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    Anna Maria Island Four-Plex Title is generated by Realmo AI

    107 PINE Ave, Anna Maria, FL 34216

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    For Sale
    $4,999,999

    Rare four-unit apartment building near Anna Maria Island beaches.

    Type:Investment
    Lot size:
    0.17 Acres
    Added:
    Apr 11, 2026
    Days on Market:
    54
    Last Refresh:
    Apr 11 at 6:19 am

    Property Features for 107 PINE Ave

    General Information

    Standard status
    Active
    Lot size
    0.17 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    Hannah Hillyard

    Listing agent Hannah Hillyard License #3387020

    Listing office

    Listing date Apr 11, 2026

    Source Elliman

    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 Hannah Hillyard

    HighLights

    • Steps to the beach: Just 50 feet from the beautiful shores of Anna Maria Island.
    • Four‑unit apartment building offering immediate income potential.
    • Prime location on Pine Avenue, walkable to shops and restaurants.
    • Turnkey furnished with renovated kitchens featuring granite countertops and updated bathrooms.
    • Future redevelopment potential on a nearly 7,400 sq ft lot.
    • Two golf cart charging stations.

    Overview

    This four-unit apartment building presents an investment opportunity on the north end of Anna Maria Island, situated approximately 50 feet from the beach. The property, known as Gulf Queen Apartments, occupies a nearly 7,400 sq ft lot, offering potential for future redevelopment. This turnkey furnished, ground-level four-plex includes two apartments with two bedrooms and one bathroom each, and two apartments with one bedroom and one bathroom each. The units feature polished terrazzo flooring, open-concept living and kitchen areas, and coastal decor. The kitchens have been renovated with granite countertops, and the bathrooms have been updated. New furnishings are present throughout. The two-bedroom units can accommodate up to four guests. The property is located on Pine Avenue, near shops and restaurants, and offers access to the free island trolley. Nearby attractions include Bean Point, The Waterfront Restaurant, and The Sandbar Restaurant. The property also features two golf cart charging stations. The building can be rented out to accommodate wedding guests or other family gathering venues, or each unit can be rented individually. The property is located next door to the Sand Bar Restaurant and is walkable to numerous shops and restaurants that stretch from the Bay to the Gulf.
    Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Spa & Massage Center Real Estate Agency Hair Salon Nail Salon Gym & Fitness Center Department Store Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Anna Maria
    County
    Manatee
    State
    Florida
    Longitude
    -82.7353
    Latitude
    27.5307

    Nearby Similar for Sale

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    • $450,000

      Prime Office Space in Plaza

      Office space in high-traffic location with private balcony.
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    • $1,900,000
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      Anna Maria Island Duplex Opportunity

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    • Contact for pricing
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      Anna Maria Retail Opportunity

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    FAQs

    What type of property is this?
    Quadplex - Rare four-unit apartment building near Anna Maria Island beaches.
    Where is this quadplex located?
    The property is located at 107 PINE Ave Anna Maria, FL.
    What is the asking price?
    The asking price for this property is $4,999,999.
    What are key features of this property?
    This property features: Steps to the beach: Just 50 feet from the beautiful shores of Anna Maria Island.; Four‑unit apartment building offering immediate income potential.; Prime location on Pine Avenue, walkable to shops and restaurants.
    (941) 744-7358
    We can help!
    Listing Contact
    Hannah Hillyard
    Real Estate License ID: 3387020
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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