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    Punta Gorda Duplex with Water Views Title is generated by Realmo AI

    509 W RETTA ESPLANADE, Punta Gorda, FL 33950

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    For Sale
    $650,000

    Duplex in Historic District with water views and pool.

    Type:Multi Family
    Property size:
    2,240 SF
    Price / SF:
    $290/SF
    Added:
    Apr 17, 2025
    Days on Market:
    412
    Last Refresh:
    May 28 at 5:08 pm

    Property Features for 509 W RETTA ESPLANADE

    General Information

    Standard status
    Active
    Size
    2,240 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Christopher Grant

    Listing agent Christopher Grant License #3238094

    Listing office GRANT TEAM REAL ESTATE, LLC

    Listing date Apr 17, 2025

    Source Exitrealty

    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 GRANT TEAM REAL ESTATE, LLC

    HighLights

    • Waterfront property with breathtaking water views and spectacular sunsets.
    • In‑ground pool and tropical backyard oasis perfect for entertaining and relaxation.
    • Located in Punta Gorda's Historic District, steps from Gilchrist Park, dining, shopping, and the Harborwalk.
    • Duplex configuration offers flexibility for multi‑generational living, rental income, or seasonal guests.
    • Each unit features 2 bedrooms and 2 bathrooms with open concept living spaces and updated kitchens.
    • Private outdoor areas including an upstairs balcony and poolside dining space.

    Overview

    This well-maintained duplex is located in the Historic District of Punta Gorda. The property features water views and an in-ground pool. Each unit includes 2 bedrooms and 2 full bathrooms. The upstairs and downstairs layouts are similar, featuring open concept living spaces, updated kitchens, and private outdoor areas. The backyard includes a pool overlooking the waterfront. The property is located near Gilchrist Park and within walking distance of dining, shopping, and the Harborwalk. This property is suitable for multi-generational living, rental income, or accommodating seasonal guests. The property is 2240 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Punta Gorda
    County
    Charlotte
    State
    Florida
    Longitude
    -82.055533
    Latitude
    26.933192

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    FAQs

    What type of property is this?
    Duplex - Duplex in Historic District with water views and pool.
    Where is this duplex located?
    The property is located at 509 W RETTA ESPLANADE Punta Gorda, FL.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Waterfront property with breathtaking water views and spectacular sunsets.; In‑ground pool and tropical backyard oasis perfect for entertaining and relaxation.; Located in Punta Gorda's Historic District, steps from Gilchrist Park, dining, shopping, and the Harborwalk.
    (941) 205-8481
    We can help!
    Listing Contact
    Christopher Grant
    Real Estate License ID: 3238094
    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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