Updated Waterfront Rental
New
For Sale
$84,800
7150 N TAMIAMI TRAIL #C216, Sarasota, FL 34243
Second-floor studio with refreshed interiors and access to resort amenities.
Property Size348 SF
Price / SF$243.68
Days on Market7
Property Features for 7150 N TAMIAMI TRAIL #C216
General Information
Standard status
Active
Size
348 SF
Property subtype
Condo - Hotel
Units
Unit Mix
1 x studio/efficiency
Multifamily Units
1
Additional Details
Furnished
Yes
Amenities
waterfront marina
resort-style pool
fitness center
business center
waterfront walkways
on-site dining
tiki bar
1.34 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: 6697103059, Public Survey Range: 17E, Public Survey Section: 26, Annual Amount: $1,236.57, Tax Book Number: 2078-2292, Legal Description: UNIT C-216 SARASOTA CAY CLUB CONDOMINIUM PI#66971.0305/9, Lot: 216, Year: 2025, Zoning: WR/AI/PD
Luxury Vinyl
Wall/Window Unit(s)
Electric
Listing ID: MFRA4705668, Standard Status: Active, MLS Status: Active, Property Subtype: Condo - Hotel, On market as of 2026-09-16, 1 day on market, Special Conditions: None
1 total bedroom
Built in 1959, Living area: 348, Living area units: Square Feet, Building faces East, 1 storey, Levels: One, Construction Materials: Block
Subdivision: SARASOTA CAY CLUB CONDO, MLS Area (Major): 34243 - Sarasota, County/Parish: Manatee
1 total bathroom, 1 full bathroom
Fitness Center, Restaurant
Cable Connected, Electricity Connected, Water Source: Public
Slab
Bay/Harbor, Marina in Community
Road Surface: Asphalt
Balcony, Sidewalk
Open Floorplan
Bar Fridge
Fee Includes: Cable TV, Pool, Maintenance Structure, Management, Recreational Facilities
Building Details
Year Built
1959
Listing Agency:
EXIT KING REALTY
(941) 497-6060
Listed By:
Robert Halbman · License #3282525
(941) 927-6060
Source:
Miharaandassociates
Added: Sep 16
Changed: Sep 21
Last Checked: Sep 21 at 6:07AM
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 EXIT KING REALTY
Investment Insights
Based on property information with market context.
This 348-square-foot second-floor studio/efficiency is part of the Ramada by Wyndham Sarasota Waterfront and has been updated with new flooring, fresh paint, new furnishings, and recessed LED ceiling lighting. The unit is furnished and configured for personal use or rental occupancy, with on-site management available and the option for owners to manage their own rental.
Community amenities include a waterfront marina, pool, on-site dining, tiki bar, fitness center, business center, and waterfront walkways. The property is near shopping, dining, entertainment, beaches, and Sarasota-Bradenton International Airport. Built in 1959, the unit offers a compact lodging format within an amenity-rich waterfront community.
Community amenities include a waterfront marina, pool, on-site dining, tiki bar, fitness center, business center, and waterfront walkways. The property is near shopping, dining, entertainment, beaches, and Sarasota-Bradenton International Airport. Built in 1959, the unit offers a compact lodging format within an amenity-rich waterfront community.
Key Highlights
- 348 SF second‑floor studio/efficiency
- Updated with new flooring, paint, furnishings, and recessed LED ceiling lighting
- Ramada by Wyndham Sarasota Waterfront community
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
$4,211
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
4.97%
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%
$84,220
$84.2K
Cap Rate 7%
$60,157
$60.2K
Cap Rate 9%
$46,789
$46.8K
Market Conditions
NOI Build-Up for 348 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
$8.1K $23.28/SF
− Vacancy
−$446 −$1.28/SF
EGI
$7.7K $22.00/SF
− OpEx
−$3.4K −$9.90/SF
NOI
$4.2K $12.10/SF
Area
Manatee County, FL
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$84,220
Cap Rate 7%
$60,157
Cap Rate 9%
$46,789
Alternative Uses
Best Use
Apartment 5plus
$60.2K
$52.6K – $70.2K
NOI $4,211 @ 7.0% cap · market cap 4.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$102.3K
$89.6K – $119.4K
NOI $7,164 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Explore this area
Business Placement
Demographics for 34243, FL
30,107
Population
16,287
Households
1.8
Avg Household Size
54
Median Age
43%
College-Educated
95%
High-School Grad
18.0 sq mi
ZIP Area
1,673
Density / Sq Mi
$79,799
Median Household Income
$42,586
Median Earnings
$1,960
Median Rent
$395,000
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?
Short term rental property - Second-floor studio with refreshed interiors and access to resort amenities.
Where is this short term rental property located?
The property is located at 7150 N TAMIAMI TRAIL #C216 Sarasota, FL.
What is the asking price?
The asking price for this property is $84,800.
What are key features of this property?
This property features: 348 SF second‑floor studio/efficiency; Updated with new flooring, paint, furnishings, and recessed LED ceiling lighting; Ramada by Wyndham Sarasota Waterfront community
