Building Details

Year Built 2004

Listing Agency: CHARITY & WEISS INTERNATIONAL LLC r***@charityweiss.com Show Phone

Listed By: RUDI WEISS

Source: Corcoran

Added: Mar 16 Changed: Aug 8 Last Checked: Aug 8 at 5:50AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CHARITY & WEISS INTERNATIONAL LLC

Investment Insights

Based on property information with market context.

This property offers 1,600 square feet of flex commercial space. The layout includes an office in the front, a bathroom, and an extra tall roll-up overhead door at the rear of the building. This unit is suitable for warehouse use.

Key Highlights

• 1,600sf of flex commercial space
• Office in the front
• Bathroom included

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$22,404

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.49%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$448,080 $448.1K

Cap Rate 7%

$320,057 $320.1K

Cap Rate 9%

$248,933 $248.9K

Market Conditions

NOI Build-Up for 1,600 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$27.5K $17.16/SF

− Vacancy

−$1.1K −$0.69/SF

EGI

$26.4K $16.47/SF

− OpEx

−$4.0K −$2.47/SF

NOI

$22.4K $14.00/SF

Area

Sarasota County, FL

Vacancy

4.00%

Lease Rate

$17.16 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$448,080

Cap Rate 7%

$320,057

Cap Rate 9%

$248,933

Alternative Uses

Best Use

Warehouse

$320.1K

$280.1K – $373.4K (±1% cap)

NOI $22,404 @ 7.0% cap · market cap 6.49%

Second Best

Industrial

$263.6K

$230.6K – $307.5K (±1% cap)

NOI $18,450 @ 7.0% cap · market cap 5.35%

Theoretical Best

Office A

$454.7K

$397.9K – $530.5K (±1% cap)

NOI $31,831 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Royal Air Conditioning ... HVAC Service Drm Electrical Services Electrical Service Reduction LLC Industrial Manufacturer Draygon Enterprises Inc. Industrial Manufacturer Coastal Property Group-Fl Construction Company

Suggested Use

Top Pick Real Estate Agency Dental Office Auto Repair Shop Auto Parts Store Hair Salon Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

256

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 34275, FL

20,570

Population

13,139

Households

1.6

Avg Household Size

63

Median Age

43%

College-Educated

97%

High-School Grad

25.7 sq mi

ZIP Area

800

Density / Sq Mi

$84,503

Median Household Income

$48,094

Median Earnings

$1,459

Median Rent

$435,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - 1,600 SF flex commercial space with office and roll-up door.

Where is this flex space located?

The property is located at 120 TRIPLE DIAMOND BOULEVARD #E North Venice, FL.

What is the asking price?

The asking price for this property is $345,000.

What are key features of this property?

This property features: 1,600sf of flex commercial space; Office in the front; Bathroom included