PARADISE BAY

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Paradise Bay in Bradenton, FL. Paradise Bay is a well-maintained 14-unit property constructed in 1958, and has a unit mix consisting of eight (8) efficiency’s, five (5) one-bedroom units, and one (1) two-bedroom unit. This property is located off Cortez Rd West, a major thoroughfare that connects Paradise Bay to Bradenton Beach and Anna Maria Island, both of which are less than 10 minutes from the property. Furthermore, the property is positioned to cater to both beach service workers and downtown Bradenton business professionals due to it being within a less than 20-minute radius of over 15,000 jobs both on the island and in the heart of downtown/south Bradenton.

Paradise Bay offers an investor the opportunity to acquire a well-located asset in an expanding market where the value is created through increasing the current rents and following the business plan highlighted in the offering memorandum. Upon completion of this business plan, an investor will allow themselves the potential to achieve an NOI of 53% and achieve cash-on-cash returns north of 10%.

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.

14
UNITS

7,390
SQFT

1958
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 4406 102nd St. W, Bradenton, FL

  • NUMBER OF UNITS: 14 Units

  • RENTABLE SQUARE FOOT: 7,390 SF

  • AVERAGE UNIT SIZE: 528 SF

  • NUMBER OF BUILDINGS: (7) Residential

  • LOT SIZE: 1.14 Acres +/-

  • FINANCING: Free and Clear

ASSET WITHIN A GROWING MARKET

  • Bite Size Value-Add Asset in one of Florida’s Hottest Markets

  • This Asset allows an investor to achieve additional income through a weekly income rental plan

  • Potential to Increase Net Operating Income by 53% After Completing Interior and Exterior Renovation Plan

  • Potential to Achieve Cash-On-Cash Returns North of 10% After Stabilization

  • Property is Centrally Located to Many of the Major Employers in the Sarasota/Bradenton Area (Blake Medical Hospital, IMG Academy, Tropicana Juice Plant, Beall’s Inc.)

CENTRALIZED LOCATION TO AREA ATTRACTIONS & EMPLOYERS

  • 4 –Minutes to Bradenton Beach

  • 10 –Minutes to Blake Medical Hospital (over 1,400 employees)

  • 10 –Minutes to IMG Academy (over 800 employees)

  • 11 –Minutes to Anna Maria Island

  • 12 –Minutes to Longboat Key

  • 13 –Minutes to State College of Florida, Bradenton

  • 16 –Minutes to Tropicana Juice Plant (over 1,200 employees)

  • 17 –Minutes to Beall’s Inc. (4,200 employees)

  • 19 –Minutes to Manatee Memorial Hospital (over 1,600 employees)

  • 19 –Minutes to Sarasota-Bradenton Airport

  • 20 –Minutes to Goodwill Industries Manasota Inc. (over 1,100 employees)

SARASOTA/BRADENTON: AN EXPANDING ECONOMY

  • #2 Fastest Growing Places 2021-2022 (US News & World Reporting)

  • #2 Best Places to Live in Florida 2021-2022 (US News & World Reporting)

  • #9 Best Places to Live 2021-2022 (US News & World Reporting)

  • 42.5% Expected Future Job Growth 2021-2022 (Bestplaces.net)

  • 53% Rent Growth 2021-2022 (ApartmentList.com)

  • 22% Increase in Single Family Home Sale Value 2021-2022 (RASM)

  • Sarasota-Bradenton MSA Population of 750,000

DEAL TEAM CONTACTS

Alec Neu
Investment Associate
O. (407) 557-3860
Alec.Neu@marcusmillichap.com

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours