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    Updated Condo with Golf Views Title is generated by Realmo AI

    410 CERROMAR S CIRCLE 242, Venice, FL 34293

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    For Sale
    $275,000

    Move-in ready condo with golf course views and modern updates.

    Type:Condo/Townhome
    Property size:
    1,110 SF
    Price / SF:
    $247/SF
    Added:
    Sep 12, 2024
    Days on Market:
    632
    Last Refresh:
    May 19 at 9:55 pm

    Property Features for 410 CERROMAR S CIRCLE 242

    General Information

    Standard status
    Active
    Size
    1,110 SF
    Property subtype
    Condo/Townhome

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Shannon Thinnes
    Shannon Thinnes

    Listing agent Shannon Thinnes License #3365730

    Listing office EXP REALTY LLC

    Listing date Sep 12, 2024

    Source Exitrealty

    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 EXP REALTY LLC

    HighLights

    • Breathtaking golf course and lake views from a spacious screened lanai.
    • Fully furnished and move‑in ready with recent updates including a 2023 AC, 2022 water heater, and new 2024 washer.
    • Access to Plantation Golf & Country Club amenities: two 18‑hole golf courses, tennis, pickleball, pools, fitness center, and dining (club membership optional).
    • Newly renovated kitchen with wood cabinets and granite countertops, complemented by new wood plank flooring.
    • Worry‑free living with expertly managed exterior maintenance (roof replacement, painting, and parking area paving budgeted with no additional assessments).
    • Prime location: minutes to beaches, dining, shopping, Wellen Park Downtown, Atlanta Braves Stadium, and I‑75.

    Overview

    This updated condo features two bedrooms and two bathrooms, offering views of the Bobcat golf course's first hole in the Plantation Golf & Country Club. The property includes vaulted ceilings and an open floor plan. The renovated kitchen features wood cabinets and granite countertops. Wood plank flooring extends throughout the great room and bedrooms. The screened lanai overlooks the golf course and a lake. The condo is offered fully furnished in neutral tones. A new air conditioning system was installed in 2023, and a new water heater in 2022. The kitchen and appliances were updated in 2020, and a new washer was installed in 2024. The primary bedroom includes a walk-in closet, double sinks, and a shower, along with a west-facing balcony. The complex is having the roofs replaced and is slated for exterior painting and paving of the parking areas. The neighborhood has a clubhouse and community pool. The Plantation Golf & Country Club includes two 18-hole championship golf courses, 13 Har-Tru tennis courts, 6 pickleball courts, Bocce Ball, a fitness center, and a Jr. Olympic pool, along with dining and activity programs. Club membership is optional. The property is located near beaches, dining, shopping, Wellen Park Downtown, the Atlanta Braves Stadium, and I-75. Exterior maintenance is professionally managed. The property size is 1110 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Law Firm Dental Office Building Supply Skin Care Clinic Accounting Firm Department Store Bar & Pub HVAC Service Computer & Electronic Repair

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.3608902
    Latitude
    27.0594833

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    FAQs

    What type of property is this?
    Residential income property - Move-in ready condo with golf course views and modern updates.
    Where is this residential income property located?
    The property is located at 410 CERROMAR S CIRCLE 242 Venice, FL.
    What is the asking price?
    The asking price for this property is $275,000.
    What are key features of this property?
    This property features: Breathtaking golf course and lake views from a spacious screened lanai.; Fully furnished and move‑in ready with recent updates including a 2023 AC, 2022 water heater, and new 2024 washer.; Access to Plantation Golf & Country Club amenities: two 18‑hole golf courses, tennis, pickleball, pools, fitness center, and dining (club membership optional).
    (941) 232-6182
    We can help!
    Listing Contact
    Shannon Thinnes
    Shannon Thinnes
    Real Estate License ID: 3365730
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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