Retail Space with Office
For Sale
Contact for pricing
701 8th Ave W, Palmetto, FL 34221
Downtown Palmetto retail and office center steps from the Manatee River.
Property Size11,652 SF
Price / SF$137.32
Days on Market544
Property Features for 701 8th Ave W
General Information
Standard status
Active
Size
11,652 SF
Property subtype
RETAIL
Building Details
Tenancy
Multi
Listing Agency:
NDC Commercial Real Estate
(941) 724-8009
Listed By:
Benjamin Bakker, CCIM
(941) 724-8009
Source:
Moodyscre
Added: Feb 1, 2025
Changed: Jul 30
Last Checked: Jul 30 at 7:29AM
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 NDC Commercial Real Estate
Investment Insights
Based on property information with market context.
This retail and office center at 701 8th Ave W, Palmetto, FL 34221 offers a versatile layout totaling 11,652 SF. The property is described as having a dynamic mix of tenants, supporting flexible use as an income-producing retail and office asset.
The site is positioned in the heart of downtown Palmetto, just steps from the Manatee River. It also benefits from a location at a signalized intersection and is noted for high traffic counts, factors that can help support visibility and day-to-day customer access.
With its unusually large parcel size and prominent placement, the property is also presented as a candidate for redevelopment, offering a canvas for future reimagination in a thriving commercial hub.
The site is positioned in the heart of downtown Palmetto, just steps from the Manatee River. It also benefits from a location at a signalized intersection and is noted for high traffic counts, factors that can help support visibility and day-to-day customer access.
With its unusually large parcel size and prominent placement, the property is also presented as a candidate for redevelopment, offering a canvas for future reimagination in a thriving commercial hub.
Key Highlights
- 11,652 SF retail and office center at 701 8th Ave W, Palmetto, FL 34221
- Located in downtown Palmetto, just steps from the Manatee River
- Positioned at a signalized intersection
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $209.7k | $18.00 |
| − Vacancy | −$5.0k | −$0.43 |
| EGI | $204.7k | $17.57 |
| − OpEx | −$61.4k | −$5.27 |
| NOI | $143.3k | $12.30 |
11,652 SF · lease $18.00/SF/yr · vacancy 2.40% · expense 30.00%
Alternative Uses
Best Use
Office B
$2.72M
$2.38M – $3.17M
NOI $190,272 @ 7.0% cap · market cap 11.89%
Second Best
Retail
$2.05M
$1.79M – $2.39M
NOI $143,292 @ 7.0% cap · market cap 8.96%
Theoretical Best
Office A
$3.43M
$3.00M – $4.00M
NOI $239,854 @ 7.0% cap · market cap 14.99%
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
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 34221, FL
48,082
Population
24,812
Households
1.9
Avg Household Size
45
Median Age
28%
College-Educated
91%
High-School Grad
53.9 sq mi
ZIP Area
892
Density / Sq Mi
$74,314
Median Household Income
$40,072
Median Earnings
$1,459
Median Rent
$298,200
Median Home Value
Market
Vacancy Rate% for Office 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?
Retail space - Downtown Palmetto retail and office center steps from the Manatee River.
Where is this retail space located?
The property is located at 701 8th Ave W Palmetto, FL.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 11,652 SF retail and office center at 701 8th Ave W, Palmetto, FL 34221; Located in downtown Palmetto, just steps from the Manatee River; Positioned at a signalized intersection
