New-Build Duplex with Open
For Sale
$499,900
27237/2724 PARTIN Drive, Punta Gorda, FL 33983
Two residences feature contemporary finishes and washer and dryer connections.
Property Size2,104 SF
Price / SF$237.60
Days on Market774
Property Features for 27237/2724 PARTIN Drive
General Information
Standard status
Active
Size
2,104 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$647
Listing Agency:
SUNCOAST PROPERTY MANAGEMENT LLC
(904) 517-5939
Listed By:
JAMES NELSON SHEILS · License #3474216
Source:
Exitrealty
Added: Jul 19, 2024
Changed: Aug 30
Last Checked: Aug 31 at 1:45PM
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 SUNCOAST PROPERTY MANAGEMENT LLC
Investment Insights
Based on property information with market context.
This newly built duplex contains two residences, each with two bedrooms and two baths. The layouts use an open-concept design, with kitchens appointed with maple cabinetry, granite worktops, and stainless-steel appliances including a range, range hood, dishwasher, and refrigerator. Washer and dryer connections are provided in both units.
Interior finishes include granite bathroom counters, knockdown ceilings, textured walls, and vinyl plank flooring throughout. The property measures 2104 square feet and is located in Punta Gorda, Florida.
Interior finishes include granite bathroom counters, knockdown ceilings, textured walls, and vinyl plank flooring throughout. The property measures 2104 square feet and is located in Punta Gorda, Florida.
Key Highlights
- Duplex totaling 2104 square feet
- Each unit includes two bedrooms and two baths
- Open‑concept layouts with maple cabinetry and granite kitchen counters
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
$20,353
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
4.07%
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%
$407,060
$407.1K
Cap Rate 7%
$290,757
$290.8K
Cap Rate 9%
$226,144
$226.1K
Market Conditions
NOI Build-Up for 2,104 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
$35.9K $17.04/SF
− Vacancy
−$6.8K −$3.22/SF
EGI
$29.1K $13.82/SF
− OpEx
−$8.7K −$4.15/SF
NOI
$20.4K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$407,060
Cap Rate 7%
$290,757
Cap Rate 9%
$226,144
Alternative Uses
Best Use
Multifamily LT 5
$290.8K
$254.4K – $339.2K
NOI $20,353 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$265.4K
$232.2K – $309.6K
NOI $18,575 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$688.9K
$602.8K – $803.7K
NOI $48,224 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
Explore this area
Business Placement
Demographics for 33983, FL
16,124
Population
9,114
Households
1.8
Avg Household Size
58
Median Age
22%
College-Educated
94%
High-School Grad
10.6 sq mi
ZIP Area
1,521
Density / Sq Mi
$67,705
Median Household Income
$36,748
Median Earnings
$1,357
Median Rent
$324,100
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 residences feature contemporary finishes and washer and dryer connections.
Where is this duplex located?
The property is located at 27237/2724 PARTIN Drive Punta Gorda, FL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Duplex totaling 2104 square feet; Each unit includes two bedrooms and two baths; Open‑concept layouts with maple cabinetry and granite kitchen counters
