183 Center Road #F, Venice, FL 34285

Building Details

Buildings 1 More

Building Size 6,224 SF More

Tenancy Multi More

Owner Occupied Yes 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 4:08PM

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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 office condominium at 183 Center Road, #F, in Venice is arranged as three office suites totaling 6,224 square feet. The largest suite contains 2,500 square feet and is scheduled for lease expiration in the near term. The other suites measure 2,200 and 1,500 square feet; one is leased to a medical-wellness business and the other to a professional tenant.

Key Highlights

• 6,224‑square‑foot office condominium with three suites
• Largest suite measures 2,500 square feet and is scheduled for near‑term lease expiration
• 2,200‑square‑foot suite leased to a medical‑wellness business

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$90,746

Cap Rate

4.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,814,920 $1.8M

Cap Rate 7%

$1,296,371 $1.3M

Cap Rate 9%

$1,008,289 $1.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,224 SF

Gross rent

$134.4K $21.60/SF

− Vacancy

−$13.4K −$2.16/SF

EGI

$121.0K $19.44/SF

− OpEx

−$30.2K −$4.86/SF

NOI

$90.7K $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%

$1,814,920

Cap Rate 7%

$1,296,371

Cap Rate 9%

$1,008,289

Alternative Uses

Best Use

Office B

$1.30M

$1.13M – $1.51M (±1% cap)

NOI $90,746 @ 7.0% cap · market cap 4.93%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.77M

$1.55M – $2.06M (±1% cap)

NOI $123,824 @ 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

Audiology & Hearing Center ... Hearing Aid Store FedEx Drop Box Postal Service Richard Namikas Physician

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

3

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 buildings in Sarasota County, FL

$602 Jul

$493 Aug

$505 Sep

$438 Oct

Properties on Market for Office buildings in Sarasota County

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 building - Two suites are occupied by medical-wellness and professional tenants, while the largest suite is nearing lease expiration.

Where is this office building located?

The property is located at 183 Center Road #F Venice, FL.

What is the asking price?

The asking price for this property is $1,840,000.

What are key features of this property?

This property features: 6,224‑square‑foot office condominium with three suites; Largest suite measures 2,500 square feet and is scheduled for near‑term lease expiration; 2,200‑square‑foot suite leased to a medical‑wellness business