Four-Unit Duplex
For Sale
$449,000
2503 10TH W STREET, Bradenton, FL 34205
Two separately metered duplexes offer four occupied residences with shared laundry areas and additional storage.
Property Size2,064 SF
Lot Size0.23 Acres
Price / SF$217.54
Days on Market514
Property Features for 2503 10TH W STREET
General Information
Standard status
Active
Size
2,064 SF
Lot size
0.23 Acres
Property subtype
Multi Family
Zoning
T4-O
Occupancy
100%
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,423
Amenities
shared laundry room
additional storage space
Building Details
Year Built
1956
Buildings
2
Listing Agency:
PREFERRED SHORE LLC
(941) 586-6402
Listed By:
Mike Griffin · License #3433612
(941) 586-6402
Source:
Exitrealty
Added: Apr 5, 2025
Changed: Aug 30
Last Checked: Aug 31 at 3:33PM
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 PREFERRED SHORE LLC
Investment Insights
Based on property information with market context.
This Bradenton property comprises two separately metered duplex structures with a combined four 1-bedroom, 1-bathroom units. Each building includes a shared laundry room with washer and dryer hookups, while additional storage supports the existing residential configuration. Recent property work includes newer roofs, blown-in insulation, and partial plumbing and electrical updates.
The improvements sit on a 10,001-square-foot lot at 2503 10th W Street and carry T4-O General Urban Open zoning from the City of Bradenton. All four units are occupied by long-term tenants under month-to-month leases. Bradenton Beach, Coquina Beach on Anna Maria Island, and downtown Bradenton are identified nearby, with downtown offering shops, restaurants, and cultural activities.
The improvements sit on a 10,001-square-foot lot at 2503 10th W Street and carry T4-O General Urban Open zoning from the City of Bradenton. All four units are occupied by long-term tenants under month-to-month leases. Bradenton Beach, Coquina Beach on Anna Maria Island, and downtown Bradenton are identified nearby, with downtown offering shops, restaurants, and cultural activities.
Key Highlights
- Four total 1‑bedroom, 1‑bathroom units across two duplexes
- Two separately metered duplex structures
- 10,001‑square‑foot lot zoned T4‑O General Urban Open
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
$27,114
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
6.04%
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%
$542,280
$542.3K
Cap Rate 7%
$387,343
$387.3K
Cap Rate 9%
$301,267
$301.3K
Market Conditions
NOI Build-Up for 2,064 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
$40.9K $19.80/SF
− Vacancy
−$2.1K −$1.03/SF
EGI
$38.7K $18.77/SF
− OpEx
−$11.6K −$5.63/SF
NOI
$27.1K $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%
$542,280
Cap Rate 7%
$387,343
Cap Rate 9%
$301,267
Alternative Uses
Best Use
Multifamily LT 5
$387.3K
$338.9K – $451.9K
NOI $27,114 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$356.8K
$312.2K – $416.2K
NOI $24,974 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$607.0K
$531.1K – $708.1K
NOI $42,487 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered duplexes offer four occupied residences with shared laundry areas and additional storage.
Where is this duplex located?
The property is located at 2503 10TH W STREET Bradenton, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Four total 1‑bedroom, 1‑bathroom units across two duplexes; Two separately metered duplex structures; 10,001‑square‑foot lot zoned T4‑O General Urban Open
