Commercial Sale · Multi Family (5+)
2700 PALMADELIA AVENUE, SARASOTA, FL, 34234
Active19 days on marketListed Oct 19, 2026MLS #A4710042
About this property
The property at a glance
PALMADELIA APARTMENTS | 10-UNIT SARASOTA MULTIFAMILY INVESTMENT Discover an established income-producing apartment community at 2700 Palmadelia Avenue, Sarasota, FL 34234. Offered at $2,750,000, this 10-unit multifamily property combines existing rental income, a desirable Sarasota location, and potential value-add opportunities near Downtown Sarasota. THE PROPERTY | Ten apartments consisting of eight 3-bedroom, 1-bathroom residences and two 2-bedroom, 1-bathroom residences. Built in 1980, the two-story apartment building offers approximately 7,744 square feet of living area on a 0.54-acre parcel with approximately 23 on-site parking spaces. Ownership reports full occupancy. RENTAL INCOME | Current scheduled gross rental income of $204,000 annually, averaging $1,700 per apartment monthly. These figures represent scheduled rents, not independently verified historical collections. VALUE-ADD POTENTIAL | Existing rental rates offer opportunities to evaluate future rent adjustments, lease renewals, and operational improvements, subject to market conditions, existing lease agreements, applicable laws, and buyer due diligence. Investment underwriting identifies potential rental growth without requiring a substantial redevelopment strategy. PROPERTY FEATURES | Established 10-unit multifamily building with a combination of spacious two- and three-bedroom apartments, on-site parking, and an existing rental history. The property's unit mix provides flexibility for long-term residential rental operations. LOCATION | Situated in Sarasota's Newtown neighborhood, near Downtown Sarasota, with convenient access to US-301, major employment centers, shopping, dining, and regional Gulf Coast amenities. THE OPPORTUNITY | An established Sarasota multifamily investment property for buyers seeking existing rental income, operational flexibility, and potential long-term value creation. Suitable for consideration by private multifamily investors and 1031 exchange purchasers. Offering memorandum, current rent roll, and investment underwriting available for qualified purchasers. All income, expenses, occupancy, leases, property details, and investment projections are subject to independent buyer verification.
7,744
Building sq ft
$355
Price / sq ft
0.54
Lot acres
1980
Year built
10
Units
1
Building
CBN
Zoning
Multi Family (5+)
Property type
The numbers
Investment snapshot
5.3%
Cap rate
$144,525
Net operating income
$204,000
Gross income (yr)
$275,000
Price / unit
10
Units
Estimated payment (illustrative)
Estimated payment
$16,079/mo
Illustrative only. Commercial loans are underwritten on the property’s income (DSCR, cap rate) — typically 25–35% down with lender-set terms. Ask a commercial lender for real numbers. Taxes reflect the most recent bill on record; insurance is a typical-Florida estimate. Your lender’s numbers will differ. CENTURY 21 Edge partners with Florida’s best lenders.
Financing
Commercial financing works differently from a home loan — expect roughly 25–35% down with terms driven by the property’s income and your lender’s underwriting (DSCR, cap rate), not FHA or VA programs. Ask Colleen to connect you with a commercial lender for real numbers.
Where it sits
Location & trade area
What’s nearby
Business data © OpenStreetMap contributors
The area
Who's around this property
3,137
Population
$45,756
Median income
38
Median age
3
Avg household
$257,211
Median home value
$446/mo
Median rent
485
Households w/ kids
Consumer profile
From tryouts and casual pick-up games, to varsity tournaments and intramural matches, this population includes people who participate in organized athletics. Often through schools or public recreational areas.
Politically aware, this population is interested in civic issues on both the local and national level. They often discuss candidates for office, taxes, and political ideologies.
This population seeks to advocate for a more just world. Common activities include protests, rallies, and spreading awareness to the public about social justice issues.
Driven to succeed in the business world, this population seeks to progress in their career through networking happy hours, summits, and connecting with other professionals online.
Expressing a desire to give back and do good for the community, this behavior emphasizes charity. Common activities include volunteering, fundraisers, and donations.
There's more to student life than academics. It's about the experience - from classes and homecoming, to making lifetime friends and alumni events. These are students at school, taking classes online, or finding other ways to be students in their daily lives.
Recent sales
What actually sold near 2700 PALMADELIA AVENUE
The most comparable commercial properties that changed hands nearby. No two are identical — ask us for a full comparative analysis.
$16,200
334 S WASHINGTON BOULEVARD
8,694 sqft · $2/sqft · Sold Oct 9, 2025
$21,000
400 S WASHINGTON BOULEVARD
8,694 sqft · $2/sqft · Sold Jan 24, 2025
$550,000
2157 13TH STREET
6,508 sqft · $85/sqft · Sold Dec 3, 2024
Your team
The pros in your corner
Your agent
Colleen Brown
REALTOR® · CENTURY 21 Edge
Tours, offers, and every question about 2700 PALMADELIA AVENUE — start here.
Financing contact
Andrew Acosta
Acosta Home Loans with PRMG · NMLS #1468866
Ask about commercial financing options for 2700 PALMADELIA AVENUE.
See it in person
Schedule a tour
Live availability from Colleen's calendar — pick a time and it's booked.
Keep looking
Similar properties nearby
Listing courtesy of DOUGLAS ELLIMAN · Rex Glasson. MLS #A4710042.
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by Stellar MLS.
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