Palmetto Multifamily Property for
For Sale
$95,000
247 PALM Ln, Palmetto, FL 34221
Multifamily property available in Palmetto, Florida.
Property Size714 SF
Lot Size0.06 Acres
Days on Market268
Property Features for 247 PALM Ln
General Information
Standard status
Active
Size
714 SF
Lot size
0.06 Acres
Property subtype
Residential
Taxes and HOA fees
Annual Taxes
$1,011
Building Details
Building Size
714 SF
Year Built
1967
Listing Agency:
(941) 909-3095
Listed By:
Kerre Allman · License #3292478
(941) 909-3095
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 9
Last Checked: Aug 23 at 7:45AM
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 Kerre Allman
Investment Insights
Based on property information with market context.
A multifamily property is available for sale in Palmetto, Florida. The property is located at 247 PALM Ln, Palmetto, FL 34221.
Key Highlights
- Year Built: 1967
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
$8,639
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
9.09%
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%
$172,780
$172.8K
Cap Rate 7%
$123,414
$123.4K
Cap Rate 9%
$95,989
$96.0K
Market Conditions
NOI Build-Up for 714 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
$16.6K $23.28/SF
− Vacancy
−$914 −$1.28/SF
EGI
$15.7K $22.00/SF
− OpEx
−$7.1K −$9.90/SF
NOI
$8.6K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /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%
$172,780
Cap Rate 7%
$123,414
Cap Rate 9%
$95,989
Alternative Uses
Best Use
Apartment 5plus
$123.4K
$108.0K – $144.0K
NOI $8,639 @ 7.0% cap · market cap 9.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$210.0K
$183.7K – $245.0K
NOI $14,698 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 34221, FL
48,082
Population
24,812
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
91%
High-School Grad
53.9 sq mi
ZIP Area
892
Density / Sq Mi
$74,314
Median Household Income
$40,072
Median Earnings
$1,459
Median Rent
$298,200
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?
Apartment building - Multifamily property available in Palmetto, Florida.
Where is this apartment building located?
The property is located at 247 PALM Ln Palmetto, FL.
What is the asking price?
The asking price for this property is $95,000.
What are key features of this property?
This property features: Year Built: 1967
