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 Market79
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
(941) 350-0048
Source:
Dennisrealty
Added: Aug 6
Changed: Oct 21
Last Checked: Oct 23 at 10:03AM
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
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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 / Yr
$13,347
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,940
$266.9K
Cap Rate 7%
$190,671
$190.7K
Cap Rate 9%
$148,300
$148.3K
Market Conditions
NOI Build-Up for 1,306 SF
Gross rent
$21.2K $16.20/SF
− Vacancy
−$2.1K −$1.60/SF
EGI
$19.1K $14.60/SF
− OpEx
−$5.7K −$4.38/SF
NOI
$13.3K $10.22/SF
Area
Sarasota County, FL
Vacancy
9.88%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,940
Cap Rate 7%
$190,671
Cap Rate 9%
$148,300
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.8K – $222.5K
NOI $13,347 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$169.9K
$148.7K – $198.2K
NOI $11,894 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$371.2K
$324.8K – $433.0K
NOI $25,982 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,460
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
