.
- Split bedroom floor plan featuring large walk‑in closet in primary bedroom.
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
$15,681
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
7.84%
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%
$313,620
$313.6K
Cap Rate 7%
$224,014
$224.0K
Cap Rate 9%
$174,233
$174.2K
Market Conditions
NOI Build-Up for 1,296 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
$30.2K $23.28/SF
− Vacancy
−$1.7K −$1.28/SF
EGI
$28.5K $22.00/SF
− OpEx
−$12.8K −$9.90/SF
NOI
$15.7K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$313,620
Cap Rate 7%
$224,014
Cap Rate 9%
$174,233
Alternative Uses
Best Use
Apartment 5plus
$224.0K
$196.0K – $261.4K
NOI $15,681 @ 7.0% cap · market cap 7.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.1K
$333.5K – $444.6K
NOI $26,678 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 34209, FL
32,940
Population
18,896
Households
1.7
Avg Household Size
58
Median Age
36%
College-Educated
93%
High-School Grad
12.6 sq mi
ZIP Area
2,614
Density / Sq Mi
$80,829
Median Household Income
$41,649
Median Earnings
$1,847
Median Rent
$357,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Bright, furnished corner unit with pond view and recent upgrades.
Where is this residential income property located?
The property is located at 4110 IRONWOOD CIRCLE 301 Bradenton, FL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Recent major renovations: new roof (2022), plumbing stacks (2023), and elevator (2024).; Furnished corner unit overlooking a pond with enclosed lanai.; Split bedroom floor plan featuring large walk‑in closet in primary bedroom.
