Regatta Royale Apartments
Multi-Family | 29 Units | 21,484 Sq Ft
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to acquire Regatta Royale Apartments, a 29-unit apartment community located in the heart of Downtown Palmetto (the “Property”). Constructed in 1972, Regatta Royale Apartments is one of the most established and well-located apartment communities in Palmetto, offering a scale, location, and amenity package that is increasingly difficult to replicate within the city’s limited multifamily inventory. Tucked ideally in the core of the city's Downtown Historical District, the community's residents enjoy an unbeatable array of off-site amenities - including waterfront restaurants and boutiques, two thriving public parks, a public library, a historic museum, and conveniently located shops, banks, pharmacies and more, all just a very short walk from the Property - providing tenants with unparalleled ease and convenience.
Situated on a 0.92-acre parcel, the Property consists of one (1) single-story community building and two (2) two-story residential buildings containing twenty-nine (29) residential units comprising twenty-eight (28) 2-Bedroom/1-Bathroom units and one (1) Studio unit with 21,484 rentable square feet. The professionally managed community features direct-entry units, a swimming pool, sundeck, on-site laundry facility, and plentiful resident parking.
Regatta Royale Apartments is ideally positioned within Downtown Palmetto, just blocks from the city’s commercial corridor and waterfront districts. The Property benefits from convenient access to US Highway 41, US Highway 301, Interstate 75, and the broader Tampa Bay employment corridor, while maintaining the small-town character and affordability that continue to drive residential demand in Palmetto.
Regatta Royale Apartments offers investors direct exposure to the continued growth and revitalization of Palmetto itself — a market experiencing significant residential and commercial expansion, infrastructure investment, and increasing renter demand. With no truly comparable multifamily product existing in Downtown Palmetto, Regatta Royale occupies a unique position within the local rental market.
Investment highlights
ONE OF THE PREMIER APARTMENT COMMUNITIES IN PALMETTO
Regatta Royale Apartments represents one of the few professionally managed multifamily communities located within Downtown Palmetto. The Property offers a combination of an attractive unit mix, notable location, abundant parking, and community amenities that are rarely available within the immediate submarket. Due to extremely limited new multifamily supply, especially in the Downtown core, there are definitively no directly comparable apartment communities in Palmetto – offering investors an established, proven community with no genuine competition.
VALUE-ADD POTENTIAL
In-place rents at the Property remain below market rates, providing investors with the opportunity to increase revenue through strategic interior renovations and operational improvements. Continued population growth and limited comparable apartment inventory in Palmetto support long-term rental demand and future rent growth potential. As the largest and most well-appointed market-rate apartment community in Downtown Palmetto, the value-add potential and growth opportunity is unmatched.
PROPERTY & UNIT AMENITIES
The professionally managed community features:
- Direct-entry apartment units
- Swimming pool
- Sundeck & Seating area
- On-site laundry facility
- Considerable on-site resident parking
- Adjacent, public dual-purpose overflow lot
The well-maintained units offer:
- Spacious floor plans
- Tile and/or vinyl plank flooring
- Large closets
- Fully equipped kitchens
- Central HVAC systems
DESIRABLE DOWNTOWN PALMETTO LOCATION
The Property is located on the western edge of Downtown Palmetto, surrounded by established residential neighborhoods, ongoing redevelopment activity, and a multitude of shops, restaurants, parks, libraries, and cafes – all within short walking distance. Evidenced by the Property’s near perfect ‘Walk Score’ for Cultural & Entertainment destinations, its location within the Downtown Historical District is truly unparalleled. Moreover, the location also provides direct connectivity to:
- US Highway 41
- US Highway 301
- Interstate 75
- Downtown Bradenton
- Port Manatee
- Major regional employment centers throughout Manatee County and Tampa Bay
STRONG REGIONAL CONNECTIVITY The Property offers exceptional regional accessibility:
- 0.2 miles from US Route 41 Business
- 1.3 miles from US Highway 301
- 4.7 miles from Interstate 75
- Nearby access to Port Manatee
- Short drive to Sarasota-Bradenton International Airport (SRQ)
This connectivity supports commuter demand from residents employed throughout Manatee County, St. Petersburg, Tampa, Bradenton, and Sarasota.
