Renovated Two-Unit
2655 BAY Street, Sarasota, FL 34237
For Sale
New
$1,089,900
Residential Income, SARASOTA, FL
Property Size3,432 SF
Lot Size0.23 Acres
Price / SF$317.57
Days on Market1
Property Features for 2655 BAY Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Patio and Porch features
Pets allowed
Interior features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
second-story deck
covered lanai
smart thermostats
doorbell system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
KELLER WILLIAMS ON THE WATER S · Keller Williams Realty
(941) 803-7522
Listed By:
David Litvinov
(773) 294-4003
Added: Nov 7
Last Checked: Nov 7 at 3:06PM
MLS# A4712356
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.
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Investment Insights
Based on property information with market context.
This renovated duplex contains 3,432 square feet across two residences on a 0.23-acre parcel. The primary home has six bedrooms and five bathrooms, with two bedrooms on the ground floor and four en-suite bedrooms upstairs. A separate, attached apartment provides one bedroom and one bathroom, and each residence has its own utilities. Interior finishes include wood and tile flooring, solid wood cabinetry, and a kitchen with GE appliances and waterfall quartz counters. Recent improvements include a new roof, impact-rated windows, and updated plumbing, water service, sewer, and electrical systems.
The property is east of Downtown Sarasota and directly beside the Legacy Trail. Outdoor features include a second-story deck, covered lanai, and a spacious backyard. A circular driveway, covered carport, and additional off-street parking serve the property. RSF3 zoning is identified for the parcel.
The property is east of Downtown Sarasota and directly beside the Legacy Trail. Outdoor features include a second-story deck, covered lanai, and a spacious backyard. A circular driveway, covered carport, and additional off-street parking serve the property. RSF3 zoning is identified for the parcel.
Key Highlights
- Two residences totaling 3,432 square feet on 0.23 acres
- Main home offers 6 bedrooms and 5 bathrooms
- Attached legal apartment includes 1 bedroom and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,074
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$701,480
$701.5K
Cap Rate 7%
$501,057
$501.1K
Cap Rate 9%
$389,711
$389.7K
Market Conditions
NOI Build-Up for 3,432 SF
Gross rent
$55.6K $16.20/SF
− Vacancy
−$5.5K −$1.60/SF
EGI
$50.1K $14.60/SF
− OpEx
−$15.0K −$4.38/SF
NOI
$35.1K $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%
$701,480
Cap Rate 7%
$501,057
Cap Rate 9%
$389,711
Alternative Uses
Best Use
Multifamily LT 5
$501.1K
$438.4K – $584.6K
NOI $35,074 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$446.5K
$390.7K – $520.9K
NOI $31,255 @ 7.0% cap · market cap 2.87%
Theoretical Best
Office A
$975.4K
$853.5K – $1.14M
NOI $68,278 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 34237, FL
16,740
Population
9,194
Households
1.8
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
4,292
Density / Sq Mi
$63,133
Median Household Income
$35,044
Median Earnings
$1,524
Median Rent
$234,400
Median Home Value
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Market
Average Price Trend$/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 - The attached apartment has separate utilities from the larger main residence.
Where is this duplex located?
The property is located at 2655 BAY Street Sarasota, FL.
What is the asking price?
The asking price for this property is $1,089,900.
What are key features of this property?
This property features: Two residences totaling 3,432 square feet on 0.23 acres; Main home offers 6 bedrooms and 5 bathrooms; Attached legal apartment includes 1 bedroom and 1 bathroom
