171 Center Road #E, Venice, FL 34285

Building Details

Tenancy Multi More

Listing Agency: Ian Black Real Estate LLC

Listed By: Jag Grewal · License #FL BK699811 Show Phone

Source: Crexi

Added: Oct 1 Changed: Nov 8 Last Checked: Nov 8 at 4:58PM

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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 Ian Black Real Estate LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 4,088-square-foot office condominium at 171 Center Road, Unit E, is configured as two suites. One suite contains 2,313 square feet and has a lease scheduled to expire at the end of 2026. The adjacent 1,775-square-foot suite is leased to a professional services group.

The property has new roofs. Its two-suite layout combines space with a future lease expiration and an existing tenancy.

Key Highlights

• 4,088‑square‑foot office condominium divided into two suites
• 2,313‑square‑foot suite has a lease expiring at the end of 2026
• Adjacent 1,775‑square‑foot suite is leased to a professional services group

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,603

Cap Rate

4.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,192,060 $1.2M

Cap Rate 7%

$851,471 $851.5K

Cap Rate 9%

$662,256 $662.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,088 SF

Gross rent

$88.3K $21.60/SF

− Vacancy

−$8.8K −$2.16/SF

EGI

$79.5K $19.44/SF

− OpEx

−$19.9K −$4.86/SF

NOI

$59.6K $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 Rate 5%

$1,192,060

Cap Rate 7%

$851,471

Cap Rate 9%

$662,256

Alternative Uses

Best Use

Office B

$851.5K

$745.0K – $993.4K (±1% cap)

NOI $59,603 @ 7.0% cap · market cap 4.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,329 @ 7.0% cap · market cap 6.73%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Lisa Bonin Physician Millennium Physician Group ... Medical Laboratory

Suggested Use

Top Pick Barber Shop Law Firm Grocery & Convenience Store (Bike/Boat/Book/etc) Store Electrical Service Gym & Fitness Center

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

Lease Details

2

Office units

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

878

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

Average Price Trend$/SF for Office Units in Venice, FL

$233 Jul

$226 Aug

$228 Sep

$211 Oct

Properties on Market for Office Units in Venice

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - One suite is leased through the end of 2026, while the second is occupied by a professional services group.

Where is this office unit located?

The property is located at 171 Center Road #E Venice, FL.

What is the asking price?

The asking price for this property is $1,209,000.

What are key features of this property?

This property features: 4,088‑square‑foot office condominium divided into two suites; 2,313‑square‑foot suite has a lease expiring at the end of 2026; Adjacent 1,775‑square‑foot suite is leased to a professional services group