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6023 15th St E, Bradenton, FL 34203
Commercial center with multiple rental suites, an available unit, and an adjoining vacant rear lot.
Property Size17,100 SF
Lot Size2.48 Acres
Price / SF$216.08
Days on Market41
Property Features for 6023 15th St E
General Information
Standard status
Active
Size
17,100 SF
Lot size
2.48 Acres
Property subtype
RETAIL
Zoning
HC
Building Details
Tenancy
Multi
Listing Agency:
RKW Button
(941) 313-1193
Listed By:
Jeff Button
(941) 313-1193
Source:
Moodyscre
Added: Jul 1
Changed: Aug 9
Last Checked: Aug 9 at 6:27AM
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 RKW Button
Investment Insights
Based on property information with market context.
This multi-tenant retail property contains 17,100 SF across 8 rental spaces, with suites ranging from 1,200 SF to 4,800 SF. 7 spaces are currently occupied, while 1 unit remains available. The property also includes a vacant lot at the rear, adding additional existing land area to the asset.
Situated at 6023 15th St E in Bradenton, Florida, the property is zoned HC, or Heavy Commercial District, by Manatee County. The combination of established occupancy, varied suite sizes, and remaining vacancy provides a current operating base with additional occupancy to address. Full occupancy is described as supporting an 8+% cap rate.
Situated at 6023 15th St E in Bradenton, Florida, the property is zoned HC, or Heavy Commercial District, by Manatee County. The combination of established occupancy, varied suite sizes, and remaining vacancy provides a current operating base with additional occupancy to address. Full occupancy is described as supporting an 8+% cap rate.
Key Highlights
- 17,100 SF multi‑tenant retail property on 2.48 Acres
- 8 rental spaces with 7 currently occupied
- Suite sizes range from 1,200 SF to 4,800 SF
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
$210,289
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
5.69%
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%
$4,205,780
$4.2M
Cap Rate 7%
$3,004,129
$3.0M
Cap Rate 9%
$2,336,544
$2.3M
Market Conditions
NOI Build-Up for 17,100 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
$307.8K $18.00/SF
− Vacancy
−$7.4K −$0.43/SF
EGI
$300.4K $17.57/SF
− OpEx
−$90.1K −$5.27/SF
NOI
$210.3K $12.30/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /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%
$4,205,780
Cap Rate 7%
$3,004,129
Cap Rate 9%
$2,336,544
Alternative Uses
Best Use
Retail
$3.00M
$2.63M – $3.50M
NOI $210,289 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.03M
$4.40M – $5.87M
NOI $352,000 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 24%
Apparel 8%
Burger King
Dining
14,434 visits/mo
0.3 miles
Checkers
Dining
8,993 visits/mo
0.2 miles
Dollar General
Shops & Services
7,180 visits/mo
0.1 miles
SUBWAY
Dining
4,816 visits/mo
0.2 miles
Citi Trends
Apparel
3,495 visits/mo
0.1 miles
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Perfumes Mania — 1903 60th Pl E, Bradenton, FL 34203
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Frequently Asked Questions
What type of property is this?
Shopping center - Commercial center with multiple rental suites, an available unit, and an adjoining vacant rear lot.
Where is this shopping center located?
The property is located at 6023 15th St E Bradenton, FL.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: 17,100 SF multi‑tenant retail property on 2.48 Acres; 8 rental spaces with 7 currently occupied; Suite sizes range from 1,200 SF to 4,800 SF
