Wood-Frame
For Sale
$449,000
602 26th Street West, Bradenton, FL 34205
R1C-zoned residential income property with wall/window unit cooling.
Property Size1,732 SF
Price / SF$259.24
Days on Market55
Property Features for 602 26th Street West
General Information
Standard status
Active
Size
1,732 SF
Property subtype
Residential Income / Quadruplex
Zoning
R1C
Taxes and HOA fees
Annual Taxes
$2,403
Amenities
Wall/Window Unit(s)
Electric
No
5
Ninguno
Square Feet
Owner
Shingle
Slab
Wood Frame
Building Details
Year Built
1915
Listing Agency:
GULF COAST PARADISE REALTY INC
(941) 536-3039
Listed By:
Carmen Melendez · License #3151884
(941) 536-3039
Source:
Compass
Added: Jul 9
Changed: Aug 31
Last Checked: Aug 31 at 3:53AM
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 GULF COAST PARADISE REALTY INC
Investment Insights
Based on property information with market context.
This quadplex offers 1,732 square feet within a wood-frame building constructed in 1915. The property includes wall/window unit cooling, electric service, a shingle exterior feature, and a slab foundation.
Located at 602 26th Street West in Bradenton, Florida, the property carries R1C zoning. Its four-unit configuration and established residential format support continued use as a multifamily asset.
Located at 602 26th Street West in Bradenton, Florida, the property carries R1C zoning. Its four-unit configuration and established residential format support continued use as a multifamily asset.
Key Highlights
- Quadplex with 1,732 square feet
- R1C zoning
- Built in 1915
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
$22,752
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
5.07%
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%
$455,040
$455.0K
Cap Rate 7%
$325,029
$325.0K
Cap Rate 9%
$252,800
$252.8K
Market Conditions
NOI Build-Up for 1,732 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
$34.3K $19.80/SF
− Vacancy
−$1.8K −$1.03/SF
EGI
$32.5K $18.77/SF
− OpEx
−$9.8K −$5.63/SF
NOI
$22.8K $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%
$455,040
Cap Rate 7%
$325,029
Cap Rate 9%
$252,800
Alternative Uses
Best Use
Multifamily LT 5
$325.0K
$284.4K – $379.2K
NOI $22,752 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$299.4K
$262.0K – $349.3K
NOI $20,957 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$509.3K
$445.7K – $594.2K
NOI $35,653 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - R1C-zoned residential income property with wall/window unit cooling.
Where is this quadplex located?
The property is located at 602 26th Street West Bradenton, FL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Quadplex with 1,732 square feet; R1C zoning; Built in 1915
