Updated Duplex with Guest
For Sale
$665,000
711 32ND W STREET, Bradenton, FL 34205
Two-building property with renovated interiors, a detached one-bedroom suite, and no HOA restrictions.
Property Size2,340 SF
Price / SF$284.19
Days on Market593
Property Features for 711 32ND W STREET
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,237
Building Details
Year Built
1947
Listing Agency:
KELLER WILLIAMS ON THE WATER S
(941) 361-9031
Listed By:
Patrick Brogley · License #3360491
(941) 361-9031
Source:
Exitrealty
Added: Jan 15, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:34PM
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 KELLER WILLIAMS ON THE WATER S
Investment Insights
Based on property information with market context.
This 2,340-square-foot duplex property, built in 1947, includes a five-bedroom, two-bathroom main residence and a separate detached guest house. The primary home offers an open kitchen, dining, and living arrangement, along with an updated kitchen, renovated bathrooms, recessed lighting, a Florida room, and a large front porch. The additional suite measures approximately 615 square feet and contains one bedroom, one bathroom, a kitchen, and a living room.
The property is five minutes from downtown Bradenton, 4 miles from IMG Academy, and within a short drive of Bradenton Beach. Robinson Preserve, Sarasota’s cultural attractions, and Longboat Key are also nearby, with Longboat Key approximately 30 minutes away. No HOA restrictions provide added flexibility for the property’s use.
The property is five minutes from downtown Bradenton, 4 miles from IMG Academy, and within a short drive of Bradenton Beach. Robinson Preserve, Sarasota’s cultural attractions, and Longboat Key are also nearby, with Longboat Key approximately 30 minutes away. No HOA restrictions provide added flexibility for the property’s use.
Key Highlights
- Two‑building duplex property with a 5‑bedroom, 2‑bathroom main residence
- Detached in‑law suite measures approximately 615 square feet
- Guest house includes 1 bedroom, 1 bathroom, kitchen, and living room
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
$30,739
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
4.62%
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%
$614,780
$614.8K
Cap Rate 7%
$439,129
$439.1K
Cap Rate 9%
$341,544
$341.5K
Market Conditions
NOI Build-Up for 2,340 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
$46.3K $19.80/SF
− Vacancy
−$2.4K −$1.03/SF
EGI
$43.9K $18.77/SF
− OpEx
−$13.2K −$5.63/SF
NOI
$30.7K $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%
$614,780
Cap Rate 7%
$439,129
Cap Rate 9%
$341,544
Alternative Uses
Best Use
Multifamily LT 5
$439.1K
$384.2K – $512.3K
NOI $30,739 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$404.5K
$353.9K – $471.9K
NOI $28,313 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$688.1K
$602.1K – $802.8K
NOI $48,168 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Explore this area
Business Placement
Demographics for 34205, FL
33,789
Population
16,610
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
87%
High-School Grad
6.5 sq mi
ZIP Area
5,198
Density / Sq Mi
$51,170
Median Household Income
$37,037
Median Earnings
$1,323
Median Rent
$236,900
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-building property with renovated interiors, a detached one-bedroom suite, and no HOA restrictions.
Where is this duplex located?
The property is located at 711 32ND W STREET Bradenton, FL.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Two‑building duplex property with a 5‑bedroom, 2‑bathroom main residence; Detached in‑law suite measures approximately 615 square feet; Guest house includes 1 bedroom, 1 bathroom, kitchen, and living room
