Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3002 16Th Avenue Cir Palmetto, FL 34221

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $695,000

    10-acre parcel for low-density residential development in East Palmetto.

    Lot size:
    10.00 Acres

    Property Features for 3002 16Th Avenue Cir

    General Information

    Standard status
    Active
    Lot size
    10.00 Acres

    We can help!

    Listing Contact
    Jose Torres
    Source: Corcoran

    Listing Agency: Keller Williams On the Water Listing Agent: Jose Torres

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    East Palmetto Development Opportunity

    This 10-acre parcel in East Palmetto, located just north of 301N/10th Street, presents a development opportunity. The property has a Future Land Use designation of RES-3, suitable for low-density residential development, subject to county approvals. Currently unimproved and not subdivided, the site has no utilities present. A portion of the land includes wetlands. The property is sold As-Is, and the buyer is responsible for all due diligence. A preliminary environmental walkthrough is available upon request.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palmetto
    County
    Manatee
    State
    Florida
    Longitude
    -82.5471096
    Latitude
    27.5352085

    Nearby Similar for Sale

    • New
      $1,500,000
      3,946 SF

      Equestrian Center with Mediterranean Home

      4.9-acre horse ranch with home, cabin, and 20-stall barn.
      9510 36Th Ave E, Palmetto, FL 34221
      View Details
    • $415,000
      Pending

      Income-Producing Palmetto Duplex

      Charming duplex with proven short-term rental income near Manatee River.
      1318 6Th St W, Palmetto, FL 34221
      View Details
    • $289,000
      0.03 Acres

      Riviera Dunes Marina Slip Available

      70' boat slip in a protected Florida marina.
      102 Riviera Dunes Way, Palmetto, FL 34221
      View Details
    • $69,900
      0.06 Acres

      RV Lot in Waterfront Community

      Ready-to-go RV lot in 55+ waterfront community.
      62 Terra Ceia Dr, Palmetto, FL 34221
      View Details
    • $62,500
      0.01 Acres

      RV Lot in Tropic Isles

      RV lot in 55+ waterfront community, Palmetto, Florida.
      63 Terra Ceia Dr, Palmetto, FL 34221
      View Details
    • $60,000
      0.02 Acres

      RV Lot in 55+ Community

      RV lot with shed in waterfront 55+ community.
      136 Bahia Dr, Palmetto, FL 34221
      View Details
    • $52,000
      Pending

      RV Lot in Active Community

      Cleared RV lot in 55+ waterfront community with amenities.
      39 Montego Dr, Palmetto, FL 34221
      View Details
    • $250,000
      0.11 Acres

      Waterfront Lot in Palmetto, FL

      Oversized waterfront lot with direct canal access and new dock.
      196 Bimini Dr, Palmetto, FL 34221
      View Details
    • $350,000

      Riviera Dunes Marina North Dock

      70' boat slip in Riviera Dunes Marina for sale.
      102 Riviera Dunes Way, Palmetto, FL 34221
      View Details
    • Contact for pricing
      4,600 SF

      Downtown Palmetto Commercial Property

      Two-story commercial property with retail and office space.
      435 10Th Ave W, Palmetto, FL 34221
      View Details
    • $155,000

      Riviera Dunes Marina Dock Slip

      35' dock slip with 10,000 lb boat lift.
      102 Rivieria Dunes Way N 21, Palmetto, FL 34221
      View Details
    • Contact for pricing

      Renovated Building on US41/US19 Interchange

      Modernized freestanding building suitable for retail, restaurant, or offices.
      3966 S 41St St, Palmetto, FL 34221
      View Details

    FAQs

    What type of property is this?
    Land - 10-acre parcel for low-density residential development in East Palmetto.
    Where is this land located?
    The property is located at 3002 16Th Avenue Cir Palmetto, FL.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: - 10-Acre Parcel: Substantial land size suitable for development.; - East Palmetto Location: Situated in a desirable area north of 301N/10th Street.; - RES-3 Future Land Use: Designated for low-density residential development.
    (941) 729-7400
    Request Owner's contact information
    3002 16Th Avenue Cir Palmetto, FL 34221
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3002 16Th Avenue Cir
    Palmetto, FL 34221
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3002 16Th Avenue Cir Palmetto, FL 34221
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jose Torres
    Real Estate License ID: 3448736
    (941) 729-7400 (727) 453-8651
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!