Laurel Park Multifamily
For Sale
$999,000
301 S Osprey Ave, Sarasota, FL 34236
Four-unit property in desirable location with income potential.
Property Size3,320 SF
Price / SF$300.90
Days on Market164
Property Features for 301 S Osprey Ave
General Information
Standard status
Active
Size
3,320 SF
Property subtype
Multi-Family
Building Details
Year Built
1914
Listing Agency:
QUEST PROPERTIES INC
Listed By:
Timothy Bloch · License #3148982
(941) 504-1111
Source:
Whitesandsfl
Added: Apr 24
Changed: Oct 3
Last Checked: Oct 3 at 1:51AM
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 QUEST PROPERTIES INC
Investment Insights
Based on property information with market context.
Located in Laurel Park, this multifamily property features two separate buildings, each containing an upper and lower 1-bedroom, 1-bath apartment. All units are currently leased to annual tenants. The property offers off-street parking for tenants. Situated just three blocks from Main Street and minutes from Gulf Coast beaches, this property is located in a desirable and historic neighborhood. The property offers potential for short-term rental income in a vacation-friendly market. The bike score is 62, making it bikeable. The walk score is 88, indicating it is very walkable. The transit score is 44, suggesting some transit options are available.
Key Highlights
- Prime location in highly desirable Laurel Park, just three blocks from Main Street
- Exceptional income potential as a 4‑unit multifamily property
- All units currently leased to reliable annual tenants, providing immediate income
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
$33,929
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
3.40%
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%
$678,580
$678.6K
Cap Rate 7%
$484,700
$484.7K
Cap Rate 9%
$376,989
$377.0K
Market Conditions
NOI Build-Up for 3,320 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
$53.8K $16.20/SF
− Vacancy
−$5.3K −$1.60/SF
EGI
$48.5K $14.60/SF
− OpEx
−$14.5K −$4.38/SF
NOI
$33.9K $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 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%
$678,580
Cap Rate 7%
$484,700
Cap Rate 9%
$376,989
Alternative Uses
Best Use
Multifamily LT 5
$484.7K
$424.1K – $565.5K
NOI $33,929 @ 7.0% cap · market cap 3.40%
Second Best
Apartment 5plus
$431.9K
$377.9K – $503.9K
NOI $30,235 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$943.6K
$825.6K – $1.10M
NOI $66,050 @ 7.0% cap · market cap 6.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,432
Businesses Nearby
Explore this area
Business Placement
Demographics for 34236, FL
14,083
Population
11,661
Households
1.2
Avg Household Size
66
Median Age
62%
College-Educated
96%
High-School Grad
3.6 sq mi
ZIP Area
3,912
Density / Sq Mi
$96,400
Median Household Income
$48,828
Median Earnings
$2,010
Median Rent
$917,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in desirable location with income potential.
Where is this quadplex located?
The property is located at 301 S Osprey Ave Sarasota, FL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Prime location in highly desirable Laurel Park, just three blocks from Main Street; Exceptional income potential as a 4‑unit multifamily property; All units currently leased to reliable annual tenants, providing immediate income
