Punta Gorda Duplex with Water
509 W RETTA ESPLANADE Punta Gorda, FL 33950
509 W RETTA ESPLANADE, Punta Gorda, FL, 33950
$650,000
For Sale
$650,000
Duplex in Historic District with water views and pool.
Property Size2,240 SF
Price / SF$290.18
Days on Market457
Property Features for 509 W RETTA ESPLANADE
General Information
- Standard status
- Active
- Size
- 2,240 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1986
Listing Agency
GRANT TEAM REAL ESTATE, LLC
(941) 205-8481
Listed by
Christopher Grant · License #3238094
(941) 205-8481
Source
Exitrealty
Added: Apr 17, 2025 Checked: Jul 17 at 4:17 am
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 GRANT TEAM REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
This well-maintained duplex is located in the Historic District of Punta Gorda. The property features water views and an in-ground pool. Each unit includes 2 bedrooms and 2 full bathrooms. The upstairs and downstairs layouts are similar, featuring open concept living spaces, updated kitchens, and private outdoor areas. The backyard includes a pool overlooking the waterfront. The property is located near Gilchrist Park and within walking distance of dining, shopping, and the Harborwalk. This property is suitable for multi-generational living, rental income, or accommodating seasonal guests. The property is 2240 square feet.
Key Highlights
- Waterfront property with breathtaking water views and spectacular sunsets.
- In‑ground pool and tropical backyard oasis perfect for entertaining and relaxation.
- Located in Punta Gorda's Historic District, steps from Gilchrist Park, dining, shopping, and the Harborwalk.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.2k | $17.04 |
| − Vacancy | −$7.2k | −$3.22 |
| EGI | $31.0k | $13.82 |
| − OpEx | −$9.3k | −$4.15 |
| NOI | $21.7k | $9.67 |
2,240 SF · lease $17.04/SF/yr · vacancy 18.90% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$309.6K
$270.9K – $361.2K
NOI $21,669 @ 7.0% cap · market cap 3.33%
Second Best
Apartment 5plus
$282.5K
$247.2K – $329.6K
NOI $19,776 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$733.4K
$641.8K – $855.7K
NOI $51,341 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex in Historic District with water views and pool.
Where is this duplex located?
The property is located at 509 W RETTA ESPLANADE Punta Gorda, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Waterfront property with breathtaking water views and spectacular sunsets.; In‑ground pool and tropical backyard oasis perfect for entertaining and relaxation.; Located in Punta Gorda's Historic District, steps from Gilchrist Park, dining, shopping, and the Harborwalk.
