Furnished Residential Income
For Sale
$275,000
4045 CROCKERS LAKE BOULEVARD UNIT 14, Sarasota, FL 34238
Three-bedroom condominium with two lanais, water views, and access to extensive community recreation.
Property Size1,260 SF
Price / SF$218.25
Days on Market27
Property Features for 4045 CROCKERS LAKE BOULEVARD UNIT 14
General Information
Standard status
Active
Size
1,260 SF
Property subtype
Commercial
Zoning
RMF1
Additional Details
Furnished
Yes
Multifamily Units
1
Amenities
Clubhouse
pool
spa
basketball
volleyball
tennis
fitness center
shuffleboard
playground
car wash station
fishing dock
laundromat
picnic area with grills
walking trails
Building Details
Year Built
1989
Listing Agency:
Gulf Sands Realty
Listed By:
Cynthia Brock · License #3230320
(941) 400-6237
Source:
Gulfsandsrealty
Added: Aug 8
Changed: Aug 31
Last Checked: Aug 31 at 12:38PM
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 Gulf Sands Realty
Investment Insights
Based on property information with market context.
This 1,260-square-foot condominium, built in 1989, offers three bedrooms, two bathrooms, two lanais, and water views from every room. Two bedrooms connect directly to the lanais. Furnishings and practical interior features include a Murphy bed with cabinet storage, an adjustable Serta bed in the primary bedroom, a living-room smart TV, crown molding, 5-inch baseboards, and an Alexa system. Energy-rated hurricane-impact windows add a durable building feature. The property also includes a new A/C installed in 2025 and a new hot water heater dated 2026.
Community amenities include walking trails, a clubhouse, two resort-style pools with a spa, basketball, volleyball, tennis, a fitness center, shuffleboard, a playground, a car wash station, a fishing dock, a laundromat, and a picnic area with grills. The residence is approximately 5 miles from Siesta Key Beach and offers access to the Legacy Trail, YMCA, Costco, Publix, Target, Lowe’s, Potter Park, and a Whole Foods planned across the street. Zoning is RMF1.
Community amenities include walking trails, a clubhouse, two resort-style pools with a spa, basketball, volleyball, tennis, a fitness center, shuffleboard, a playground, a car wash station, a fishing dock, a laundromat, and a picnic area with grills. The residence is approximately 5 miles from Siesta Key Beach and offers access to the Legacy Trail, YMCA, Costco, Publix, Target, Lowe’s, Potter Park, and a Whole Foods planned across the street. Zoning is RMF1.
Key Highlights
- 1,260 SF condominium with 3 bedrooms, 2 bathrooms, and 2 lanais
- Water views from every room; two bedrooms open directly to lanais
- New A/C installed in 2025 and new hot water heater dated 2026
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
$15,246
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
5.54%
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%
$304,920
$304.9K
Cap Rate 7%
$217,800
$217.8K
Cap Rate 9%
$169,400
$169.4K
Market Conditions
NOI Build-Up for 1,260 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
$29.3K $23.28/SF
− Vacancy
−$1.6K −$1.28/SF
EGI
$27.7K $22.00/SF
− OpEx
−$12.5K −$9.90/SF
NOI
$15.2K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$304,920
Cap Rate 7%
$217,800
Cap Rate 9%
$169,400
Alternative Uses
Best Use
Apartment 5plus
$217.8K
$190.6K – $254.1K
NOI $15,246 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$370.5K
$324.2K – $432.3K
NOI $25,937 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 34238, FL
22,050
Population
14,301
Households
1.5
Avg Household Size
64
Median Age
54%
College-Educated
97%
High-School Grad
13.2 sq mi
ZIP Area
1,670
Density / Sq Mi
$94,583
Median Household Income
$52,322
Median Earnings
$1,828
Median Rent
$532,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Three-bedroom condominium with two lanais, water views, and access to extensive community recreation.
Where is this residential income property located?
The property is located at 4045 CROCKERS LAKE BOULEVARD UNIT 14 Sarasota, FL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,260 SF condominium with 3 bedrooms, 2 bathrooms, and 2 lanais; Water views from every room; two bedrooms open directly to lanais; New A/C installed in 2025 and new hot water heater dated 2026
