2700 Palmadelia Avenue
Sarasota, FL 34234 · Sarasota County
$2,750,000
0
Beds
0
Baths
7,744
Sq ft
1980
Year built
Location
About this home
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.
Facts & features
Interior
- Living area
- 7,744 sq ft
- Cooling
- Other
Exterior & lot
- Lot size
- 0.54 acres
- Construction
- Block
Financial
- Price / sqft
- $355/sqft
- Annual tax
- $17,978
- Tax year
- 2025
Utilities
- Utilities
- Electricity Available
- Water
- Public
- Sewer
- Public Sewer
Property
- Property type
- Commercial
- Year built
- 1980
- Subdivision
- Newtown Heights First Add To
- Days on market
- 1 day
Estimate your monthly cost
Twenty percent down over thirty years at 6.5%. Insurance is not included.
- Principal & interest
- $13,905
- Property tax
- $1,498
- Estimated monthly
- $15,403
Ask about this property
Answered from this listing’s own figures and the sales around it.
Similar homes nearby
Price history
From the property’s MLS record.
| Date | Event | Price | Change |
|---|---|---|---|
| Oct 19, 2026 | Listed | $2,750,000 | — |
Neighbourhood
The schools below come from the MLS record for this home. Walking, transit and cycling figures for Sarasota, FL are not connected yet, so this page does not show them.
About this area
SARASOTA, FL sits in Sarasota County.
Written from this listing’s own record and the homes we hold nearby.
- Elementary school
- Not listed
- Not named in the MLS record for this home
- Middle school
- Not listed
- Not named in the MLS record for this home
- High school
- Not listed
- Not named in the MLS record for this home
Frequently asked questions
What would 2700 PALMADELIA AVENUE, SARASOTA cost per month?
About $15,404 a month: $13,906 principal and interest, $1,498 property tax. That assumes 20% down at 6.5% over 30 years, and leaves out insurance.
Is 2700 PALMADELIA AVENUE, SARASOTA priced fairly?
It is listed at $2,750,000. There are not enough comparable homes close by to put a range around that yet, so the asking price is the honest answer.
How long has 2700 PALMADELIA AVENUE, SARASOTA been on the market?
It came on the market today.
Has the price of 2700 PALMADELIA AVENUE, SARASOTA changed?
The price has not moved since it was listed.
How big is 2700 PALMADELIA AVENUE, SARASOTA?
7,744 square feet. That is $355 a square foot.
What year was 2700 PALMADELIA AVENUE, SARASOTA built?
Built in 1980.
What is the HOA fee at 2700 PALMADELIA AVENUE, SARASOTA?
The feed lists no association fee for this property.
What are the property taxes at 2700 PALMADELIA AVENUE, SARASOTA?
Property tax works out to about $1,498 a month, $17,978 a year, on the 2025 assessment.
Is 2700 PALMADELIA AVENUE, SARASOTA still available?
It is still on the market.
Listing
- Listed by
- Rex Glasson
- Brokerage
- DOUGLAS ELLIMAN
- MLS number
- MFR814443473
Listing information is deemed reliable but is not guaranteed.