Two-Unit Duplex
New
For Sale
$360,000
433 GRANADA BOULEVARD, North Port, FL 34287
Located in the Warm Mineral Springs area near shopping, restaurants, medical facilities, parks, and major roadways.
Property Size1,585 SF
Lot Size0.17 Acres
Price / SF$227.13
Days on Market4
Property Features for 433 GRANADA BOULEVARD
General Information
Standard status
Active
Size
1,585 SF
Lot size
0.17 Acres
Property subtype
Duplex
Zoning
RMF1
Additional Details
Multifamily Units
2
Building Details
Year Built
1970
Listing Agency:
RE/MAX PALM REALTY OF VENICE
(941) 451-2025
Listed By:
Regina Melman · License #3455400
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 1:46PM
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 RE/MAX PALM REALTY OF VENICE
Investment Insights
Based on property information with market context.
This duplex property at 433 Granada Boulevard includes two units within 1,585 square feet of building area. Constructed in 1970, the property sits on an approximately 7,600+ square-foot lot and is designated RMF1 for multifamily use. The configuration supports rental occupancy, multigenerational living, or an owner-occupant arrangement with a second unit for additional income.
The property is in North Port’s Warm Mineral Springs area, with shopping, restaurants, medical facilities, parks, and major roadways nearby. It is identified as outside a flood zone and offers access throughout North Port and to surrounding communities.
The property is in North Port’s Warm Mineral Springs area, with shopping, restaurants, medical facilities, parks, and major roadways nearby. It is identified as outside a flood zone and offers access throughout North Port and to surrounding communities.
Key Highlights
- Two‑unit duplex at 433 GRANADA BOULEVARD, NORTH PORT, FL 34287
- 1,585 square feet of building area
- Approximately 7,600+ square‑foot lot
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
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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 - Located in the Warm Mineral Springs area near shopping, restaurants, medical facilities, parks, and major roadways.
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 at 433 GRANADA BOULEVARD, NORTH PORT, FL 34287; 1,585 square feet of building area; Approximately 7,600+ square‑foot lot
