First-Floor Office Condominium
For Sale
$194,900
1515 Tamiami Trail S 2a, Venice, FL 34285
Well-maintained first-floor office condo with private access and ample parking, currently occupied by a long-term tenant.
Property Size1,168 SF
Price / SF$166.87
Days on Market46
Property Features for 1515 Tamiami Trail S 2a
General Information
Standard status
Active
Size
1,168 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
1986
Construction
masonry
Listing Agency:
MAPP REALTY & INVESTMENT CO
Listed By:
Anthony Chabot · License #REB.0795000
(508) 847-0902
Source:
Exciterealtyflorida
Added: Jul 21
Changed: Sep 3
Last Checked: Sep 2 at 9:13PM
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 MAPP REALTY & INVESTMENT CO
Investment Insights
Based on property information with market context.
This well-maintained first-floor office condominium suite is approximately 1,170 square feet and features private access. The unit is within a solid masonry office building built in 1986. Suite 2 is currently occupied by a long-time tenant.
The property offers visibility and high traffic exposure along US 41/Tamiami Trail. It is situated in Flood Zone X (minimal flood risk) and includes convenient access to Venice Island, I-75, along with nearby restaurants, retail, and professional services.
The suite is described as suitable for medical, wellness, therapeutic, or general professional office use, supported by the property’s professional office configuration and turnkey condition.
The property offers visibility and high traffic exposure along US 41/Tamiami Trail. It is situated in Flood Zone X (minimal flood risk) and includes convenient access to Venice Island, I-75, along with nearby restaurants, retail, and professional services.
The suite is described as suitable for medical, wellness, therapeutic, or general professional office use, supported by the property’s professional office configuration and turnkey condition.
Key Highlights
- Well‑maintained first‑floor professional office condo built in 1986
- Approximately 1,170 SF with private access and currently occupied by a long‑term tenant
- Located at 1515 S Tamiami Trail, Suite 2 (Venice, FL 34285), Parcel ID 0433‑03‑1002
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
$17,029
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
8.74%
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%
$340,580
$340.6K
Cap Rate 7%
$243,271
$243.3K
Cap Rate 9%
$189,211
$189.2K
Market Conditions
NOI Build-Up for 1,168 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
$25.2K $21.60/SF
− Vacancy
−$2.5K −$2.16/SF
EGI
$22.7K $19.44/SF
− OpEx
−$5.7K −$4.86/SF
NOI
$17.0K $14.58/SF
Area
Sarasota County, FL
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$340,580
Cap Rate 7%
$243,271
Cap Rate 9%
$189,211
Alternative Uses
Best Use
Healthcare Medical
$306.3K
$268.0K – $357.4K
NOI $21,443 @ 7.0% cap · market cap 11.00%
Second Best
Office B
$243.3K
$212.9K – $283.8K
NOI $17,029 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$332.0K
$290.5K – $387.3K
NOI $23,237 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,010
Businesses Nearby
Explore this area
Business Placement
Demographics for 34285, FL
18,971
Population
16,081
Households
1.2
Avg Household Size
70
Median Age
40%
College-Educated
95%
High-School Grad
8.3 sq mi
ZIP Area
2,286
Density / Sq Mi
$67,712
Median Household Income
$37,959
Median Earnings
$1,485
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained first-floor office condo with private access and ample parking, currently occupied by a long-term tenant.
Where is this office units located?
The property is located at 1515 Tamiami Trail S 2a Venice, FL.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: Well‑maintained first‑floor professional office condo built in 1986; Approximately 1,170 SF with private access and currently occupied by a long‑term tenant; Located at 1515 S Tamiami Trail, Suite 2 (Venice, FL 34285), Parcel ID 0433‑03‑1002
