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Multifamily

Bay Point Apartments

102 Palmetto Rd E, Nokomis, FL 34275

Listing Price: Request For Offer

Number of Units
13
Gross SF
5,732

Investment Overview

Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Bay Point Apartments. This recently upgraded multifamily asset is located in Nokomis, Florida, and is ideally situated between Downtown Sarasota and Downtown Venice. Additionally, Bay Point offers an investor with the ability to acquire an asset within 15-minutes to the New Sarasota Memorial Hospital, Amazon Distribution Warehouse, Tervis Tumbler’s Global Headquarters, and PGT Innovations’ Headquarters. Bay Point Apartments was built in 1958 and consists of 13 Units, as well as offers a new buyer the opportunity to increase the current rents by $350+ through light unit renovations and annual leases, as well as achieve Year-2 Cash-on-Cash Return of 10.62% . A new buyer can also achieve $1,000+ in rental upside if operations convert to seasonal rentals, providing the potential to achieve greater than 20% Cash-on-Cash Returns.

Investment Highlights

  • Recently Upgraded Multifamily Asset Ideally Situated Between Downtown Sarasota and Downtown Venice
  • High Demand Rental Market With Only 94 Total Multifamily Units (Bay Point Accounts for 14% of the Total Multifamily Units in Nokomis Market)
  • $350+ In Rental Upside if Annual Leasing Operations Continue
  • Year-2 Cash-on-Cash Return of 10.62% Through Light Unit Renovations and Annual Leases

Exclusively Listed By

Financing By

Multifamily

Bay Point Apartments

Listing Price: Request For Offer

Number of Units
13
Gross SF
5,732

Investment Highlights

  • Recently Upgraded Multifamily Asset Ideally Situated Between Downtown Sarasota and Downtown Venice
  • High Demand Rental Market With Only 94 Total Multifamily Units (Bay Point Accounts for 14% of the Total Multifamily Units in Nokomis Market)
  • $350+ In Rental Upside if Annual Leasing Operations Continue
  • Year-2 Cash-on-Cash Return of 10.62% Through Light Unit Renovations and Annual Leases

Investment Overview

Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Bay Point Apartments. This recently upgraded multifamily asset is located in Nokomis, Florida, and is ideally situated between Downtown Sarasota and Downtown Venice. Additionally, Bay Point offers an investor with the ability to acquire an asset within 15-minutes to the New Sarasota Memorial Hospital, Amazon Distribution Warehouse, Tervis Tumbler’s Global Headquarters, and PGT Innovations’ Headquarters. Bay Point Apartments was built in 1958 and consists of 13 Units, as well as offers a new buyer the opportunity to increase the current rents by $350+ through light unit renovations and annual leases, as well as achieve Year-2 Cash-on-Cash Return of 10.62% . A new buyer can also achieve $1,000+ in rental upside if operations convert to seasonal rentals, providing the potential to achieve greater than 20% Cash-on-Cash Returns.

Exclusively Listed By

Financing By

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