Duplex Redevelopment
For Sale
$650,000
1824 WEBBER Street, Sarasota, FL 34239
MULTI_FAMILY - SARASOTA, FL
Property Size1,680 SF
Lot Size0.14 Acres
Price / SF$386.90
Days on Market106
Property Features for 1824 WEBBER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RSF3
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Laundry Room, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 2
Window features
Drapes
Pets allowed
Yes
Interior features
Ninguno
Appliances
Range, Refrigerator
Subdivision
POINSETTIA PARK 2
Elementary school
Southside Elementary
Middle school
Brookside Middle
High school
Sarasota High
Directions
From 41 head West on Webber.
Standard status
Active
APN
2039010104
Size
1,680 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 4 BLK A POINSETTIA PARK
Tax Annual Amount
7613
Legal Description
LOT 4 BLK A POINSETTIA PARK
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Zoned
Water source
Public
Building Details
Year built
1968
Floors in Building
1
Flooring type
Tile - Ceramic
Building materials
Frame
Roof type
Membrane
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Ryan Carson · License #3240511
(941) 685-2879
Added: Apr 27
Changed: Aug 1
Last Checked: Aug 10 at 12:06PM
MLS# A4691535
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Duplex property built in 1968 with frame construction and a membrane roof. The interior includes central heating and central air with zoned cooling, ceramic tile flooring, and a range and refrigerator. The existing structure is a grandfathered duplex that is in very poor condition and is best suited for teardown.
The site is located within city limits, where short-term rentals are acceptable. The lot measures 50' x 118' and is 0.14 acres. Public water and public sewer services are available.
Sold as is with right to inspect.
The site is located within city limits, where short-term rentals are acceptable. The lot measures 50' x 118' and is 0.14 acres. Public water and public sewer services are available.
Sold as is with right to inspect.
Key Highlights
- Grandfathered duplex built in 1968
- Structure is in very poor condition and best suited for teardown
- 50' x 118' lot on 0.14 acres
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
$22,069
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
3.40%
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%
$441,380
$441.4K
Cap Rate 7%
$315,271
$315.3K
Cap Rate 9%
$245,211
$245.2K
Market Conditions
NOI Build-Up for 1,680 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
$33.3K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$31.5K $18.77/SF
− OpEx
−$9.5K −$5.63/SF
NOI
$22.1K $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%
$441,380
Cap Rate 7%
$315,271
Cap Rate 9%
$245,211
Alternative Uses
Best Use
Multifamily LT 5
$315.3K
$275.9K – $367.8K
NOI $22,069 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$290.4K
$254.1K – $338.8K
NOI $20,328 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$494.0K
$432.3K – $576.4K
NOI $34,582 @ 7.0% cap · market cap 5.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 34239, FL
15,049
Population
8,044
Households
1.9
Avg Household Size
52
Median Age
45%
College-Educated
93%
High-School Grad
4.4 sq mi
ZIP Area
3,420
Density / Sq Mi
$76,378
Median Household Income
$42,017
Median Earnings
$1,522
Median Rent
$418,300
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 - Duplex on a RSF3-zoned lot with public water and sewer, in very poor condition and best suited for teardown.
Where is this duplex located?
The property is located at 1824 WEBBER Street Sarasota, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Grandfathered duplex built in 1968; Structure is in very poor condition and best suited for teardown; 50' x 118' lot on 0.14 acres
