Furnished Condo in Shorewalk
For Sale
$244,900
Pending
4503 46TH W, Bradenton, FL 34210
Turnkey condo near beaches, shopping, and resort-style amenities.
Property Size952 SF
Lot Size2.62 Acres
Days on Market174
Property Features for 4503 46TH W
General Information
Standard status
Pending
Size
952 SF
Lot size
2.62 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,347
Building Details
Building Size
952 SF
Year Built
1985
Stories
2
Listing Agency:
(941) 914-5374
Listed By:
Yvon Rocca · License #3347092
(941) 914-5374
Source:
Elliman
Added: Mar 11
Changed: Aug 31
Last Checked: Aug 30 at 5:15PM
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 Yvon Rocca
Investment Insights
Based on property information with market context.
This turnkey furnished condo is located in the highly demanded "Old Shorewalk" within the Shorewalk Vacation Villas community. The property is conveniently located near beaches, shopping malls, and restaurants. Its proximity to amenities is a notable feature, with access to two pools, two spas, a clubhouse with a grill area, tennis, pickleball, basketball, and shuffleboard. A new A/C unit was installed in 2017, and a smooth top stove, washer, dryer, and water heater were newly installed in 2018. The master shower was redone in 2018, and ceiling fans are present throughout the unit. The condo offers a pond view. This tastefully furnished apartment is suitable for families and vacation rentals, making it attractive for investors. A minimum stay of only three nights is required. Shorewalk is a resort-style property that welcomes guests. It is a short drive to the IMG Academy and a 10-15 minute drive to the beaches of Anna Maria Island and Longboat Key. Two supermarkets, restaurants, and a bowling alley are within walking distance. Bradenton, Sarasota, and St. Pete offer art, sports, and cultural events.
Key Highlights
- Turnkey furnished condo in the highly desirable Old Shorewalk community.
- Close proximity to beaches, shopping, restaurants, and community amenities (pools, spas, tennis, pickleball, basketball, shuffleboard, clubhouse).
- Excellent investment opportunity with short‑term rental potential (3‑night minimum).
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
$11,519
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
4.70%
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%
$230,380
$230.4K
Cap Rate 7%
$164,557
$164.6K
Cap Rate 9%
$127,989
$128.0K
Market Conditions
NOI Build-Up for 952 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
$22.2K $23.28/SF
− Vacancy
−$1.2K −$1.28/SF
EGI
$20.9K $22.00/SF
− OpEx
−$9.4K −$9.90/SF
NOI
$11.5K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$230,380
Cap Rate 7%
$164,557
Cap Rate 9%
$127,989
Alternative Uses
Best Use
Apartment 5plus
$164.6K
$144.0K – $192.0K
NOI $11,519 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$280.0K
$245.0K – $326.6K
NOI $19,597 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 34210, FL
16,447
Population
11,870
Households
1.4
Avg Household Size
54
Median Age
37%
College-Educated
93%
High-School Grad
8.9 sq mi
ZIP Area
1,848
Density / Sq Mi
$64,306
Median Household Income
$37,216
Median Earnings
$1,552
Median Rent
$279,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Turnkey condo near beaches, shopping, and resort-style amenities.
Where is this short term rental property located?
The property is located at 4503 46TH W Bradenton, FL.
What is the asking price?
The asking price for this property is $244,900.
What are key features of this property?
This property features: Turnkey furnished condo in the highly desirable Old Shorewalk community.; Close proximity to beaches, shopping, restaurants, and community amenities (pools, spas, tennis, pickleball, basketball, shuffleboard, clubhouse).; Excellent investment opportunity with short‑term rental potential (3‑night minimum).
