Duplex with Enclosed
2110 PALM TERRACE, Sarasota, FL 34231
For Sale
$449,777
Both residences have two bedrooms, one bathroom, and central air conditioning.
Property Size1,680 SF
Price / SF$267.72
Days on Market144
Property Features for 2110 PALM TERRACE
General Information
Standard status
Size
Property subtype
Zoning
Lease Term
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
Ceiling Fans(s)
Living Room/Dining Room Combo
Open Floorplan
Thermostat
Private Yard
Sidewalk
Storage
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
RELAX PROPERTY GROUP, LLC
(941) 923-7200
Listed By:
Dane Peterson · License #3346860
(239) 357-5692
Source:
Debbieheringrealty
Added: Jun 19
Changed: Nov 8
Last Checked: Nov 8 at 4:24PM
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 RELAX PROPERTY GROUP, LLC
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Investment Insights
Based on property information with market context.
Built in 1952, this 1,680-square-foot duplex contains two 2-bedroom, 1-bathroom residences. Each has an enclosed lanai, tile flooring, a large kitchen, and central air conditioning. Laundry hookups are located in the front unit’s lanai and in the rear unit. The rear residence also has a two-car carport and dedicated storage. The property is zoned RSF3, and the units have fireplaces. A metal roof was installed in 2011, with HVAC work completed in 2021 and 2022.
At 2110 Palm Terrace in Sarasota, the property is described as minutes from Siesta Key Beach, downtown Sarasota, shopping, dining, and transit. The building is fenced along its back and side. Electricity is separately metered, while the owner pays for water.
At 2110 Palm Terrace in Sarasota, the property is described as minutes from Siesta Key Beach, downtown Sarasota, shopping, dining, and transit. The building is fenced along its back and side. Electricity is separately metered, while the owner pays for water.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,680 square feet; built in 1952
- Enclosed lanais at both entrances; laundry hookups in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,169
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,380
$343.4K
Cap Rate 7%
$245,271
$245.3K
Cap Rate 9%
$190,767
$190.8K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$27.2K $16.20/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$24.5K $14.60/SF
− OpEx
−$7.4K −$4.38/SF
NOI
$17.2K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,380
Cap Rate 7%
$245,271
Cap Rate 9%
$190,767
Alternative Uses
Best Use
Multifamily LT 5
$245.3K
$214.6K – $286.2K
NOI $17,169 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$218.6K
$191.3K – $255.0K
NOI $15,300 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$477.5K
$417.8K – $557.1K
NOI $33,423 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,150
Businesses Nearby
Explore this area
Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Sarasota, FL
Properties on Market for Duplexes in Sarasota
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms, one bathroom, and central air conditioning.
Where is this duplex located?
The property is located at 2110 PALM TERRACE Sarasota, FL.
What is the asking price?
The asking price for this property is $449,777.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,680 square feet; built in 1952; Enclosed lanais at both entrances; laundry hookups in both units
