Renovated Duplex with Upgraded
New
For Sale
$650,000
1802 Robinhood St, Sarasota, FL 34231
Two updated units offer modern finishes, newer building systems, and flexibility for occupancy or rental use.
Property Size1,440 SF
Price / SF$451.39
Days on Market7
Property Features for 1802 Robinhood St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
2
Building Details
Year Built
1970
Listing Agency:
SAVVY AVENUE, LLC
(888) 490-1268
Listed By:
Moe Mossa · License #496503916
Source:
Susannelosso
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 11:49AM
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 SAVVY AVENUE, LLC
Investment Insights
Based on property information with market context.
This duplex, built in 1970, has undergone a comprehensive renovation with permitted work throughout. Improvements include a shingle roof, AC systems, complete electrical rewiring, replacement plumbing, and impact-rated windows and doors. Both units have tile flooring, new drywall, refreshed cabinetry, and stainless steel appliances, creating updated interiors suitable for immediate occupancy or rental use.
The property is positioned on a quiet dead-end street in Sarasota, providing a residential setting with access to established area amenities. It is located 3.8 miles from the beach and 2.4 miles from Sarasota Memorial Hospital, with shopping, dining, and local restaurants nearby. The duplex format supports either an owner-occupant arrangement or continued income-producing use.
The property is positioned on a quiet dead-end street in Sarasota, providing a residential setting with access to established area amenities. It is located 3.8 miles from the beach and 2.4 miles from Sarasota Memorial Hospital, with shopping, dining, and local restaurants nearby. The duplex format supports either an owner-occupant arrangement or continued income-producing use.
Key Highlights
- Duplex with 2 renovated units
- Permitted renovation work includes roof, AC, electrical, plumbing, windows, and doors
- Impact‑rated windows and doors provide hurricane protection
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
$18,917
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
2.91%
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%
$378,340
$378.3K
Cap Rate 7%
$270,243
$270.2K
Cap Rate 9%
$210,189
$210.2K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$27.0K $18.77/SF
− OpEx
−$8.1K −$5.63/SF
NOI
$18.9K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /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%
$378,340
Cap Rate 7%
$270,243
Cap Rate 9%
$210,189
Alternative Uses
Best Use
Multifamily LT 5
$270.2K
$236.5K – $315.3K
NOI $18,917 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$248.9K
$217.8K – $290.4K
NOI $17,424 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$423.5K
$370.5K – $494.0K
NOI $29,642 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
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 - Two updated units offer modern finishes, newer building systems, and flexibility for occupancy or rental use.
Where is this duplex located?
The property is located at 1802 Robinhood St Sarasota, 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: Duplex with 2 renovated units; Permitted renovation work includes roof, AC, electrical, plumbing, windows, and doors; Impact‑rated windows and doors provide hurricane protection
