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    4208 Redfish Ct Palmetto, FL 34221

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    For Sale
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    Exclusive waterfront homesite with boating access in Tampa Bay.

    Lot size:
    0.65 Acres

    Property Features for 4208 Redfish Ct

    General Information

    Standard status
    Active
    Lot size
    0.65 Acres

    We can help!

    Listing Contact
    Nick Janovsky
    Source: Corcoran

    Listing Agency: PREMIER SOTHEBYS INTL REALTY Listing Agent: Nick Janovsky

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Waterfront Land in Snead Island

    Located within the exclusive waterfront enclave of Snead Island, this homesite offers scale, privacy, and boating access. Positioned along a protected coastal cove, the property showcases water views and direct access to the Bradenton Yacht Club and open waters. The location is suited for those who value an elegant coastal lifestyle, effortless boating, and quiet, walkable streets. At over 28,000 square feet, the homesite offers the space and flexibility to design a custom residence tailored to modern waterfront living. Architectural drawings for a luxury home are available, providing a head start for developers, builders, or end users. A dock and boat lift quote has been secured, validating the site’s boating capabilities and simplifying the path from concept to construction. Surrounding newly constructed modern waterfront estates elevate Snead Island’s profile and reinforce long-term value. The property’s current pricing reflects a unique window of opportunity relative to recent neighborhood activity and comparable land sales on the island. Supporting documentation including a current survey and premium photography are available for review, showcasing the natural beauty, privacy, and enduring appeal of this coastal setting. This location is suitable for building a legacy estate in one of Tampa Bay's sought-after yachting communities.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Dental Office Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Department Store Grocery & Convenience Store HVAC Service Storage Facility Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palmetto
    County
    Manatee
    State
    Florida
    Longitude
    -82.6102929
    Latitude
    27.5359743

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    FAQs

    What type of property is this?
    Waterfront Land - Exclusive waterfront homesite with boating access in Tampa Bay.
    Where is this waterfront land located?
    The property is located at 4208 Redfish Ct Palmetto, FL.
    What are key features of this property?
    This property features: - Rare, large waterfront homesite (over 28,000 sq ft) in Snead Island yachting community.; - Direct, protected water access to Bradenton Yacht Club, the Skyway, and open waters.; - Architectural drawings for a luxury home are available.
    (727) 898-6800
    Request Owner's contact information
    4208 Redfish Ct Palmetto, FL 34221
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    Palmetto, FL 34221
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4208 Redfish Ct Palmetto, FL 34221
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    Listing Contact
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    (727) 898-6800
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