Building Details

Building Size 2,343 SF

Year Built 1974

Units 4

Listed By: Susie Nard, PA · License #3236152 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Sep 30 Last Checked: Oct 12 at 7:42PM

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Investment Insights

Based on property information with market context.

This updated multi-plex is located within walking distance of Nokomis Beach. The quadruplex income property is fully leased and situated on an oversized 15,000 square foot lot. It is located approximately 0.5 miles from the beach and 1 mile from various shops. The property features a two-story structure with two 2-bedroom, 1-bath units on the upper level, which include a wrap-around porch. Located on a quiet cul-de-sac street, the property is connected to county water and is well-maintained, offering creative possibilities. A new septic tank and drainfield were installed in June 2024. The roof was replaced in 2021, and the second-story units were renovated in 2021 with new countertops, sinks, flooring, and A/C units. The electric box was updated in 2022, and two new hot water heaters have been installed. The exterior was painted in 2019. The property includes a shed and shared laundry facilities for all tenants.

Key Highlights

• Walkable distance to Nokomis Beach (0.5 mile).
• Fully leased quadruplex income property.
• Oversized 15,000 SF lot.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,945

Cap Rate

3.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$478,900 $478.9K

Cap Rate 7%

$342,071 $342.1K

Cap Rate 9%

$266,056 $266.1K

Market Conditions

NOI Build-Up for 2,343 SF

Gross rent

$38.0K $16.20/SF

− Vacancy

−$3.8K −$1.60/SF

EGI

$34.2K $14.60/SF

− OpEx

−$10.3K −$4.38/SF

NOI

$23.9K $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 Rate 5%

$478,900

Cap Rate 7%

$342,071

Cap Rate 9%

$266,056

Alternative Uses

Best Use

Multifamily LT 5

$342.1K

$299.3K – $399.1K (±1% cap)

NOI $23,945 @ 7.0% cap · market cap 3.43%

Second Best

Apartment 5plus

$304.8K

$266.7K – $355.6K (±1% cap)

NOI $21,338 @ 7.0% cap · market cap 3.06%

Theoretical Best

Office A

$665.9K

$582.7K – $776.9K (±1% cap)

NOI $46,613 @ 7.0% cap · market cap 6.68%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Law Firm HVAC Service Plumbing Service (Bike/Boat/Book/etc) Store Auto Parts Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

292

Businesses Nearby

Explore this area Business Placement

Demographics for 34275, FL

20,570

Population

13,139

Households

1.6

Avg Household Size

63

Median Age

43%

College-Educated

97%

High-School Grad

25.7 sq mi

ZIP Area

800

Density / Sq Mi

$84,503

Median Household Income

$48,094

Median Earnings

$1,459

Median Rent

$435,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Updated quadruplex income property, fully leased, near Nokomis Beach.

Where is this quadplex located?

The property is located at 307 WINFIELD Nokomis, FL.

What is the asking price?

The asking price for this property is $698,000.

What are key features of this property?

This property features: Walkable distance to Nokomis Beach (0.5 mile).; Fully leased quadruplex income property.; Oversized 15,000 SF lot.