Downtown Venice Landmark Mixed-Use
For Sale
Contact for pricing
200 E Venice Ave, Venice, FL 34285
Landmark mixed-use property in downtown Venice, Florida for sale.
Property Size37,432 SF
Lot Size1.88 Acres
Price / SF$237.76
Days on Market1063
Property Features for 200 E Venice Ave
General Information
Standard status
Active
Size
37,432 SF
Class
B
Lot size
1.88 Acres
Property subtype
Office, Mixed Use
Zoning
VA - Venice Ave
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1985
Year Renovated
1990
Buildings
2
Listing Agency:
Hembree & Associates Inc
Listed By:
Joe Hembree · License #FL
(941) 951-1776
Source:
Crexi
Added: Oct 9, 2023
Changed: Aug 19
Last Checked: Sep 1 at 11:30PM
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 Hembree & Associates Inc
Investment Insights
Based on property information with market context.
This landmark mixed-use property is located in the heart of downtown Venice, Florida. The property, currently home to the Sun newspaper for Sarasota County, consists of two buildings: a 25,062 square foot office building and a 12,370 square foot light industrial building. The buildings sit on a 1.88 acre lot just off N Tamiami Trail and E Venice Avenue in the business district. Venice is situated between Fort Myers and Tampa Bay and is known for its Italian-inspired architecture and Gulf beaches. The city is also known as “The Shark Tooth Capital of the World” and features the Venetian Waterway Park. The city's historic downtown offers unique shops, restaurants, and attractions, along with a new branch of Sarasota Memorial Hospital, making it a desirable destination.
Key Highlights
- Large 1.88 acre lot in the heart of downtown Venice business district.
- Two buildings: 25,062 SF offices and 12,370 SF light industrial.
- Located just off N Tamiami Trail and E Venice Avenue.
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
$666,758
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
7.49%
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%
$13,335,160
$13.3M
Cap Rate 7%
$9,525,114
$9.5M
Cap Rate 9%
$7,408,422
$7.4M
Market Conditions
NOI Build-Up for 37,432 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
$1.12M $30.00/SF
− Vacancy
−$56.1K −$1.50/SF
EGI
$1.07M $28.50/SF
− OpEx
−$400.1K −$10.69/SF
NOI
$666.8K $17.81/SF
Area
Sarasota County, FL
Vacancy
5.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$13,335,160
Cap Rate 7%
$9,525,114
Cap Rate 9%
$7,408,422
Alternative Uses
Best Use
Mixed Use
$9.53M
$8.33M – $11.11M
NOI $666,758 @ 7.0% cap · market cap 7.49%
Second Best
Office B
$7.80M
$6.82M – $9.10M
NOI $545,759 @ 7.0% cap · market cap 6.13%
Theoretical Best
Office A
$10.64M
$9.31M – $12.41M
NOI $744,693 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,327
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?
Mixed-use property - Landmark mixed-use property in downtown Venice, Florida for sale.
Where is this mixed-use property located?
The property is located at 200 E Venice Ave Venice, FL.
What is the asking price?
The asking price for this property is $8,900,000.
What are key features of this property?
This property features: Large 1.88 acre lot in the heart of downtown Venice business district.; Two buildings: **25,062 SF offices and 12,370 SF light industrial**.; Located just off N Tamiami Trail and E Venice Avenue.
