Las Palmas Townhouse with
For Sale
$338,900
5600 BENTGRASS DRIVE 103, Sarasota, FL 34235
Townhouse with resort-style amenities, renovated features, and convenient location.
Property Size1,615 SF
Price / SF$209.85
Days on Market652
Property Features for 5600 BENTGRASS DRIVE 103
General Information
Standard status
Active
Size
1,615 SF
Property subtype
Condo/Townhome
Taxes and HOA fees
Annual Taxes
$3,009
Building Details
Year Built
2002
Listing Agency:
COLDWELL BANKER REALTY
(941) 822-9433
Listed By:
Naty Gomes · License #3431104
(941) 822-9433
Source:
Exitrealty
Added: Oct 30, 2024
Changed: Aug 8
Last Checked: Aug 12 at 3:27AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This townhouse in Las Palmas features 3 bedrooms and 2 bathrooms. The property offers access to resort-style amenities, including 2 heated pools, a clubhouse, a heated spa, a tennis court, a fitness center, and a billiard room. The home features renovated bathrooms and stone countertops in the kitchen. Brand-new stainless steel appliances are installed. The location provides convenient access to University Parkway, I-75, UTC Mall, fine dining, shopping, the airport, and Nathan Benderson Park. The property size is 1615 square feet.
Key Highlights
- Resort‑style amenities: Enjoy 2 heated pools, clubhouse, heated spa, tennis court, fitness center, and billiard room.
- Convenient location: Near University Parkway, I‑75, UTC Mall, fine dining, shopping, the airport, and Nathan Benderson Park.
- Features 3 bedrooms and 2 bathrooms.
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
$19,541
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
5.77%
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%
$390,820
$390.8K
Cap Rate 7%
$279,157
$279.2K
Cap Rate 9%
$217,122
$217.1K
Market Conditions
NOI Build-Up for 1,615 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
$37.6K $23.28/SF
− Vacancy
−$2.1K −$1.28/SF
EGI
$35.5K $22.00/SF
− OpEx
−$16.0K −$9.90/SF
NOI
$19.5K $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%
$390,820
Cap Rate 7%
$279,157
Cap Rate 9%
$217,122
Alternative Uses
Best Use
Apartment 5plus
$279.2K
$244.3K – $325.7K
NOI $19,541 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$474.9K
$415.6K – $554.1K
NOI $33,244 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 34235, FL
14,536
Population
8,187
Households
1.8
Avg Household Size
57
Median Age
38%
College-Educated
93%
High-School Grad
6.2 sq mi
ZIP Area
2,345
Density / Sq Mi
$72,948
Median Household Income
$40,778
Median Earnings
$1,729
Median Rent
$338,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Townhouse with resort-style amenities, renovated features, and convenient location.
Where is this residential income property located?
The property is located at 5600 BENTGRASS DRIVE 103 Sarasota, FL.
What is the asking price?
The asking price for this property is $338,900.
What are key features of this property?
This property features: Resort‑style amenities: Enjoy **2 heated pools, clubhouse, heated spa, tennis court, fitness center, and billiard room.**; Convenient location: Near University Parkway, I‑75, UTC Mall, fine dining, shopping, the airport, and Nathan Benderson Park.; Features 3 bedrooms and 2 bathrooms.
