Englewood Multifamily Investment
602 Harvard Street, Englewood, FL 34223
For Sale
Contact for pricing
Fully furnished, 10-unit apartment community in Sarasota County, Florida.
Property Size5,650 SF
Price / SF$292.04
Days on Market174
Property Features for 602 Harvard Street
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Units
Tenancy
Listing Agency:
Colliers - Tampa, Florida
Listed By:
Colton Williams · License FL SL3573846
(813) 605-4473
Source:
Crexi
Added: May 22
Changed: Nov 6
Last Checked: Nov 10 at 7:33AM
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 Colliers - Tampa, Florida
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Investment Insights
Based on property information with market context.
This fully furnished, 10-unit apartment community, known as Botanic Bungalows, is located in the Englewood submarket of Sarasota County, Florida. The property is 100% occupied. The property is situated a half-mile from Englewood's downtown and less than 2 miles from Manasota Key. The submarket has a median age of 68 and average household incomes of $100,000 within 10 minutes. Four of the ten tenants have been in place since 2021 or earlier. The property features a newly installed well, freshly serviced HVAC systems, and metal roofs.
Key Highlights
- High annual return after debt of 20%
- 100% occupied, 10‑unit fully furnished community
- Located in the affluent Englewood submarket of Sarasota County, Florida, near downtown and Manasota Key
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,882
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,640
$997.6K
Cap Rate 7%
$712,600
$712.6K
Cap Rate 9%
$554,244
$554.2K
Market Conditions
NOI Build-Up for 5,650 SF
Gross rent
$113.2K $20.04/SF
− Vacancy
−$22.5K −$3.99/SF
EGI
$90.7K $16.05/SF
− OpEx
−$40.8K −$7.22/SF
NOI
$49.9K $8.83/SF
Area
Charlotte County, FL
Vacancy
19.90%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$997,640
Cap Rate 7%
$712,600
Cap Rate 9%
$554,244
Alternative Uses
Best Use
Apartment 5plus
$712.6K
$623.5K – $831.4K
NOI $49,882 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,498 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
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Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Charlotte County, FL
Properties on Market for Apartment buildings in Charlotte County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully furnished, 10-unit apartment community in Sarasota County, Florida.
Where is this apartment building located?
The property is located at 602 Harvard Street Englewood, FL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: High annual return after debt of 20%; 100% occupied, 10‑unit fully furnished community; Located in the affluent Englewood submarket of Sarasota County, Florida, near downtown and Manasota Key
