Five-Unit Apartment Building with
For Sale
$1,375,000
4001 GROVELAND Avenue, Sarasota, FL 34231
Residential Income, SARASOTA, FL
Property Size4,291 SF
Lot Size0.59 Acres
Price / SF$320.44
Days on Market188
Property Features for 4001 GROVELAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RMF2
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 8, Bathroom 5, Bedroom 5, Bedroom 10, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Dining Room, Family Room, Bedroom 7, Bedroom 9, Bathroom 3, Bedroom 4
Patio and Porch features
Patio, Porch
Pool private
1
Interior features
Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s)
Exterior features
Lighting, Rain Gutters, Sidewalk
Appliances
Dishwasher, Dryer, Microwave, Range, Range Hood, Refrigerator, Washer
Subdivision
GROVE PARK
Lot features
In County, Paved
Elementary school
Wilkinson Elementary
Middle school
Brookside Middle
High school
Riverview High
Directions
From I-75 take exit 207 heading west on Bee Ridge Rd, then turn left onto Groveland Ave. The Units will be on the left.
Standard status
Active
APN
0072030032
Size
4,291 SF
Lot size
0.59 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Year
2025
Tax Description
TH N 1/2 OF LOT 31 ALL OF LOTS 32 & 33 & TH S 1/2 OF LOT 34 BLK A GROVE PARK SUB
Tax Annual Amount
13014
Legal Description
TH N 1/2 OF LOT 31 ALL OF LOTS 32 & 33 & TH S 1/2 OF LOT 34 BLK A GROVE PARK SUB
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
heated and cooled swimming pool
screened patio room
tropical outdoor space
Building Details
Year built
1974
Flooring type
Tile - Ceramic
Building materials
Stucco
Roof type
Shingle
Buildings
1
Listing Agency:
RE/MAX ALLIANCE GROUP · RE/MAX International
(941) 954-5454
Listed By:
Rachel Tritschler · License #3368249
(941) 993-5892
Added: Apr 27
Changed: Oct 30
Last Checked: Oct 31 at 12:06AM
MLS# A4691652
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,291-square-foot apartment building contains five 2-bedroom, 1-bath units on a 0.59-acre parcel. The property was built in 1974 and includes a private heated and cooled pool, screened patio room, paved parking, ceramic tile flooring, central heating and cooling, and in-unit appliances. Long-term tenants are currently in place, and the property can hold a motel or hotel license. Public water and sewer serve the building, with utilities individually metered.
Located in Sarasota approximately 4 miles from Siesta Key Beach, the property is identified as being outside a flood zone. Recent work includes exterior painting in 2024, remodeled kitchens in Units 2, 3, and 4 during 2024, updated bathrooms, roof replacement in 2014, and major plumbing replacement completed in 2009 and 2010. Blown-in roof insulation is also present.
Located in Sarasota approximately 4 miles from Siesta Key Beach, the property is identified as being outside a flood zone. Recent work includes exterior painting in 2024, remodeled kitchens in Units 2, 3, and 4 during 2024, updated bathrooms, roof replacement in 2014, and major plumbing replacement completed in 2009 and 2010. Blown-in roof insulation is also present.
Key Highlights
- Five 2‑bedroom, 1‑bath units in a 4,291‑square‑foot apartment building
- 0.59‑acre parcel with RMF2 zoning
- Private heated and cooled pool with screened patio room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,078
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$781,560
$781.6K
Cap Rate 7%
$558,257
$558.3K
Cap Rate 9%
$434,200
$434.2K
Market Conditions
NOI Build-Up for 4,291 SF
Gross rent
$79.3K $18.48/SF
− Vacancy
−$8.2K −$1.92/SF
EGI
$71.1K $16.56/SF
− OpEx
−$32.0K −$7.45/SF
NOI
$39.1K $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%
$781,560
Cap Rate 7%
$558,257
Cap Rate 9%
$434,200
Alternative Uses
Best Use
Apartment 5plus
$558.3K
$488.5K – $651.3K
NOI $39,078 @ 7.0% cap · market cap 2.84%
Second Best
Hotel Hospitality
$235.9K
$206.4K – $275.2K
NOI $16,510 @ 7.0% cap · market cap 1.20%
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,368 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
966
Businesses Nearby
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Business Placement
Demographics for 34231, FL
31,492
Population
19,017
Households
1.7
Avg Household Size
55
Median Age
38%
College-Educated
95%
High-School Grad
9.4 sq mi
ZIP Area
3,350
Density / Sq Mi
$69,721
Median Household Income
$40,608
Median Earnings
$1,707
Median Rent
$363,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - RMF2-zoned multifamily property with individually metered utilities and public water and sewer.
Where is this apartment building located?
The property is located at 4001 GROVELAND Avenue Sarasota, FL.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Five 2‑bedroom, 1‑bath units in a 4,291‑square‑foot apartment building; 0.59‑acre parcel with RMF2 zoning; Private heated and cooled pool with screened patio room
