Downtown Duplex
For Sale
$385,000
632/634 N EAST AVENUE, Sarasota, FL 34237
Two-unit residential income property near downtown Sarasota and Sarasota Bay, with DTN mixed-use zoning.
Property Size1,306 SF
Price / SF$294.79
Days on Market11
Property Features for 632/634 N EAST AVENUE
General Information
Standard status
Active
Size
1,306 SF
Property subtype
Duplex
Zoning
DTN
Additional Details
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
CENTURY 21 ROSEBAY
(941) 366-7673
Listed By:
Este Lennox · License #0691201
Source:
Dennisrealty
Added: Aug 6
Changed: Aug 15
Last Checked: Aug 16 at 6:22AM
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 CENTURY 21 ROSEBAY
Investment Insights
Based on property information with market context.
Built in 1955, this duplex property at 632/634 N East Avenue comprises two residential units and is currently used as an income-producing asset. The property is located near downtown Sarasota and Sarasota Bay, placing it within an established urban setting.
The site carries DTN mixed-use zoning and falls under Sarasota’s Downtown Master Plan of 2020. This planning framework is associated with diverse, compact, walkable urban communities and provides the governing context for future property planning.
The site carries DTN mixed-use zoning and falls under Sarasota’s Downtown Master Plan of 2020. This planning framework is associated with diverse, compact, walkable urban communities and provides the governing context for future property planning.
Key Highlights
- Two residential units in a duplex configuration
- DTN mixed‑use zoning
- Falls under the Downtown Master Plan of 2020
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
$17,156
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
4.46%
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%
$343,120
$343.1K
Cap Rate 7%
$245,086
$245.1K
Cap Rate 9%
$190,622
$190.6K
Market Conditions
NOI Build-Up for 1,306 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
$25.9K $19.80/SF
− Vacancy
−$1.3K −$1.03/SF
EGI
$24.5K $18.77/SF
− OpEx
−$7.4K −$5.63/SF
NOI
$17.2K $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%
$343,120
Cap Rate 7%
$245,086
Cap Rate 9%
$190,622
Alternative Uses
Best Use
Multifamily LT 5
$245.1K
$214.5K – $285.9K
NOI $17,156 @ 7.0% cap · market cap 4.46%
Second Best
Apartment 5plus
$225.7K
$197.5K – $263.4K
NOI $15,802 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$384.1K
$336.1K – $448.1K
NOI $26,884 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 34237, FL
16,740
Population
9,194
Households
1.8
Avg Household Size
42
Median Age
26%
College-Educated
89%
High-School Grad
3.9 sq mi
ZIP Area
4,292
Density / Sq Mi
$63,133
Median Household Income
$35,044
Median Earnings
$1,524
Median Rent
$234,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property near downtown Sarasota and Sarasota Bay, with DTN mixed-use zoning.
Where is this duplex located?
The property is located at 632/634 N EAST AVENUE Sarasota, FL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two residential units in a duplex configuration; DTN mixed‑use zoning; Falls under the Downtown Master Plan of 2020
