Two-Unit Duplex
New
For Sale
$360,000
433 GRANADA Boulevard, North Port, FL 34287
Residential Income, NORTH PORT, FL
Property Size1,585 SF
Lot Size0.18 Acres
Price / SF$227.13
Days on Market5
Property Features for 433 GRANADA Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RMF1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bedroom 2
Interior features
Thermostat
Exterior features
Lighting, Private Mailbox
Subdivision
WARM MINERAL SPGS
Elementary school
Laurel Nokomis Elementary
Middle school
Venice Area Middle
High school
Wellen Park High
Directions
From I-75, take Exit 195 toward North Port/Englewood. Travel west on Laurel Road, then turn south onto US-41/Tamiami Trail. Turn onto Ortiz Boulevard, then turn onto Granada Boulevard. Continue to 433 Granada Blvd; property will be on the right.
Standard status
Active
APN
0769160004
Size
1,585 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 47 BLK A WARM MINERAL SPRINGS UNIT 90 IN PB 17 PG 4
Tax Annual Amount
2783
Legal Description
LOT 47 BLK A WARM MINERAL SPRINGS UNIT 90 IN PB 17 PG 4
Utilities
Utilities
Electricity Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Well
Building Details
Year built
1970
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
RE/MAX PALM REALTY OF VENICE · RE/MAX International
(941) 451-2025
Listed By:
Regina Melman · License #3455400
(941) 525-6818
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 22 at 7:06PM
MLS# N6145826
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.
Investment Insights
Based on property information with market context.
This duplex property at 433 Granada Boulevard includes two units within 1,585 square feet on a 0.18-acre parcel. Built in 1970, the structure uses block and stucco construction and includes central heating, central air conditioning, shingle roofing, lighting, and private mailbox service. The interior room inventory includes four bedrooms and two bathrooms.
The property is in North Port’s Warm Mineral Springs area, with shopping, restaurants, medical facilities, parks, and major roadways identified nearby. RMF1 zoning supports the property’s multifamily classification. Utilities include electricity availability, a private well, and a septic tank. The source information identifies the property as outside a flood zone; buyers are advised to verify zoning, unit count, building details, utilities, permitted uses, rental restrictions, and development potential with the appropriate agencies.
The property is in North Port’s Warm Mineral Springs area, with shopping, restaurants, medical facilities, parks, and major roadways identified nearby. RMF1 zoning supports the property’s multifamily classification. Utilities include electricity availability, a private well, and a septic tank. The source information identifies the property as outside a flood zone; buyers are advised to verify zoning, unit count, building details, utilities, permitted uses, rental restrictions, and development potential with the appropriate agencies.
Key Highlights
- Two‑unit duplex on a 0.18‑acre parcel
- 1,585 square feet of property size
- RMF1 multifamily zoning
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
$16,198
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
4.50%
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%
$323,960
$324.0K
Cap Rate 7%
$231,400
$231.4K
Cap Rate 9%
$179,978
$180.0K
Market Conditions
NOI Build-Up for 1,585 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
$25.7K $16.20/SF
− Vacancy
−$2.5K −$1.60/SF
EGI
$23.1K $14.60/SF
− OpEx
−$6.9K −$4.38/SF
NOI
$16.2K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$323,960
Cap Rate 7%
$231,400
Cap Rate 9%
$179,978
Alternative Uses
Best Use
Multifamily LT 5
$231.4K
$202.5K – $270.0K
NOI $16,198 @ 7.0% cap · market cap 4.50%
Second Best
Apartment 5plus
$206.2K
$180.4K – $240.6K
NOI $14,435 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$450.5K
$394.2K – $525.6K
NOI $31,533 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 34287, FL
26,277
Population
15,713
Households
1.7
Avg Household Size
59
Median Age
23%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
1,510
Density / Sq Mi
$64,229
Median Household Income
$39,509
Median Earnings
$1,296
Median Rent
$235,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - RMF1-zoned duplex with central heating and cooling, block-and-stucco construction, and well and septic service.
Where is this duplex located?
The property is located at 433 GRANADA Boulevard North Port, FL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit duplex on a 0.18‑acre parcel; 1,585 square feet of property size; RMF1 multifamily zoning
