Contacts

Grimaldi Commercial Realty Corp.
Property Details
- Property Type Multi-Family
- Property Size 6,600 SF
- Units 8
- Lot Size 0.42 Acre
- Parking Spaces Avail. 2
- Property Tenancy Multi-Tenant
- Year Renovated 2025
- Date Updated Feb 14, 2025
Reach out to the broker for more info on lease terms and amenities
Highlights
- THE PALMETTO PLACE APARTMENTS FOR SALE!
- 8-UNIT APARTMENT COMPLEX LOCATED IN HISTORIC PALMETTO, FL!
- 100% OCCUPIED! LONG TERM TENANTS! MASSIVE UPSIDE AS THE CURRENT RENTAL RATES ARE APPROXIMATELY $300-$350 BELOW THE MARKET AVERAGE!
- SELLER FINANCING AVAILABLE! APPROX. TERMS: $550,000 DOWN, 4.5% IR (YEAR 1), 5.5% IR (YEAR 2, 6.5 % IR (YEAR 3), INTEREST-ONLY PAYMENTS, 3-YEAR BALLON!
- 2025 CASH-ON-CASH RETURN: 10%!
- 2026 CAP RATE: 8.5%!
- 2026 CASH-ON-CASH RETURN: 13%!
- 2027 CAP RATE: 9%!
- 2027 CASH-ON-CASH RETURN: 14%!
- NEW COURTYARD AND LAUNDRY FACILITIES WERE ADDED IN 2O25!
- THE ROOF WAS REPLACED IN 2020!
- HVAC SYSTEMS WERE REPLACED IN 2019!
Getting around
-
Walk Score ®
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Bike Score ®
Location
- City Palmetto, FL
- Neighborhood Memphis
- Zip Code 34221
- Market Southwest Florida Coast
Points of Interest
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RaceTrac
0.17 miles
-
Mobil
0.53 miles
-
Citgo
0.73 miles
-
Wawa
2.60 miles
-
BP
2.87 miles
-
ONE9
3.04 miles
-
Kriya
3.08 miles
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Electrify America
3.37 miles
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Tesla Supercharger
3.38 miles
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Shell
3.58 miles
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Publix
0.94 miles
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Riverwalk Lot
2.27 miles
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City Centre Parking Garage
2.40 miles
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Lewis Park parking lot
2.88 miles
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Parking North
3.29 miles
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Parking East
3.43 miles
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Starbucks parking
6.57 miles
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Overflow Parking
6.61 miles
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Robinson Preserve South Parking Lot
7.06 miles
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Courtyard Bradenton Sarasota/Riverfront
2.16 miles
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SpringHill Suites Bradenton Downtown/Riverfront
2.34 miles
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Hampton Inn & Suites
2.43 miles
-
Red Roof Inn Ellenton
2.94 miles
-
Super 8
3.11 miles
-
Hampton Inn Ellenton/Bradenton
3.52 miles
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9th St West Motel
3.67 miles
-
Baxter's Motel
4.14 miles
-
Days Inn by Wyndham Bradenton - Near the Gulf
4.27 miles
-
Villa FloridaDream in Bradenton/Anna Maria Island zu vermieten
4.92 miles
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Walmart Supercenter
0.52 miles
-
ALDI
0.76 miles
-
Publix
0.90 miles
-
Detwiler's Farm Market
1.08 miles
-
Winn-Dixie
1.13 miles
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Ellenton Premium Outlets
3.39 miles
-
TJ Maxx
3.78 miles
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Macy's
4.55 miles
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DeSoto Square Mall
4.57 miles
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Bealls
4.65 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Grimaldi Commercial Realty Corp.