Mixed-Use Redevelopment
For Sale
$2,600,000
416 12th Street West, Bradenton, FL 34205
Gutted interior with restored brick, impact windows, and new subfloors supports customized redevelopment.
Property Size9,725 SF
Price / SF$267.35
Days on Market60
Property Features for 416 12th Street West
General Information
Standard status
Active
Size
9,725 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
C1/UCBD
Taxes and HOA fees
Annual Taxes
$11,500
Amenities
No
Square Feet
Membrane
Multi/Split
Slab
Brick, Concrete
Building Details
Year Built
1900
Listing Agency:
WAGNER REALTY
Listed By:
Ryan Hoffman · License #3051574
(941) 773-9184
Source:
Compass
Added: Jul 14
Changed: Sep 10
Last Checked: Sep 10 at 2:35PM
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 WAGNER REALTY
Investment Insights
Based on property information with market context.
This mixed-use building at 416 12th Street West has been taken back to the studs, creating a flexible starting point for a substantial redevelopment project. Existing improvements include restored exposed brick walls, impact-resistant windows, new subfloors, high ceilings, and a slab foundation. The property was built in 1900 and includes brick and concrete exterior materials.
Conceptual plans contemplate restaurant or bar space at street level, residential units above, and a rooftop deck, subject to required approvals. The building is positioned in Downtown Bradenton near Old Main Street and the Bradenton Riverwalk, with restaurants, bars, retail shops, and active redevelopment in the surrounding district.
Conceptual plans contemplate restaurant or bar space at street level, residential units above, and a rooftop deck, subject to required approvals. The building is positioned in Downtown Bradenton near Old Main Street and the Bradenton Riverwalk, with restaurants, bars, retail shops, and active redevelopment in the surrounding district.
Key Highlights
- Interior gutted to the studs for redevelopment
- Restored exposed brick walls, impact windows, and new subfloors
- Soaring ceilings and slab foundation
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
$170,491
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
6.56%
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%
$3,409,820
$3.4M
Cap Rate 7%
$2,435,586
$2.4M
Cap Rate 9%
$1,894,344
$1.9M
Market Conditions
NOI Build-Up for 9,725 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
$291.8K $30.00/SF
− Vacancy
−$19.0K −$1.95/SF
EGI
$272.8K $28.05/SF
− OpEx
−$102.3K −$10.52/SF
NOI
$170.5K $17.53/SF
Area
Manatee County, FL
Vacancy
6.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,409,820
Cap Rate 7%
$2,435,586
Cap Rate 9%
$1,894,344
Alternative Uses
Best Use
Mixed Use
$2.44M
$2.13M – $2.84M
NOI $170,491 @ 7.0% cap · market cap 6.56%
Second Best
Retail
$1.71M
$1.49M – $1.99M
NOI $119,594 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,187 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
429
Businesses Nearby
24k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 78%
Dining 22%
Circle K
Shops & Services
8,098 visits/mo
0.3 miles
Family Dollar
Shops & Services
5,890 visits/mo
0.2 miles
Mi Rancho
Dining
5,135 visits/mo
0.4 miles
Marathon
Shops & Services
4,075 visits/mo
0.2 miles
The UPS Store
Shops & Services
381 visits/mo
0.5 miles
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Gutted interior with restored brick, impact windows, and new subfloors supports customized redevelopment.
Where is this mixed-use property located?
The property is located at 416 12th Street West Bradenton, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Interior gutted to the studs for redevelopment; Restored exposed brick walls, impact windows, and new subfloors; Soaring ceilings and slab foundation
