Short-Term Rental Apartment
For Sale
$1,600,000
1236 13th Street, Sarasota, FL 34236
Five-unit apartment building zoned for short-term rentals, including four one-bedrooms and one two-bedroom with den.
Property Size4,402 SF
Price / SF$363.47
Days on Market247
Property Features for 1236 13th Street
General Information
Standard status
Active
Size
4,402 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$9,398
Amenities
Central Air
3
Building Details
Year Built
1961
Listing Agency:
COLDWELL BANKER REALTY
(941) 739-6777
Listed By:
Tonna Gruber
Source:
Xome
Added: Dec 30, 2025
Changed: Sep 3
Last Checked: Aug 6 at 3:29AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This five-unit multifamily building is zoned for short-term rental use and offers a mix of studio-style and larger layouts. The property includes four efficient one-bedroom units and a premier two-bedroom unit that also features a versatile den, providing flexibility for different guest or resident needs. The existing configuration can support operational use as-is, with room to add amenities and/or an elevator based on the property’s setup.
Located along the Downtown Sarasota perimeter in a high-demand area, the building is positioned for convenience to the city’s daily draw. The remarks note proximity to Downtown, restaurants, and performing arts, along with nearby Bayside Park, the Marina at Bayfront Park, and Bay County Park. The Sarasota and Manatee County beaches are also described as accessible.
For buyers or operators seeking a small-scale short-term rental property, the combination of compact one-bedroom units and a larger two-bedroom home with den can support varied occupancy profiles. The clear tenant-mix range may help streamline unit planning for a short-term rental strategy while providing an opportunity to enhance the asset further through additional amenities and accessibility improvements.
Located along the Downtown Sarasota perimeter in a high-demand area, the building is positioned for convenience to the city’s daily draw. The remarks note proximity to Downtown, restaurants, and performing arts, along with nearby Bayside Park, the Marina at Bayfront Park, and Bay County Park. The Sarasota and Manatee County beaches are also described as accessible.
For buyers or operators seeking a small-scale short-term rental property, the combination of compact one-bedroom units and a larger two-bedroom home with den can support varied occupancy profiles. The clear tenant-mix range may help streamline unit planning for a short-term rental strategy while providing an opportunity to enhance the asset further through additional amenities and accessibility improvements.
Key Highlights
- Five‑unit multi‑family building zoned for short‑term rentals
- Unit mix: four efficient 1‑bedroom units plus one 2‑bedroom unit with a den
- Building area totals 4,402 sq ft with 2 total stories and 1 building
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
$53,263
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
3.33%
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%
$1,065,260
$1.1M
Cap Rate 7%
$760,900
$760.9K
Cap Rate 9%
$591,811
$591.8K
Market Conditions
NOI Build-Up for 4,402 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
$102.5K $23.28/SF
− Vacancy
−$5.6K −$1.28/SF
EGI
$96.8K $22.00/SF
− OpEx
−$43.6K −$9.90/SF
NOI
$53.3K $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%
$1,065,260
Cap Rate 7%
$760,900
Cap Rate 9%
$591,811
Alternative Uses
Best Use
Apartment 5plus
$760.9K
$665.8K – $887.7K
NOI $53,263 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,614 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
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?
Apartment building - Five-unit apartment building zoned for short-term rentals, including four one-bedrooms and one two-bedroom with den.
Where is this apartment building located?
The property is located at 1236 13th Street Sarasota, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Five‑unit multi‑family building zoned for short‑term rentals; Unit mix: four efficient 1‑bedroom units plus one 2‑bedroom unit with a den; Building area totals 4,402 sq ft with 2 total stories and 1 building
