Building Details

Building Size 730 SF

Year Built 1973

Stories 1

Listing Agency: d***@gmail.com Show Phone

Listed By: Donna Turnbaugh · License #3284547 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 28 Last Checked: Aug 29 at 1:56PM

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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 Donna Turnbaugh

Investment Insights

Based on property information with market context.

Located in a 55+ and pet-friendly community within the Historic Cortez Fishing Village, this property, identified as Lot 56, sustained hurricane damage in 2024 and requires complete rehabilitation or demolition and replacement. Situated steps from the Intercoastal Waterway of the Gulf of Mexico, the community provides private docking, an outdoor gathering space, a community social room, shuffleboard, and a laundry facility. The property is within walking distance of the Tides Table restaurant and the Cortez Bridge, offering access to gulf beaches. Community areas offer views of boats and sunsets.

Key Highlights

• Steps away from the Intercoastal Waterway of the Gulf of Mexico.
• Located in a 55+ and pet‑friendly community.
• Community features include private docking, outside gathering space, social room, shuffleboard, and laundry facility.

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

$8,833

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

5.97%

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%

$176,660 $176.7K

Cap Rate 7%

$126,186 $126.2K

Cap Rate 9%

$98,144 $98.1K

Market Conditions

NOI Build-Up for 730 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

$17.0K $23.28/SF

− Vacancy

−$935 −$1.28/SF

EGI

$16.1K $22.00/SF

− OpEx

−$7.2K −$9.90/SF

NOI

$8.8K $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%

$176,660

Cap Rate 7%

$126,186

Cap Rate 9%

$98,144

Alternative Uses

Best Use

Apartment 5plus

$126.2K

$110.4K – $147.2K (±1% cap)

NOI $8,833 @ 7.0% cap · market cap 5.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$214.7K

$187.8K – $250.5K (±1% cap)

NOI $15,027 @ 7.0% cap · market cap 10.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mobile home & RV ...

Suggested Use

Top Pick Building Supply Auto Repair Shop Law Firm Storage Facility Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

309

Businesses Nearby

Explore this area Business Placement

Demographics for 34215, FL

793

Population

672

Households

1.2

Avg Household Size

65

Median Age

36%

College-Educated

100%

High-School Grad

0.6 sq mi

ZIP Area

1,322

Density / Sq Mi

$76,364

Median Household Income

$722,200

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this mobile home & rv parks located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mobile home & RV park - Property in 55+ community near Gulf of Mexico.

Where is this mobile home & rv park located?

The property is located at 12507 CORTEZ Rd W 56 Cortez, FL.

What is the asking price?

The asking price for this property is $148,000.

What are key features of this property?

This property features: Steps away from the Intercoastal Waterway of the Gulf of Mexico.; Located in a 55+ and pet‑friendly community.; Community features include private docking, outside gathering space, social room, shuffleboard, and laundry facility.