Sarasota Multifamily Property Near
3700 BENEVA ROAD #601-613, Sarasota, FL 34232
For Sale
$3,790,000
13-unit multifamily property with updated units and golf course views.
Property Size13,428 SF
Lot Size0.62 Acres
Price / SF$282.25
Days on Market305
Property Features for 3700 BENEVA ROAD #601-613
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Dryer
Washer
Corner Lot
Pool
Public Pool
Central Air Cooling
Landscaped
Near Golf Course
Parking Spaces - 19 to 30
Shingle Roof
Street Lights
Building Details
Year Built
Listing Agency:
FINE PROPERTIES
(941) 782-0000
Listed By:
TRACY SRODES · License #3487593
(813) 267-1312
Source:
Corcoran
Added: Jan 9
Changed: Aug 8
Last Checked: Aug 8 at 1:31PM
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 FINE PROPERTIES
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Investment Insights
Based on property information with market context.
This free-standing building contains 13 units, including seven 2-bedroom, 2-bathroom apartments and six 2-bedroom, 2.5-bathroom townhomes. Most units have been updated with new luxury vinyl flooring, new kitchens featuring cabinets and quartz countertops, and new bathrooms with quartz countertops and fixtures. The units also feature new paint, updated molding, and an accent wall. Ground floor units have newly tiled patios and new screen lanais. The property offers views of a golf course and a large backyard. There are 14 covered parking spaces, 10 additional spaces, and 6 shared guest parking spaces. The air conditioning units and water heaters are mostly new or less than 4 years old. Roof replacement is underway and is to be completed prior to closing. The property size is 13428 square feet.
Key Highlights
- Free‑standing building with no HOA fees
- Mix of 2‑bedroom, 2‑bathroom units and 2‑bedroom, 2.5‑bathroom townhomes
- Extensive recent renovations including new luxury vinyl flooring, kitchens with quartz countertops, bathrooms with quartz countertops and fixtures, and new paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,288
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,445,760
$2.4M
Cap Rate 7%
$1,746,971
$1.7M
Cap Rate 9%
$1,358,756
$1.4M
Market Conditions
NOI Build-Up for 13,428 SF
Gross rent
$248.1K $18.48/SF
− Vacancy
−$25.8K −$1.92/SF
EGI
$222.3K $16.56/SF
− OpEx
−$100.1K −$7.45/SF
NOI
$122.3K $9.11/SF
Area
Sarasota County, FL
Vacancy
10.40%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,445,760
Cap Rate 7%
$1,746,971
Cap Rate 9%
$1,358,756
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,288 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.82M
$3.34M – $4.45M
NOI $267,144 @ 7.0% cap · market cap 7.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
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Business Placement
Demographics for 34232, FL
34,671
Population
17,248
Households
2
Avg Household Size
47
Median Age
34%
College-Educated
93%
High-School Grad
11.0 sq mi
ZIP Area
3,152
Density / Sq Mi
$81,041
Median Household Income
$44,166
Median Earnings
$1,836
Median Rent
$332,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Sarasota, FL
Properties on Market for Apartment buildings in Sarasota
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 13-unit multifamily property with updated units and golf course views.
Where is this apartment building located?
The property is located at 3700 BENEVA ROAD #601-613 Sarasota, FL.
What is the asking price?
The asking price for this property is $3,790,000.
What are key features of this property?
This property features: Free‑standing building with no HOA fees; Mix of 2‑bedroom, 2‑bathroom units and 2‑bedroom, 2.5‑bathroom townhomes; Extensive recent renovations including new luxury vinyl flooring, kitchens with quartz countertops, bathrooms with quartz countertops and fixtures, and new paint
