Corner Multifamily
For Sale
$495,000
1608 1610 1612 11TH STREET W, Bradenton, FL 34205
Multifamily property with parking areas along 11th Street and 17th Avenue West.
Property Size2,077 SF
Price / SF$238.32
Days on Market165
Property Features for 1608 1610 1612 11TH STREET W
General Information
Standard status
Active
Size
2,077 SF
Property subtype
Residential Income
Zoning
R3B/VAOD
Taxes and HOA fees
Annual Taxes
$5,222
Amenities
Other, Wall/Window Unit(s)
Ductless
Crawl Space
Building Details
Year Built
1948
Listing Agency:
MICHAEL SAUNDERS & COMPANY
(941) 920-2247
Listed By:
Cathy Palmer · License #3324046
(941) 920-2247
Source:
Evrealestate
Added: Mar 19
Changed: Aug 30
Last Checked: Aug 30 at 11:39AM
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 MICHAEL SAUNDERS & COMPANY
Investment Insights
Based on property information with market context.
This multifamily property at 1608, 1610, and 1612 11th Street West includes 2,077 square feet of property area and dates to 1948. Interior features include ductless systems, wall/window unit(s), and crawl space construction. The property is zoned R3B/VAOD.
Located at the corner of 17th Avenue West and 11th Street West in Manatee County, the property has parking between the buildings on 11th Street and additional parking along 17th Avenue West. Access is available from 17th Avenue West, with the site reached from 14th Street West via 17th Avenue West.
Located at the corner of 17th Avenue West and 11th Street West in Manatee County, the property has parking between the buildings on 11th Street and additional parking along 17th Avenue West. Access is available from 17th Avenue West, with the site reached from 14th Street West via 17th Avenue West.
Key Highlights
- Multifamily property totaling 2,077 square feet
- Three street‑numbered components: 1608, 1610, and 1612 11th Street West
- Corner position at 17th Avenue West and 11th Street West
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
$25,131
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
5.08%
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%
$502,620
$502.6K
Cap Rate 7%
$359,014
$359.0K
Cap Rate 9%
$279,233
$279.2K
Market Conditions
NOI Build-Up for 2,077 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
$48.4K $23.28/SF
− Vacancy
−$2.7K −$1.28/SF
EGI
$45.7K $22.00/SF
− OpEx
−$20.6K −$9.90/SF
NOI
$25.1K $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%
$502,620
Cap Rate 7%
$359,014
Cap Rate 9%
$279,233
Alternative Uses
Best Use
Apartment 5plus
$359.0K
$314.1K – $418.9K
NOI $25,131 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.8K
$534.4K – $712.6K
NOI $42,755 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
971
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?
Multifamily property - Multifamily property with parking areas along 11th Street and 17th Avenue West.
Where is this multifamily property located?
The property is located at 1608 1610 1612 11TH STREET W Bradenton, FL.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Multifamily property totaling 2,077 square feet; Three street‑numbered components: 1608, 1610, and 1612 11th Street West; Corner position at 17th Avenue West and 11th Street West
