Waterfront Turnkey Studio
New
For Sale
$120,000
7150 N TAMIAMI Trl N409, Sarasota, FL 34243
Furnished second-floor residence with marina access, resort amenities, and direct Gulf access.
Property Size360 SF
Days on Market3
Property Features for 7150 N TAMIAMI Trl N409
General Information
Standard status
Active
Size
360 SF
Property subtype
Commercial
Additional Details
Furnished
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$2,048
Amenities
restaurant
fitness center
arcade
business center
free coffee bar
laundry room
waterside heated pool
live music
Tiki Bar & Grill
marina access
boat slips
charters
balcony
Building Details
Building Size
360 SF
Year Built
1959
Stories
1
Listing Agency:
FINE PROPERTIES
(919) 444-1648
Listed By:
Sandra Mayo · License #3472014
(919) 444-1648
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 12 at 6:19AM
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 FINE PROPERTIES
Investment Insights
Based on property information with market context.
This second-floor studio condo-hotel residence is located within the Ramada by Wyndham Waterfront Resort and is offered fully furnished. The layout includes a king bed, queen bed, refrigerator, microwave, balcony seating, and a storage closet. Residents and guests have access to the resort’s restaurant, fitness center, arcade, business center, coffee bar, laundry room, heated waterside pool, live music, and Tiki Bar & Grill.
The property also provides direct marina access, with boat slips and charters available, along with access to the Gulf. Daily rentals are permitted, including Airbnb and VRBO listings, and on-site management can assist with bookings, cleaning, and maintenance. HOA fees include electric, cable, internet, water, sewer, phone, pest control, and exterior maintenance. The residence is at 7150 N TAMIAMI Trl N409 in Sarasota, near shopping, dining, entertainment, beaches, downtown Sarasota, St. Armand's Circle, and SRQ International Airport. The building was constructed in 1959.
The property also provides direct marina access, with boat slips and charters available, along with access to the Gulf. Daily rentals are permitted, including Airbnb and VRBO listings, and on-site management can assist with bookings, cleaning, and maintenance. HOA fees include electric, cable, internet, water, sewer, phone, pest control, and exterior maintenance. The residence is at 7150 N TAMIAMI Trl N409 in Sarasota, near shopping, dining, entertainment, beaches, downtown Sarasota, St. Armand's Circle, and SRQ International Airport. The building was constructed in 1959.
Key Highlights
- Second‑floor studio condo‑hotel residence at a waterfront resort
- Turnkey furnished with king bed, queen bed, refrigerator, microwave, balcony seating, and storage closet
- Daily rentals permitted, including Airbnb and VRBO listings
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
$4,356
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
3.63%
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%
$87,120
$87.1K
Cap Rate 7%
$62,229
$62.2K
Cap Rate 9%
$48,400
$48.4K
Market Conditions
NOI Build-Up for 360 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
$8.4K $23.28/SF
− Vacancy
−$461 −$1.28/SF
EGI
$7.9K $22.00/SF
− OpEx
−$3.6K −$9.90/SF
NOI
$4.4K $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%
$87,120
Cap Rate 7%
$62,229
Cap Rate 9%
$48,400
Alternative Uses
Best Use
Apartment 5plus
$62.2K
$54.5K – $72.6K
NOI $4,356 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$105.9K
$92.6K – $123.5K
NOI $7,411 @ 7.0% cap · market cap 6.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
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?
Short term rental property - Furnished second-floor residence with marina access, resort amenities, and direct Gulf access.
Where is this short term rental property located?
The property is located at 7150 N TAMIAMI Trl N409 Sarasota, FL.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Second‑floor studio condo‑hotel residence at a waterfront resort; Turnkey furnished with king bed, queen bed, refrigerator, microwave, balcony seating, and storage closet; Daily rentals permitted, including Airbnb and VRBO listings
