Restored Victorian Home in
For Sale
$995,000
304 15TH STREET W, Bradenton, FL 34205
Historic Bradenton property with income potential and versatile uses.
Property Size4,964 SF
Lot Size0.26 Acres
Price / SF$200.44
Days on Market180
Property Features for 304 15TH STREET W
General Information
Standard status
Active
Size
4,964 SF
Lot size
0.26 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,568
Amenities
Central air
Dryer
Washer
Corner Lot
Pool
Public Pool
Central Air Cooling
Central Heating
Landscaped
Near Golf Course
Near Public Transit
Shingle Roof
Wood Flooring
Building Details
Year Built
1920
Listing Agency:
THE KEYES COMPANY - SARASOTA
(941) 362-4100
Listed By:
TROY KEMNA · License #3320470
Source:
Corcoran
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 8 at 1:19PM
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 THE KEYES COMPANY - SARASOTA
Investment Insights
Based on property information with market context.
This beautifully restored 1920 Victorian home, formerly The Londoner Bed & Breakfast, is located in the heart of downtown Bradenton. This property is the only home in the city officially classified as a Bed & Breakfast, offering unmatched flexibility and income potential. The versatile setup allows for multiple uses, including a single-family residence with a detached mother-in-law suite, a traditional Bed & Breakfast, wedding venue, office building, or short-term rentals and AirBnB stays. The current zoning allows for many potential uses in this downtown area. The home showcases woodwork, wrap-around porches, and architectural details. With almost 5,000 square feet of living space, it is designed for both comfort and hospitality. This historic Bradenton landmark blends classic elegance with modern opportunity.
Key Highlights
- Unique Bed & Breakfast Zoning: The only property in the city officially classified as a Bed & Breakfast.
- Versatile Usage Options: Suitable as a single‑family residence, Bed & Breakfast, Wedding Venue, Office building, or short‑term rental property.
- Prime Downtown Location: Situated in the heart of downtown Bradenton.
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
$81,060
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
8.15%
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%
$1,621,200
$1.6M
Cap Rate 7%
$1,158,000
$1.2M
Cap Rate 9%
$900,667
$900.7K
Market Conditions
NOI Build-Up for 4,964 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
$114.4K $23.04/SF
− Vacancy
−$6.3K −$1.27/SF
EGI
$108.1K $21.77/SF
− OpEx
−$27.0K −$5.44/SF
NOI
$81.1K $16.33/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,621,200
Cap Rate 7%
$1,158,000
Cap Rate 9%
$900,667
Alternative Uses
Best Use
Office B
$1.16M
$1.01M – $1.35M
NOI $81,060 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$858.0K
$750.8K – $1.00M
NOI $60,063 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,183 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,097
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Historic Bradenton property with income potential and versatile uses.
Where is this bed & breakfast located?
The property is located at 304 15TH STREET W Bradenton, FL.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Unique Bed & Breakfast Zoning: The only property in the city officially classified as a Bed & Breakfast.; Versatile Usage Options: Suitable as a single‑family residence, Bed & Breakfast, Wedding Venue, Office building, or short‑term rental property.; Prime Downtown Location: Situated in the heart of downtown Bradenton.
