Mixed-Use Redevelopment
New
For Sale
$2,600,000
416-420 12TH STREET W, Bradenton, FL 34205
Gutted interior with restored brick, impact windows, new subfloors, and high ceilings supports a customized redevelopment plan.
Property Size9,725 SF
Price / SF$267.35
Days on Market6
Property Features for 416-420 12TH STREET W
General Information
Standard status
Active
Size
9,725 SF
Property subtype
Commercial
Zoning
T5
Taxes and HOA fees
Annual Taxes
$11,500
Amenities
exposed brick walls
new impact windows
new subfloors
soaring ceilings
Pool
Public Pool
Central Business District
Membrane Roof
Building Details
Year Built
1900
Buildings
1
Construction
brick
Listing Agency:
WAGNER REALTY
(941) 727-2800
Listed By:
RYAN HOFFMAN · License #3051574
Source:
Corcoran
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 9:49AM
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 property in downtown Bradenton was built in 1900 and has been taken back to the studs for redevelopment. Existing improvements include restored brick walls, impact-rated windows, new subfloors, and high ceilings, leaving the interior ready for a customized buildout. The property is located within the Urban Core (T5) zoning district.
Conceptual plans outline a possible mixed-use configuration with restaurant or bar space at ground level, residential units above, and a rooftop deck, subject to approvals. The surrounding downtown setting includes restaurants, bars, retail shops, and active redevelopment, with the Bradenton Riverwalk a short distance away.
Conceptual plans outline a possible mixed-use configuration with restaurant or bar space at ground level, residential units above, and a rooftop deck, subject to approvals. The surrounding downtown setting includes restaurants, bars, retail shops, and active redevelopment, with the Bradenton Riverwalk a short distance away.
Key Highlights
- Urban Core (T5) zoning district
- Interior gutted to the studs for redevelopment
- Restored brick walls, impact windows, and new subfloors
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
2,627
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Hotels & Casinos 30%
7-Eleven
Shops & Services
8,388 visits/mo
0.2 miles
Hampton Inn & Suites-Bradenton Downtown Historic District
Hotels & Casinos
5,151 visits/mo
0.4 miles
Truist
Shops & Services
3,775 visits/mo
0.3 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, new subfloors, and high ceilings supports a customized redevelopment plan.
Where is this mixed-use property located?
The property is located at 416-420 12TH STREET W 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: Urban Core (T5) zoning district; Interior gutted to the studs for redevelopment; Restored brick walls, impact windows, and new subfloors
