- For Sale $1,235,000
- Property Type Multi-Family
- Property Size 6,600 SF
- Units 8
- Lot Size 0.42 Acre
- Parking Spaces Avail. 2
- Property Tenancy Multi-Tenant
- Year Renovated 2025
- Date Updated Feb 14, 2025
Reach out to the broker for more info on lease terms and amenities
Highlights
- THE PALMETTO PLACE APARTMENTS FOR SALE!
- 8-UNIT APARTMENT COMPLEX LOCATED IN HISTORIC PALMETTO, FL!
- 100% OCCUPIED! LONG TERM TENANTS! MASSIVE UPSIDE AS THE CURRENT RENTAL RATES ARE APPROXIMATELY $300-$350 BELOW THE MARKET AVERAGE!
- SELLER FINANCING AVAILABLE! APPROX. TERMS: $550,000 DOWN, 4.5% IR (YEAR 1), 5.5% IR (YEAR 2, 6.5 % IR (YEAR 3), INTEREST-ONLY PAYMENTS, 3-YEAR BALLON!
- 2025 CASH-ON-CASH RETURN: 10%!
- 2026 CAP RATE: 8.5%!
- 2026 CASH-ON-CASH RETURN: 13%!
- 2027 CAP RATE: 9%!
- 2027 CASH-ON-CASH RETURN: 14%!
- NEW COURTYARD AND LAUNDRY FACILITIES WERE ADDED IN 2O25!
- THE ROOF WAS REPLACED IN 2020!
- HVAC SYSTEMS WERE REPLACED IN 2019!
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Contacts
Location
Getting Around
-
Walk Score ®
35/100
Car-Dependent
-
Bike Score ®
59/100
Bikeable
- City Palmetto, FL
- Neighborhood Memphis
- Zip Code 34221
- Market Southwest Florida Coast
Points of Interest
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RaceTrac
0.17 miles
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Mobil
0.53 miles
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Citgo
0.73 miles
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Wawa
2.60 miles
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BP
2.87 miles
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ONE9
3.04 miles
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Kriya
3.08 miles
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Electrify America
3.37 miles
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Tesla Supercharger
3.38 miles
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Shell
3.58 miles
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Publix
0.94 miles
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Riverwalk Lot
2.27 miles
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City Centre Parking Garage
2.40 miles
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Lewis Park parking lot
2.88 miles
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Parking North
3.29 miles
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Parking East
3.43 miles
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Starbucks parking
6.57 miles
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Overflow Parking
6.61 miles
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Robinson Preserve South Parking Lot
7.06 miles
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Courtyard Bradenton Sarasota/Riverfront
2.16 miles
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SpringHill Suites Bradenton Downtown/Riverfront
2.34 miles
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Hampton Inn & Suites
2.43 miles
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Red Roof Inn Ellenton
2.94 miles
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Super 8
3.11 miles
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Hampton Inn Ellenton/Bradenton
3.52 miles
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9th St West Motel
3.67 miles
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Baxter's Motel
4.14 miles
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Days Inn by Wyndham Bradenton - Near the Gulf
4.27 miles
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Villa FloridaDream in Bradenton/Anna Maria Island zu vermieten
4.92 miles
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Wendy's
0.67 miles
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Dunkin'
0.68 miles
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Taco Bell
0.70 miles
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Burger King
0.72 miles
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BURGER AND PANCAKE HOUSE
0.72 miles
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McDonald's
0.74 miles
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La Familia
0.86 miles
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El Sombrero
0.93 miles
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Demi's NOODLE HOUSE
1.33 miles
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Riviera Dunes Dockside
1.33 miles
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Lincoln Memorial Middle School
0.29 miles
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James Tillman Elementary School
0.91 miles
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Palmetto High School
0.99 miles
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Blackburn Elementary School
2.27 miles
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Manatee Elementary School
2.70 miles
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Ballard Elementary School
2.97 miles
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G.D. Rogers Garden Elementary
3.01 miles
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PAL Charter School
3.03 miles
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Universty of Florida Experimental Station
3.06 miles
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Saint Stephens Episcopal School
3.34 miles
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Sammy's Small World Daycare
9.19 miles
Frequently Asked Questions
The space currently listed for sale at 13% CASH-ON-CASH RETURN! THE PALMETTO PLACE APARTMENTS FOR SALE! (SELLER FINANCING AVAILABLE!) asks for $1,235,000.
13% CASH-ON-CASH RETURN! THE PALMETTO PLACE APARTMENTS FOR SALE! (SELLER FINANCING AVAILABLE!) totals 6,600 square feet.
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Grimaldi Commercial Realty Corp.
