Renovated Duplex with
For Sale
$595,000
Pending
4713 TOURNAMENT BOULEVARD, Sarasota, FL 34243
Two residential units feature private garages, fenced outdoor areas, and flexible lease terms.
Property Size2,734 SF
Days on Market552
Property Features for 4713 TOURNAMENT BOULEVARD
General Information
Standard status
Pending
Size
2,734 SF
Total Parking Spaces
2
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,254
Amenities
fenced backyard
Building Details
Year Built
1963
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
(941) 735-0404
Listed By:
Janice Politz · License #3390773
(941) 735-0404
Source:
Exitrealty
Added: Feb 26, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:50PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This renovated duplex contains two 2-bedroom, 2-bathroom units, with each residence offering its own private garage. The property also includes a fenced backyard, while privacy fencing separates the outdoor areas associated with the units. Built in 1963, the duplex provides 2,734 square feet of residential improvements.
Located at 4713 Tournament Boulevard in Sarasota, the property is situated in a residential neighborhood. No minimum lease restrictions are stated, allowing flexibility in structuring occupancy. The combination of two separately configured units, individual garages, and private outdoor space defines the property's physical layout.
Located at 4713 Tournament Boulevard in Sarasota, the property is situated in a residential neighborhood. No minimum lease restrictions are stated, allowing flexibility in structuring occupancy. The combination of two separately configured units, individual garages, and private outdoor space defines the property's physical layout.
Key Highlights
- Two 2‑bedroom, 2‑bathroom units
- Private garage assigned to each unit
- Renovated duplex with 2,734 square feet
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
$35,915
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
6.04%
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%
$718,300
$718.3K
Cap Rate 7%
$513,071
$513.1K
Cap Rate 9%
$399,056
$399.1K
Market Conditions
NOI Build-Up for 2,734 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
$54.1K $19.80/SF
− Vacancy
−$2.8K −$1.03/SF
EGI
$51.3K $18.77/SF
− OpEx
−$15.4K −$5.63/SF
NOI
$35.9K $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%
$718,300
Cap Rate 7%
$513,071
Cap Rate 9%
$399,056
Alternative Uses
Best Use
Multifamily LT 5
$513.1K
$448.9K – $598.6K
NOI $35,915 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$472.6K
$413.5K – $551.4K
NOI $33,081 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$804.0K
$703.5K – $938.0K
NOI $56,279 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
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?
Duplex - Two residential units feature private garages, fenced outdoor areas, and flexible lease terms.
Where is this duplex located?
The property is located at 4713 TOURNAMENT BOULEVARD Sarasota, FL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two 2‑bedroom, 2‑bathroom units; Private garage assigned to each unit; Renovated duplex with 2,734 square feet
