Tenant-Occupied Residential
New
For Sale
$147,500
4631 SUMMERWIND DRIVE #16, Sarasota, FL 34234
Two-bedroom, two-bath condominium with income in place and access to community amenities.
Property Size966 SF
Price / SF$152.69
Days on Market6
Property Features for 4631 SUMMERWIND DRIVE #16
General Information
Standard status
Active
Size
966 SF
Property subtype
Duplex
Building Details
Year Built
1983
Listing Agency:
UPTOP REAL ESTATE SERVICES, LLC
(941) 554-4896
Listed By:
Adam Kabinoff · License #3296124
(904) 687-7876
Source:
Endlesssummerrealty
Added: Sep 2
Changed: Sep 6
Last Checked: Sep 6 at 8:18AM
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 UPTOP REAL ESTATE SERVICES, LLC
Investment Insights
Based on property information with market context.
This 966-square-foot, two-bedroom, two-bath condominium is currently leased, with occupancy established through 2028. The residence is positioned on the west side of the Summer Wind community and includes direct access to a private park. The property was built in 1983.
Recent community improvements include a 2023 roof replacement, 2018 exterior paint and trim work, an upgraded pool area, a landscaped entrance, and a resurfaced driveway. Association services include the community pool, exterior and grounds maintenance, pest control, water, sewer, and trash.
The condominium is located at 4631 Summerwind Drive in Sarasota, approximately 5 minutes from SRQ Airport and 10 minutes from downtown Sarasota.
Recent community improvements include a 2023 roof replacement, 2018 exterior paint and trim work, an upgraded pool area, a landscaped entrance, and a resurfaced driveway. Association services include the community pool, exterior and grounds maintenance, pest control, water, sewer, and trash.
The condominium is located at 4631 Summerwind Drive in Sarasota, approximately 5 minutes from SRQ Airport and 10 minutes from downtown Sarasota.
Key Highlights
- 966 SF condominium with 2 bedrooms and 2 bathrooms
- Tenant occupied with income in place through 2028
- West‑end location within Summer Wind with immediate private park access
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
$11,688
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
7.92%
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%
$233,760
$233.8K
Cap Rate 7%
$166,971
$167.0K
Cap Rate 9%
$129,867
$129.9K
Market Conditions
NOI Build-Up for 966 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
$22.5K $23.28/SF
− Vacancy
−$1.2K −$1.28/SF
EGI
$21.3K $22.00/SF
− OpEx
−$9.6K −$9.90/SF
NOI
$11.7K $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%
$233,760
Cap Rate 7%
$166,971
Cap Rate 9%
$129,867
Alternative Uses
Best Use
Apartment 5plus
$167.0K
$146.1K – $194.8K
NOI $11,688 @ 7.0% cap · market cap 7.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$284.1K
$248.6K – $331.4K
NOI $19,885 @ 7.0% cap · market cap 13.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 34234, FL
20,858
Population
10,257
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
86%
High-School Grad
6.5 sq mi
ZIP Area
3,209
Density / Sq Mi
$56,607
Median Household Income
$33,536
Median Earnings
$1,352
Median Rent
$222,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom, two-bath condominium with income in place and access to community amenities.
Where is this residential income property located?
The property is located at 4631 SUMMERWIND DRIVE #16 Sarasota, FL.
What is the asking price?
The asking price for this property is $147,500.
What are key features of this property?
This property features: 966 SF condominium with 2 bedrooms and 2 bathrooms; Tenant occupied with income in place through 2028; West‑end location within Summer Wind with immediate private park access
