Duplex Construction
New
For Sale
$399,900
3836 ALBACETE CIRCLE, Punta Gorda, FL 33950
A substantially completed residential project remains under construction and is being sold as-is.
Property Size1,373 SF
Price / SF$291.26
Days on Market3
Property Features for 3836 ALBACETE CIRCLE
General Information
Standard status
Active
Size
1,373 SF
Property subtype
Duplex
Zoning
GM-15
Amenities
0.28 acres
Tile
Public Sewer
Additional parcels description:, Parcel Number: 412320404015, Public Survey Range: 23E, Public Survey Section: 20, Annual Amount: $1,139.51, Tax Block: 228, Legal Description: PGI 015 0228 0007 PUNTA GORDA ISLES SEC15 BLK228 LT7 LESS THE W 20 FT 682/127-128 726/877 PR99-1054 1741/1014-28 1776/1753 1782/1795 4790/2028 4790/2029, Lot: 7, Year: 2025, Zoning: GM-15
1 space
Central Air
Electric
Laundry Room
Listing ID: MFRC7531230, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-09-29, Special Conditions: Short Sale
6 total bedrooms
Built in 2026, Living area: 1373, Living area units: Square Feet, Construction Materials: Block
Subdivision: PUNTA GORDA ISLES SEC 15, MLS Area (Major): 33950 - Punta Gorda, County/Parish: Charlotte
Under Construction
4 total bathrooms
Public, Water Source: Public
Block, Stem Wall
Road Surface: Asphalt
Private Yard
Walk-In Closet(s)
Other equipment: Private Yard
Building Details
Year Built
2026
Listing Agency:
WILLIAM MORGAN REAL ESTATE LLC
(208) 794-7630
Listed By:
Bill Morgan · License #3387161
Source:
Miharaandassociates
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 1 at 11:05AM
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 WILLIAM MORGAN REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This duplex project is under construction, with much of the work already completed. The property is being sold as-is, leaving the remaining construction work to be finished by the next owner.
Located within Punta Gorda city limits, the project is zoned GM-15. The property information identifies the construction as substantially complete, but no detailed breakdown of completed or remaining work is provided.
Located within Punta Gorda city limits, the project is zoned GM-15. The property information identifies the construction as substantially complete, but no detailed breakdown of completed or remaining work is provided.
Key Highlights
- Duplex project is under construction, with much of the work completed
- Zoned GM‑15 within the City of Punta Gorda
- Property is being sold as‑is
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
$13,282
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
3.32%
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%
$265,640
$265.6K
Cap Rate 7%
$189,743
$189.7K
Cap Rate 9%
$147,578
$147.6K
Market Conditions
NOI Build-Up for 1,373 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
$23.4K $17.04/SF
− Vacancy
−$4.4K −$3.22/SF
EGI
$19.0K $13.82/SF
− OpEx
−$5.7K −$4.15/SF
NOI
$13.3K $9.67/SF
Area
Charlotte County, FL
Vacancy
18.90%
Lease Rate
$17.04 /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%
$265,640
Cap Rate 7%
$189,743
Cap Rate 9%
$147,578
Alternative Uses
Best Use
Multifamily LT 5
$189.7K
$166.0K – $221.4K
NOI $13,282 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$173.2K
$151.5K – $202.0K
NOI $12,122 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$449.6K
$393.4K – $524.5K
NOI $31,469 @ 7.0% cap · market cap 7.87%
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
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
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?
Duplex - A substantially completed residential project remains under construction and is being sold as-is.
Where is this duplex located?
The property is located at 3836 ALBACETE CIRCLE Punta Gorda, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex project is under construction, with much of the work completed; Zoned GM‑15 within the City of Punta Gorda; Property is being sold as‑is
