Remodeled Condo with
For Sale
$639,000
Pending
1857 San Marco Road A308, Marco Island, FL 34145
Elegant 3-bedroom condo with modern upgrades and convenient amenities.
Property Size2,354 SF
Days on Market577
Property Features for 1857 San Marco Road A308
General Information
Standard status
Pending
Size
2,354 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$2,855
Building Details
Year Built
2004
Listing Agency:
John R Wood Properties
(239) 248-4163
Listed By:
Scott Needles · License #267500056
(239) 248-4163
Source:
Exitrealty
Added: Jan 10, 2025
Changed: Aug 8
Last Checked: Aug 10 at 4:54AM
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 John R Wood Properties
Investment Insights
Based on property information with market context.
This elegant 3rd-floor end unit offers luxury living and is accessible via elevator. The pet-friendly residence accommodates dogs up to 50lbs. It features 3 bedrooms, 3 baths, and a versatile great room suitable for a home office or formal dining area. The property includes 2-car garage parking and a private storage unit. The home has been completely remodeled and features high ceilings, sleek porcelain flooring, and plantation shutters. The gourmet kitchen is equipped with stainless steel appliances, while crystal lighting and decor add sophistication. Impact windows provide added security. A full-size laundry room and a large tiled lanai offer practicality and space for relaxation. The property size is 2354 square feet.
Key Highlights
- Completely remodeled throughout with high‑end finishes including porcelain flooring, stainless steel appliances, and crystal lighting.
- Spacious 3‑bedroom, 3‑bath end unit with a versatile great room.
- Pet‑friendly for dogs up to 50lbs.
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
$31,961
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
5.00%
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%
$639,220
$639.2K
Cap Rate 7%
$456,586
$456.6K
Cap Rate 9%
$355,122
$355.1K
Market Conditions
NOI Build-Up for 2,354 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
$61.3K $26.04/SF
− Vacancy
−$3.2K −$1.35/SF
EGI
$58.1K $24.69/SF
− OpEx
−$26.1K −$11.11/SF
NOI
$32.0K $13.58/SF
Area
Collier County, FL
Vacancy
5.20%
Lease Rate
$26.04 /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%
$639,220
Cap Rate 7%
$456,586
Cap Rate 9%
$355,122
Alternative Uses
Best Use
Apartment 5plus
$456.6K
$399.5K – $532.7K
NOI $31,961 @ 7.0% cap · market cap 5.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.8K
$826.7K – $1.10M
NOI $66,134 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
251
Businesses Nearby
Explore this area
Business Placement
Demographics for 34145, FL
15,717
Population
18,436
Households
0.9
Avg Household Size
66
Median Age
48%
College-Educated
97%
High-School Grad
16.3 sq mi
ZIP Area
964
Density / Sq Mi
$104,105
Median Household Income
$53,813
Median Earnings
$1,955
Median Rent
$866,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Elegant 3-bedroom condo with modern upgrades and convenient amenities.
Where is this residential income property located?
The property is located at 1857 San Marco Road A308 Marco Island, FL.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Completely remodeled throughout with high‑end finishes including porcelain flooring, stainless steel appliances, and crystal lighting.; Spacious 3‑bedroom, 3‑bath end unit with a versatile great room.; Pet‑friendly for dogs up to 50lbs.
