Historic Three-Residence Rental
For Sale
$1,500,000
2830 BAY SHORE Circle, Sarasota, FL 34234
Commercial Sale, SARASOTA, FL
Property Size4,512 SF
Lot Size0.39 Acres
Price / SF$332.45
Days on Market8
Property Features for 2830 BAY SHORE Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RSF3
Basement
Crawl Space
Appliances
Dishwasher, Disposal, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
BAY HAVEN
Lot features
Corner Lot, City Limits, Landscaped, Oversized Lot, Sidewalk, Paved
View
Harbor
Directions
Tamiami Trail (Rt 41) to West on Virginia. House has 2 Addresses 847 Virginia Drive and 2830 Bay Shore Circle. There are 2 Drive ways, one on each road.
Standard status
Active
APN
2005150069
Size
4,512 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOTS 348 & 349 LESS BEG NE COR 349 TH S-34-31-E 112.2 FT TH S-38-34-W 8.2 FT TH 115.8 FT TO POB BAY HAVEN
Tax Annual Amount
6588
Legal Description
LOTS 348 & 349 LESS BEG NE COR 349 TH S-34-31-E 112.2 FT TH S-38-34-W 8.2 FT TH 115.8 FT TO POB BAY HAVEN
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Electric (Heating), Natural Gas, Central, Ductless (Heating)
Cooling system
Window Unit(s), Wall/Window Unit(s), Zoned, Central Air
Water source
Public
Amenities
gated
wrap-around screened porch
courtyard
fountain
reflecting pool
concrete arches
mosaics
masonry fireplace
rooftop sitting area
Building Details
Year built
1925
Floors in Building
3
Flooring type
Wood, Tile
Building materials
Block, Brick
Roof type
Membrane, Tile
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Donna Palm, PA · License #3046653
(941) 270-6575
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 9:06PM
MLS# A4704420
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.
Investment Insights
Based on property information with market context.
Built in 1925, this 4,512-square-foot historic estate occupies 0.39 acres and includes a three-bedroom, three-bath main residence plus a carriage house with two additional rental units. The carriage house contains a downstairs studio and an upstairs two-bedroom, one-bath apartment, each with a separate entrance. Short-term rentals with a seven-day minimum are allowed under the property information provided. The main house retains hardwood floors, Italian-style tile, crown molding, original chandeliers, a masonry fireplace, a wrap-around screened porch, and a third-floor retreat. A gated courtyard adds a fountain, reflecting pool, concrete arches, and mosaics. The property is designated a historic structure by the City of Sarasota, with the designation dating to 1987.
The property is located on Bay Shore Circle in Sarasota’s Ringling neighborhood, near Sarasota Bay, Indian Beach, the John & Mabel Ringling Museum and Mansion, downtown Sarasota, SRQ Airport, beaches, restaurants, and cultural attractions. Public water and public sewer serve the property. RSF3 zoning is identified in the property information.
The property is located on Bay Shore Circle in Sarasota’s Ringling neighborhood, near Sarasota Bay, Indian Beach, the John & Mabel Ringling Museum and Mansion, downtown Sarasota, SRQ Airport, beaches, restaurants, and cultural attractions. Public water and public sewer serve the property. RSF3 zoning is identified in the property information.
Key Highlights
- 4,512‑square‑foot estate on 0.39 acres
- Three potential residences: a 3‑bedroom, 3‑bath main house, studio, and 2‑bed/1‑bath apartment
- Short‑term rentals allowed with a 7‑day minimum
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
$54,594
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
3.64%
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%
$1,091,880
$1.1M
Cap Rate 7%
$779,914
$779.9K
Cap Rate 9%
$606,600
$606.6K
Market Conditions
NOI Build-Up for 4,512 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
$105.0K $23.28/SF
− Vacancy
−$5.8K −$1.28/SF
EGI
$99.3K $22.00/SF
− OpEx
−$44.7K −$9.90/SF
NOI
$54.6K $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%
$1,091,880
Cap Rate 7%
$779,914
Cap Rate 9%
$606,600
Alternative Uses
Best Use
Apartment 5plus
$779.9K
$682.4K – $909.9K
NOI $54,594 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,879 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
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?
Short term rental property - 1925 estate with a main residence and two separately entered carriage-house units, subject to a seven-day minimum rental period.
Where is this short term rental property located?
The property is located at 2830 BAY SHORE Circle Sarasota, FL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4,512‑square‑foot estate on 0.39 acres; Three potential residences: a 3‑bedroom, 3‑bath main house, studio, and 2‑bed/1‑bath apartment; Short‑term rentals allowed with a 7‑day minimum
