Updated Three-Bedroom Bayfront
New
For Sale
$350,000
2725 TERRA CEIA BAY BOULEVARD #201, Palmetto, FL 34221
Second-floor residence with elevator access, screened patio, and west-facing views across Terra Ceia Bay.
Property Size1,486 SF
Price / SF$235.53
Days on Market4
Property Features for 2725 TERRA CEIA BAY BOULEVARD #201
General Information
Standard status
Active
Size
1,486 SF
Elevators
Yes
Property subtype
Condo - Hotel
Additional Details
Highway Access
Yes
Multifamily Units
1
Amenities
elevator
screened patio
washer/dryer
golf course
tennis courts
heated pool
water access
waterfront fitness center
trails
Building Details
Year Built
1995
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Kamla McGregor Crattic · License #3480797
(321) 423-9254
Source:
Endlesssummerrealty
Added: Oct 18
Changed: Oct 21
Last Checked: Oct 20 at 8:02PM
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 LPT REALTY, LLC
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Investment Insights
Based on property information with market context.
This 1,486-square-foot condominium has three bedrooms, two bathrooms, and an open floor plan. The residence was updated in May 2024, including porcelain tile flooring throughout, refreshed kitchen cabinetry and appliances, and improvements to the bedrooms and bathrooms. A new AC unit was installed in October 2024, followed by a new water heater in December 2024. The second-floor unit is served by an elevator and includes a screened patio with a washer, dryer, and storage space.
The property sits along Terra Ceia Bay in a gated community with a 500-foot fishing pier, boardwalk, nature trail, mangroves, and water access. Community amenities include a golf course, tennis courts, heated pool with changing rooms, and a waterfront fitness center; some amenities require separate membership. The address is minutes from the I-75 and I-275 interchanges, with access toward St. Petersburg, Tampa, and Sarasota.
The property sits along Terra Ceia Bay in a gated community with a 500-foot fishing pier, boardwalk, nature trail, mangroves, and water access. Community amenities include a golf course, tennis courts, heated pool with changing rooms, and a waterfront fitness center; some amenities require separate membership. The address is minutes from the I-75 and I-275 interchanges, with access toward St. Petersburg, Tampa, and Sarasota.
Key Highlights
- 1,486‑square‑foot, 3‑bedroom, 2‑bath condominium
- Interior updates completed in May 2024; porcelain tile extends through the unit, including closets
- New AC unit installed in October 2024 and water heater installed in December 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,980
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,600
$359.6K
Cap Rate 7%
$256,857
$256.9K
Cap Rate 9%
$199,778
$199.8K
Market Conditions
NOI Build-Up for 1,486 SF
Gross rent
$34.6K $23.28/SF
− Vacancy
−$1.9K −$1.28/SF
EGI
$32.7K $22.00/SF
− OpEx
−$14.7K −$9.90/SF
NOI
$18.0K $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 Rate 5%
$359,600
Cap Rate 7%
$256,857
Cap Rate 9%
$199,778
Alternative Uses
Best Use
Apartment 5plus
$256.9K
$224.8K – $299.7K
NOI $17,980 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.0K
$382.4K – $509.8K
NOI $30,589 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor residence with elevator access, screened patio, and west-facing views across Terra Ceia Bay.
Where is this residential income property located?
The property is located at 2725 TERRA CEIA BAY BOULEVARD #201 Palmetto, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,486‑square‑foot, 3‑bedroom, 2‑bath condominium; Interior updates completed in May 2024; porcelain tile extends through the unit, including closets; New AC unit installed in October 2024 and water heater installed in December 2024
