210 ALBEE ROAD W at

210 ALBEE ROAD W

For sale Days on market 71

$799,000

$173/sq ft

$50,000
Price Decreased

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Overview

Year Built

1972

Sqft

4608

Property Type

Quadruplex

Property Description

Under contract-accepting backup offers. This rare coastal multifamily opportunity offers strong value-add potential in the highly sought-after Nokomis–Venice corridor, just off U.S. 41 (Tamiami Trail)—one of the region’s busiest commercial and residential corridors. The property currently consists of four units across two concrete-block buildings on a 14,130 sq. ft. lot, with flexible RMF-3 zoning that allows for expansion to a total of six units. Existing layouts include a mix of two 2BD/2BA and two 3BD/2BA units, with the potential to create four 1 BD/1BA units through strategic renovation or redevelopment. Recent capital improvements—new roofs, multiple AC systems, renovated kitchens, and full connection to public water and sewer (2022)—significantly reduce near-term expenses and position the property for immediate income growth. Current rents are approximately $200 below market, and occupancy stands at 50%, offering substantial upside. Durable concrete-block construction, potential in-unit laundry, patios/balconies, and central AC enhance long-term tenant appeal. The property’s prime location delivers high visibility and convenient access to Nokomis Beach, Venice Island, I-75, and major Sarasota employment centers, drawing a broad and steady renter base. Importantly, only one of the two buildings has been fully renovated, leaving additional value-add potential through upgrades to the second building—as well as the ability to increase density under existing zoning. This investment represents a rare chance to acquire a coastal multifamily asset in a supply-constrained, high-demand rental market, with both near-term income upside and long-term appreciation potential—plus the unique opportunity to expand from four units to six.

Property Details

MLS#

A4673788

Address

210 ALBEE

City

NOKOMIS

State/county

Zip/Postal Code

34275

Area

Nokomis

Country

United States

HOA

Assoc Fee

$--

Assoc Fee Pd

Tax Amount

$8,750

Maint Fee

$--

Tax Year

2024

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