ACCESS TO STRONG SURROUNDING NEIGHBORHOODS Regatta Royale Apartments is positioned near several of the area’s most desirable and rapidly expanding residential communities, including:
- Riviera Dunes
- Parrish
- Ellenton
- North River Ranch
- Terra Ceia
- Snead Island
These communities continue to attract full-time residents, retirees, and working professionals seeking housing options within proximity to the greater Tampa Bay and Sarasota employment markets.
POSITIONED IN A GROWING PALMETTO SUBMARKET
Palmetto continues to experience substantial residential and commercial growth driven by regional population migration and expanding employment throughout Manatee County and the Tampa Bay region. New housing developments, infrastructure improvements, and mixed-use projects throughout Palmetto and North Manatee County continue to elevate the city’s profile as an emerging Gulf Coast residential destination.
ACCESS TO MAJOR NEW DEVELOPMENT & RETAIL DESTINATIONS
The Property benefits from proximity to several of the area’s expanding residential and retail corridors, including:
- The rapidly growing Parrish and North River Ranch development corridor
- Waterfront redevelopment and marina investment along the Manatee River
- Expanding residential communities throughout North Manatee County
- The Ellenton Premium Outlets, one of the region’s premier retail destinations featuring national retailers, restaurants, and entertainment
- Nearby logistics and employment hubs with convenient access to Interstate 75 and the Port Manatee area
INVESTMENT HIGHLIGHTS
- 29-Unit Multifamily Community in Palmetto, Florida (Manatee County)
- Effective Mix of (1) Studio and (28) Two-Bedroom Units
- Concrete Block Construction with Hip, Metal Roofs and Central HVAC Systems Throughout
- Located Directly in Palmetto’s Historic Downtown Core, Seeing Sustained Revitalization Projects and Strong Economic Growth
- Within Walking Distance to the Regatta Pointe Marina & Shops, Positioned Along the Manatee River (approx. 0.3 +/- Miles Away)
- Set just a Half-Block from Both Sutton & Lamb Parks - Area Landmarks Offering Historic Tours, Picnic Areas, Community Events, Educational Seminars, Numerous Annual Festivals, Basketball, and Tennis Courts
- Palmetto’s Community Redevelopment Agency (CRA) is Currently Leading Multiple Redevelopment/Transformation Projects in the Downtown Area, Expecting to Bolster the City’s Economy by $30 Million+ Annually
- No Flood Insurance Required - Located Outside of the Flood Zone
- Represents the Largest, Market-Rate Apartment Community in Downtown Palmetto
- Attractive Amenity Package Includes a Pool, Sundeck, On-Site Laundry Facility, On-Site Parking, and Adjacent Overflow Parking Lot
- The Asset Consistently Maintains High Occupancy – Currently Sitting at Approx. 97% – Driven by Excellent Location and Visibility • Within an Approximate 5-Minute Drive (1.7 Miles) of Bradenton’s Vibrant Downtown, Featuring a Multitude of Bars, Restaurants, Shops, and Offices
- Neighboring, Walkable Off-Site Amenities Include the Palmetto Branch Library, Palmetto Historical Park & Carnegie Library, Multiple Cafes, Restaurants, Boutiques, and Shops
- Added Local Conveniences Include Publix, USPS, King’s Kids After School Care, and Multiple Banks, Pharmacies, and Places of Worship – All Within One Mile of the Property
- Provides Convenient Access to the Region’s Major Thoroughfares, Including US Route 41 - Business (0.2 +/- Miles Away), US Highway 301 (1.3 +/- Miles Away), and Interstate 75 (4.7 +/- Miles Away)
- Located Within Manatee County - One of Florida’s Fastest Growing Counties, Having Seen an Approximate 40% Surge in Residents Since 2010 and an Approximate 17% Gain Between 2020-2025, Representing Nearly 68,000 New Residents
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