Triplex Property with DTE
New
For Sale
$479,900
1672 10TH STREET, Sarasota, FL 34236
Three separate units feature kitchens and combined living and dining areas in Sarasota’s Gillespie Park area.
Property Size1,983 SF
Price / SF$242.01
Days on Market4
Property Features for 1672 10TH STREET
General Information
Standard status
Active
Size
1,983 SF
Property subtype
Half Duplex
Amenities
0.11 acres, Dimensions: 50x100, Irregular Lot
Public Sewer
Additional parcels description:, Parcel Number: 2026020027, Public Survey Range: 18E, Public Survey Section: 19, Annual Amount: $7,547.97, Tax Block: B, Tax Book Number: 1-18, Legal Description: LOT 17 BLK B PETROUTSA BROTHERS SUB, Lot: 17, Year: 2025, Zoning: DTE
Tile
Central Air
Electric
Listing ID: MFRO6433142, Standard Status: Active, MLS Status: Active, Property Subtype: Half Duplex, On market as of 2026-08-13, Special Conditions: Real Estate Owned
6 total bedrooms
Built in 1956, Living area: 1983, Living area units: Square Feet, Building faces North, 1 storey, Levels: One, Construction Materials: Block
Subdivision: PETROUTSA BROTHERS SUB, MLS Area (Major): 34236 - Sarasota, County/Parish: Sarasota
Fixer, City
5 total bathrooms, 3 full bathrooms, 2 half bathrooms
Electricity Available, Electricity Connected, Sewer Available, Sewer Connected, Water Available, Water Connected, Water Source: Public
Slab
Close Of Escrow
Road Surface: Asphalt
Patio/Porch Features: None, None
Open Floorplan
None, Other equipment: None
Building Details
Year Built
1956
Listing Agency:
ALL FLORIDA PROPERTY GROUP,INC
(321) 622-5211
Listed By:
Melinda Foley · License #523829
Source:
Miharaandassociates
Added: Aug 13
Changed: Aug 16
Last Checked: Aug 16 at 6:07AM
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 ALL FLORIDA PROPERTY GROUP,INC
Investment Insights
Based on property information with market context.
Built in 1956, this 1,983-square-foot triplex contains three separate residential units. The configuration totals 6 bedrooms and 3 baths, with each unit arranged around a kitchen and combined living and dining area. The property is suited to a renovation-focused repositioning of an existing multifamily asset.
The property is located at 1672 10th Street in Sarasota’s Gillespie Park area, near downtown Sarasota, restaurants, shopping, entertainment, and area beaches. DTE zoning is in place. Buyers should independently confirm zoning, dimensions, allowable uses, and redevelopment parameters with the appropriate governing authorities.
The property is located at 1672 10th Street in Sarasota’s Gillespie Park area, near downtown Sarasota, restaurants, shopping, entertainment, and area beaches. DTE zoning is in place. Buyers should independently confirm zoning, dimensions, allowable uses, and redevelopment parameters with the appropriate governing authorities.
Key Highlights
- 1,983 SF triplex with 3 separate units
- Unit mix totals 6 bedrooms and 3 baths
- Each unit includes a kitchen with combined living and dining areas
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
$26,050
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
5.43%
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%
$521,000
$521.0K
Cap Rate 7%
$372,143
$372.1K
Cap Rate 9%
$289,444
$289.4K
Market Conditions
NOI Build-Up for 1,983 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
$39.3K $19.80/SF
− Vacancy
−$2.0K −$1.03/SF
EGI
$37.2K $18.77/SF
− OpEx
−$11.2K −$5.63/SF
NOI
$26.0K $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%
$521,000
Cap Rate 7%
$372,143
Cap Rate 9%
$289,444
Alternative Uses
Best Use
Multifamily LT 5
$372.1K
$325.6K – $434.2K
NOI $26,050 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$342.8K
$299.9K – $399.9K
NOI $23,994 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$583.1K
$510.3K – $680.3K
NOI $40,820 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,997
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
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?
Triplex - Three separate units feature kitchens and combined living and dining areas in Sarasota’s Gillespie Park area.
Where is this triplex located?
The property is located at 1672 10TH STREET Sarasota, FL.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 1,983 SF triplex with 3 separate units; Unit mix totals 6 bedrooms and 3 baths; Each unit includes a kitchen with combined living and dining areas
