Updated Nokomis
647 CHURCH STREET Nokomis, FL 34275
647 CHURCH STREET, Nokomis, FL, 34275
$419,999
For Sale
$419,999
Both sides have been fully updated with new windows, roof, interiors, and separate exterior laundry rooms with hookups.
Property Size1,456 SF
Price / SF$288.46
Days on Market1253
Property Features for 647 CHURCH STREET
General Information
- Standard status
- Active
- Size
- 1,456 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1971
Listing agency
RE/MAX ALLIANCE GROUP
(941) 806-7200
Listed by
Christopher Callas · License #3194263
(941) 806-7200
Source
Exitrealty
Added: Feb 14, 2023 Updated: Jul 20 at 5:10PM Checked: Jul 21 at 5:54AM
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 RE/MAX ALLIANCE GROUP
Investment Insights
Based on property information with market context.
This updated duplex in Nokomis has been completely refreshed on both sides. Improvements reported include 2021 impact windows, a 2022 new roof, all-new interiors with flooring, cabinets, and bathrooms, and interior and exterior paint. Septic has been serviced, and a new AC unit is noted for Unit A. Each unit also has a separate exterior-access laundry room in the back with hookups already in place.
The property is described as having convenient access to U.S. 41 and I-75. It has also reportedly just passed an insurance inspection.
The layout provides two separate units within one property, with exterior laundry facilities designed for each side. Recent updates are intended to reduce immediate maintenance concerns for an income-focused buyer.
The property is described as having convenient access to U.S. 41 and I-75. It has also reportedly just passed an insurance inspection.
The layout provides two separate units within one property, with exterior laundry facilities designed for each side. Recent updates are intended to reduce immediate maintenance concerns for an income-focused buyer.
Key Highlights
- 1971‑built duplex with both sides completely updated
- 2021: new impact windows; 2022: new roof
- All new interiors on both sides, including flooring, cabinets, and bathrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $23.6k | $16.20 |
| − Vacancy | −$2.3k | −$1.60 |
| EGI | $21.3k | $14.60 |
| − OpEx | −$6.4k | −$4.38 |
| NOI | $14.9k | $10.22 |
1,456 SF · lease $16.20/SF/yr · vacancy 9.88% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$212.6K
$186.0K – $248.0K
NOI $14,880 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$189.4K
$165.8K – $221.0K
NOI $13,260 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$413.8K
$362.1K – $482.8K
NOI $28,966 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Both sides have been fully updated with new windows, roof, interiors, and separate exterior laundry rooms with hookups.
Where is this duplex located?
The property is located at 647 CHURCH STREET Nokomis, FL.
What is the asking price?
The asking price for this property is $419,999.
What are key features of this property?
This property features: 1971‑built duplex with both sides completely updated; 2021: new impact windows; 2022: new roof; All new interiors on both sides, including flooring, cabinets, and bathrooms
