The Bimini Apartments 2739 Grand Cayman St 16 Unit Apartment Building $3,822,035 CAD ($238,877 CAD/Unit) 6.77% Cap Rate Sarasota, FL 34231

Apex Investment Highlights

? Carribean Manor is a concrete block constructed complex in a
highly desired area of Sarasota. They don't make them like this
anymore.
16 Total Units in Two (2) Eight (8) Unit Buildings on separate
parcels.

? For further information, communications with the listing agent and
an executed CA will be required.
Prospective Purchasers are encouraged to drive-by the subject
properties prior to submitting offers.
However, all property tours must be arranged with the exclusive
Dreznin Pappas Commercial Real Estate agents. At no time shall
the tenants, on-site management or staff be contacted without prior
approval.

? Substantial & Impactful improvements, include;
New Shingle Roofs in 2024
Both buildings exteriors painted in modern style.
Newer Electrical main-disconnect breaker panel for each of the 16
units.
Parking lots sealed and striped (Asphalt) and parking blocks
painted.
Newer Landscaping & Trees.
PVC privacy fencing.

? Continued improvements and renovations;
New Gutters, new fencing around refuse containers.
Fresh painting of upper deck sidewalks, stairs and first level
sidewalks.
Onsite Laundry for tenants convenience.

? Additional notable renovations include;
Both buildings are now hooked up to county Sewer (owner pays for
service - not individually metered).
There is a single water well (behind South Building) which services
both properties and is tested & maintained monthly. (provided by
ownership)

? Additional notable renovations include;
Newer Vinyl Windows in most units or completely refurbished and
upgraded windows.
New shrubbery in front of stairway areas and trees trimmed

? All 16 units have been renovated and remodeled over the past 5
years and include such amenities and upgrades as;
Tile Flooring throughout all units.
New kitchens and kitchen cabinets.
New Split-system A/C-Heating units replacing the former through
the wall/window units.

? Some additional renovations and upgrades continued;
New appliances, new bathroom vanities, new toilets, new kitchen
lighting, new bathroom lighting, new hall lighting, new blinds, new
water heaters.
GFI protected outlets installed in kitchens and bathrooms, new
smoke alarms.

? Water service (well onsite), sewer service and trash pick-up are
included in the rent.
Tenant pays for electric (FPL).
Superior Construction with Solid Concrete Block on the 1st & 2nd
Floor.

? This offering presents a stabilized property with remaining upside.
Currently, Caribbean Manor is managed in-house.

? Ownership has been increasing the rents to market levels upon
turnovers, whereas a new owner can focus on the remaining valueadd
component, which will provide the opportunity to generate a
realistic increase to rental income. Additionally this complex can
support pet fees and other minimum impact ways to monetize the
bottom line positively.
Flexibility to repurpose the space under the exterior stairwells or on
the Western perimeter of the property into a private laundry area.

? These buildings offer the unique aspect of quaint one bedrooms
with a very private community feel.

? Located in the southern area of Sarasota, FL, Carribean Manor
offers convenient access to many local noteworthy locations,
including;
Riverview High School - 0.5 miles
Detweiler's Market/Grocery -1.2 miles
Publix at The Landings - 1.4 miles
Suncoast Technical College - 1.5 miles
Starbucks - 1.6 miles
Neighborhood Walmart - 1.9 miles
Trader Joe's - 2.0 miles
Gulf Gate Restaurants/Shops - 2.0 miles
Publix Shops at Siesta Row - 2.1 miles
Flemings Steakhouse - 2.2 miles
Phillippi Estate Park - 2.3 miles
New Siesta Promenade Dev - 2.5 miles
The Boatyard Bar & Grill - 2.8 miles
Siesta Key Beach Access - 3.1 miles
Sarasota Memorial Hospital - 3.4 miles
Downtown Sarasota - 4.3 miles
I-75 - 5.0 miles

? While situated in south Sarasota the property is centrally located in
Sarasota County, Caribbean Manor allows ease of access to jobs,
shopping, adventure, entertainment and peaceful retreats.

? Some of Sarasota County's major employers include;
Sarasota Memorial Health & Hospitals
PGT Innovations
Sun Hydraulics
Doctors Hospital
Publix
Sarasota County Schools
Local Government
Construction (Willis Smith)
Developers (Neal Communities)

? Positioned “East of the Trail” (US 41 / Tamiami Trail); One of the
high demand real estate areas in Sarasota.

? Caribbean Manor's proximity is convenient to a few resources and
entertainment, that lend itself to the neighborhood community.
Walking Distance from 7-11, convenient local restaurants, dentist,
CPA, spa, preschool, insurance, barber, etc.

? Ownership has helped to foster a community feel to the complex
that can continue into the future. The moniker of Village fits this
asset to a tee. Especially with rental housing being difficult to find
in Sarasota, the community will often have a referral tenant ahead
of schedule should a unit turnover.

? You are close to the beaches but NOT in a flood zone. (Fema
Flood Map 2025)
Major Industries by Employee Count
Largest Employers
Sarasota Memorial Hospital 8,834
School Board of Sarasota County 5,937
Publix Super Markets, Inc. 4,282
Sarasota County Government 3,630
PGT Innovations 1,992
Venice Regional Bayfront Health 1,305
City of Sarasota 785
Helios Technologies, Inc. 678