Custom Duplex with Three-Car
For Sale
Contact for pricing
1755 7TH ST, Sarasota, FL 34236
Two independent residences support flexible living arrangements and short-term rental use near downtown Sarasota.
Property Size4,451 SF
Price / SF$430.68
Days on Market124
Property Features for 1755 7TH ST
General Information
Standard status
Active
Size
4,451 SF
Total Parking Spaces
3
Elevators
Yes
Property subtype
Half Duplex
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$32,680
Amenities
outdoor kitchen
hot tub
solar power
tankless water heaters
private laundry
Building Details
Building Size
4,451 SF
Year Built
2023
Buildings
1
Listing Agency:
DANIEL CRAPPS AGENCY, INC.
(386) 397-3002
Listed By:
Daniel Crapps · License #18124
Source:
Thefullerproperties
Added: Apr 17
Changed: Aug 11
Last Checked: Aug 17 at 2:05PM
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 DANIEL CRAPPS AGENCY, INC.
Investment Insights
Based on property information with market context.
Completed in 2023, this custom duplex contains two fully separate residences of approximately 2,200 square feet each, combining for more than 4,400 square feet of living space. Each residence includes two bedrooms, two bathrooms, private laundry, elevated ceilings, and an open, light-filled layout. Interior features include Thermador appliances, gas cooking, dual dishwashers, walk-in pantry space, a built-in coffee and wine bar, and Bosch appliances in the upper residence. Elevator access and a fully custom handicap-accessible design add functional flexibility.
Outdoor amenities include a private courtyard with an outdoor kitchen and hot tub, along with a large second-level balcony. The property also provides solar power, natural gas tankless water heaters, and a rare three-car garage accessed from the alley. Located in Gillespie Park near downtown Sarasota, the property is zoned for short-term rentals and offers two independent living environments within a single duplex asset.
Outdoor amenities include a private courtyard with an outdoor kitchen and hot tub, along with a large second-level balcony. The property also provides solar power, natural gas tankless water heaters, and a rare three-car garage accessed from the alley. Located in Gillespie Park near downtown Sarasota, the property is zoned for short-term rentals and offers two independent living environments within a single duplex asset.
Key Highlights
- 2023 custom duplex with two independent residences
- More than 4,400 sq ft of combined living space; each residence is approximately 2,200 sq ft
- Each residence offers 2 bedrooms, 2 bathrooms, and private laundry
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
$57,801
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
3.05%
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%
$1,156,020
$1.2M
Cap Rate 7%
$825,729
$825.7K
Cap Rate 9%
$642,233
$642.2K
Market Conditions
NOI Build-Up for 4,400 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
$87.1K $19.80/SF
− Vacancy
−$4.5K −$1.03/SF
EGI
$82.6K $18.77/SF
− OpEx
−$24.8K −$5.63/SF
NOI
$57.8K $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%
$1,156,020
Cap Rate 7%
$825,729
Cap Rate 9%
$642,233
Alternative Uses
Best Use
Multifamily LT 5
$825.7K
$722.5K – $963.4K
NOI $57,801 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$760.6K
$665.5K – $887.3K
NOI $53,239 @ 7.0% cap · market cap 2.81%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,573 @ 7.0% cap · market cap 4.78%
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
4,705
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences support flexible living arrangements and short-term rental use near downtown Sarasota.
Where is this duplex located?
The property is located at 1755 7TH ST Sarasota, FL.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 2023 custom duplex with two independent residences; More than 4,400 sq ft of combined living space; each residence is approximately 2,200 sq ft; Each residence offers 2 bedrooms, 2 bathrooms, and private laundry
