Duplex With Mini-Split
New
For Sale
$269,000
720 22nd Ave W, Bradenton, FL 34205
Two leased one-bedroom residences feature individual mini-split air conditioning and heating systems.
Property Size1,656 SF
Price / SF$162.44
Days on Market7
Property Features for 720 22nd Ave W
General Information
Standard status
Active
Size
1,656 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,150
Building Details
Year Built
1950
Buildings
1
Construction
frame
Tenancy
Multi
Listing Agency:
WAGNER REALTY
(646) 630-0923
Listed By:
Austin Oakes · License #3631068
Source:
Susannelosso
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 11:36AM
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 WAGNER REALTY
Investment Insights
Based on property information with market context.
This 1,656-square-foot duplex, constructed in 1950, contains two separate one-bedroom, one-bath units. Both residences are leased, and each has its own newly installed mini-split air conditioning and heating system. The frame-built property is described as being in overall good cosmetic condition, with water paid by the owner.
The property is located at 720 22nd Ave W in Bradenton, Florida. The building was tented in 2025, providing a documented recent treatment milestone for the asset. Its two-unit configuration offers a straightforward multifamily layout with established occupancy and separate residential spaces.
The property is located at 720 22nd Ave W in Bradenton, Florida. The building was tented in 2025, providing a documented recent treatment milestone for the asset. Its two-unit configuration offers a straightforward multifamily layout with established occupancy and separate residential spaces.
Key Highlights
- Two‑unit duplex with one 1‑bedroom, 1‑bath residence per unit
- 1,656 square feet of building area
- Both units are leased
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
$21,754
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
8.09%
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%
$435,080
$435.1K
Cap Rate 7%
$310,771
$310.8K
Cap Rate 9%
$241,711
$241.7K
Market Conditions
NOI Build-Up for 1,656 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
$32.8K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$31.1K $18.77/SF
− OpEx
−$9.3K −$5.63/SF
NOI
$21.8K $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%
$435,080
Cap Rate 7%
$310,771
Cap Rate 9%
$241,711
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$271.9K – $362.6K
NOI $21,754 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$286.2K
$250.5K – $334.0K
NOI $20,037 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$487.0K
$426.1K – $568.1K
NOI $34,088 @ 7.0% cap · market cap 12.67%
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
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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 leased one-bedroom residences feature individual mini-split air conditioning and heating systems.
Where is this duplex located?
The property is located at 720 22nd Ave W Bradenton, FL.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two‑unit duplex with one 1‑bedroom, 1‑bath residence per unit; 1,656 square feet of building area; Both units are leased
