NC-M Zoned Retail
New
For Sale
$799,000
712 61ST STREET E, Palmetto, FL 34221
NC-M zoning accommodates neighborhood-scale commercial uses, including retail, office, personal services, and community facilities.
Property Size4,336 SF
Price / SF$184.27
Days on Market6
Property Features for 712 61ST STREET E
General Information
Standard status
Active
Size
4,336 SF
Property subtype
Retail
Zoning
NC-M
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Listing Agency:
KELLER WILLIAMS ON THE WATER
(941) 729-7400
Listed By:
Andrew Garcia · License #3419600
(941) 281-5118
Source:
Endlesssummerrealty
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 28 at 7:19AM
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
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Investment Insights
Based on property information with market context.
This retail property in Palmetto carries NC-M (Neighborhood Commercial - Medium) zoning. The classification includes neighborhood retail and specialty markets, offices, personal services, and community or institutional uses; specific site and permitting requirements remain subject to verification.
The property is located on 61st Street E, with access to US-41 and US-19 for travel toward Bradenton, Sarasota, and the Tampa Bay market. The property dates to 1979.
The property is located on 61st Street E, with access to US-41 and US-19 for travel toward Bradenton, Sarasota, and the Tampa Bay market. The property dates to 1979.
Key Highlights
- NC‑M (Neighborhood Commercial - Medium) zoning
- Located on 61st Street E in Palmetto
- Access to US‑41 and US‑19
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,322
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,066,440
$1.1M
Cap Rate 7%
$761,743
$761.7K
Cap Rate 9%
$592,467
$592.5K
Market Conditions
NOI Build-Up for 4,336 SF
Gross rent
$78.0K $18.00/SF
− Vacancy
−$1.9K −$0.43/SF
EGI
$76.2K $17.57/SF
− OpEx
−$22.9K −$5.27/SF
NOI
$53.3K $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 Rate 5%
$1,066,440
Cap Rate 7%
$761,743
Cap Rate 9%
$592,467
Alternative Uses
Best Use
Retail
$761.7K
$666.5K – $888.7K
NOI $53,322 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,256 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
795
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
CubeSmart Self Storage
Shops & Services
795 visits/mo
0.5 miles
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
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Retail space - NC-M zoning accommodates neighborhood-scale commercial uses, including retail, office, personal services, and community facilities.
Where is this retail space located?
The property is located at 712 61ST STREET E Palmetto, FL.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: NC‑M (Neighborhood Commercial - Medium) zoning; Located on 61st Street E in Palmetto; Access to US‑41 and US‑19
