Waterway Access in 55+
For Sale
$110,000
12507 CORTEZ W 56, Cortez, FL 34215
Property in 55+ community near Gulf of Mexico.
Property Size730 SF
Lot Size0.04 Acres
Days on Market321
Property Features for 12507 CORTEZ W 56
General Information
Standard status
Active
Size
730 SF
Lot size
0.04 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$728
Building Details
Building Size
730 SF
Year Built
1973
Listed By:
Donna Turnbaugh · License #3284547
(410) 382-4692
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 1
Last Checked: Oct 15 at 12:00AM
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 / Yr
$8,833
Cap Rate
8.03%
Suggested Prices Based on Cap Rates
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
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 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
NOI $8,833 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.7K
$187.8K – $250.5K
NOI $15,027 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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 W 56 Cortez, FL.
What is the asking price?
The asking price for this property is $110,000.
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.
