Two-Unit Duplex with Private
For Sale
$360,000
234 /236 Colonia Ln E, Nokomis, FL 34275
Duplex offering a 1BR/1BA unit and a 2BR/2BA unit, each with private entrance and utilities.
Property Size1,449 SF
Price / SF$248.45
Days on Market34
Property Features for 234 /236 Colonia Ln E
General Information
Standard status
Active
Size
1,449 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1947
Tenancy
Multi
Listing Agency:
KW COASTAL LIVING III
(941) 894-9888
Listed By:
Brandi Furlan · License #3147016
Source:
Whitesandsfl
Added: Jul 21
Changed: Aug 21
Last Checked: Aug 23 at 8:05AM
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 KW COASTAL LIVING III
Investment Insights
Based on property information with market context.
This two-unit duplex includes one one-bedroom, one-bathroom unit and one two-bedroom, two-bathroom unit. Each unit has a private entrance and its own utilities, providing privacy and straightforward management options. Recent updates include an air conditioning system installed in 2023, water heaters from 2022, and a roof from 2013.
The property is located in Nokomis, Florida, just minutes from Nokomis Beach. The area is also described as being near Legacy Trail and Oscar Scherer State Park.
For day-to-day living and rental flexibility, the existing unit mix supports multiple occupancy preferences while maintaining separate access for each home.
The property is located in Nokomis, Florida, just minutes from Nokomis Beach. The area is also described as being near Legacy Trail and Oscar Scherer State Park.
For day-to-day living and rental flexibility, the existing unit mix supports multiple occupancy preferences while maintaining separate access for each home.
Key Highlights
- Duplex built in 1947 with a 1BR/1BA unit and a 2BR/2BA unit
- Each unit has its own private entrance and separate utilities
- A/C replaced in 2023
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
$14,808
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
4.11%
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%
$296,160
$296.2K
Cap Rate 7%
$211,543
$211.5K
Cap Rate 9%
$164,533
$164.5K
Market Conditions
NOI Build-Up for 1,449 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
$23.5K $16.20/SF
− Vacancy
−$2.3K −$1.60/SF
EGI
$21.2K $14.60/SF
− OpEx
−$6.3K −$4.38/SF
NOI
$14.8K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$296,160
Cap Rate 7%
$211,543
Cap Rate 9%
$164,533
Alternative Uses
Best Use
Multifamily LT 5
$211.5K
$185.1K – $246.8K
NOI $14,808 @ 7.0% cap · market cap 4.11%
Second Best
Apartment 5plus
$188.5K
$165.0K – $219.9K
NOI $13,196 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$411.8K
$360.3K – $480.5K
NOI $28,827 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 34275, FL
20,570
Population
13,139
Households
1.6
Avg Household Size
63
Median Age
43%
College-Educated
97%
High-School Grad
25.7 sq mi
ZIP Area
800
Density / Sq Mi
$84,503
Median Household Income
$48,094
Median Earnings
$1,459
Median Rent
$435,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering a 1BR/1BA unit and a 2BR/2BA unit, each with private entrance and utilities.
Where is this duplex located?
The property is located at 234 /236 Colonia Ln E Nokomis, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Duplex built in 1947 with a 1BR/1BA unit and a 2BR/2BA unit; Each unit has its own private entrance and separate utilities; A/C replaced in 2023
