Vacant Duplex With Central
For Sale
$359,999
4975 DAVID AVENUE, Sarasota, FL 34234
Vacant duplex with separate electric meters, public water and sewer, and central A/C, with interior renovation needed.
Property Size2,201 SF
Price / SF$163.56
Days on Market25
Property Features for 4975 DAVID AVENUE
General Information
Standard status
Active
Size
2,201 SF
Property subtype
Half Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1992
Listing Agency:
RICHARD PETERS REALTY LLC
(786) 418-1388
Listed By:
Harrison Wilfley · License #3644011
Source:
Dennisrealty
Added: Jul 17
Changed: Aug 9
Last Checked: Aug 9 at 4:41AM
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 RICHARD PETERS REALTY LLC
Investment Insights
Based on property information with market context.
This is a vacant duplex with separate electric meters, public water and sewer, and central A/C in each unit. The property includes functional floor plans and spacious layouts, but it is being sold AS-IS and requires interior updating, including kitchen renovations, bathroom fixture and appliance replacement.
Major exterior and systems-related improvements have already been completed, including a metal roof installed in 2016, newer A/C installed in 2017, gutters, repaired drainage, professional pest treatment, and approximately $12,000 invested in clean-out and cleaning. Interior renovation needs vary by unit, with one unit requiring less work than the other, allowing for phased updates.
The property is located approximately one mile from Ringling College of Art & Design, just minutes from Downtown Sarasota, and only a few blocks from Sarasota-Bradenton International Airport. Nearby destinations referenced include The Ringling Museum, St. Armands Circle, Lido Key, University Town Center (UTC), and Sarasota Memorial Health Care System. Seller requests highest and best by 08/01/2026.
Major exterior and systems-related improvements have already been completed, including a metal roof installed in 2016, newer A/C installed in 2017, gutters, repaired drainage, professional pest treatment, and approximately $12,000 invested in clean-out and cleaning. Interior renovation needs vary by unit, with one unit requiring less work than the other, allowing for phased updates.
The property is located approximately one mile from Ringling College of Art & Design, just minutes from Downtown Sarasota, and only a few blocks from Sarasota-Bradenton International Airport. Nearby destinations referenced include The Ringling Museum, St. Armands Circle, Lido Key, University Town Center (UTC), and Sarasota Memorial Health Care System. Seller requests highest and best by 08/01/2026.
Key Highlights
- Vacant duplex built in 1992 with renovation needed for interior updates including kitchens, bathrooms, and appliances
- Separate electric meters and public water and sewer for each unit
- Central A/C and functional floor plans in both units
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
$28,913
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
8.03%
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%
$578,260
$578.3K
Cap Rate 7%
$413,043
$413.0K
Cap Rate 9%
$321,256
$321.3K
Market Conditions
NOI Build-Up for 2,201 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
$43.6K $19.80/SF
− Vacancy
−$2.3K −$1.03/SF
EGI
$41.3K $18.77/SF
− OpEx
−$12.4K −$5.63/SF
NOI
$28.9K $13.14/SF
Area
Manatee County, FL
Vacancy
5.22%
Lease Rate
$19.80 /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%
$578,260
Cap Rate 7%
$413,043
Cap Rate 9%
$321,256
Alternative Uses
Best Use
Multifamily LT 5
$413.0K
$361.4K – $481.9K
NOI $28,913 @ 7.0% cap · market cap 8.03%
Second Best
Apartment 5plus
$380.5K
$332.9K – $443.9K
NOI $26,632 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$647.2K
$566.3K – $755.1K
NOI $45,307 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
390
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant duplex with separate electric meters, public water and sewer, and central A/C, with interior renovation needed.
Where is this duplex located?
The property is located at 4975 DAVID AVENUE Sarasota, FL.
What is the asking price?
The asking price for this property is $359,999.
What are key features of this property?
This property features: Vacant duplex built in 1992 with renovation needed for interior updates including kitchens, bathrooms, and appliances; Separate electric meters and public water and sewer for each unit; Central A/C and functional floor plans in both units
