Updated Quadplex Near Nokomis
For Sale
$714,900
Pending
307 WINFIELD Way, Nokomis, FL 34275
Updated quadruplex income property, fully leased, near Nokomis Beach.
Property Size2,343 SF
Lot Size0.34 Acres
Days on Market274
Property Features for 307 WINFIELD Way
General Information
Standard status
Pending
Size
2,343 SF
Lot size
0.34 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,168
Building Details
Building Size
2,343 SF
Year Built
1974
Units
4
Listing Agency:
(941) 586-3735
Listed By:
Susie Nard, PA · License #3236152
(941) 586-3735
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 13
Last Checked: Aug 28 at 4:28PM
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 Susie Nard, PA
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 = 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
$23,945
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
3.35%
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%
$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
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
$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 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%
$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
NOI $23,945 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$304.8K
$266.7K – $355.6K
NOI $21,338 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$665.9K
$582.7K – $776.9K
NOI $46,613 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 Way Nokomis, FL.
What is the asking price?
The asking price for this property is $714,900.
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.
