Medical Office Building with NNN
For Sale
Contact for pricing
436 Nokomis Avenue South, Venice, FL 34285
Established medical office with on-site parking and a proposed seven-year triple-net lease structure.
Property Size3,418 SF
Price / SF$365.71
Days on Market57
Property Features for 436 Nokomis Avenue South
General Information
Standard status
Active
Size
3,418 SF
Class
B
Property subtype
Office
Zoning
ST-2
Occupancy
100%
Lease Type
NNN
Investment Type
Sale/Leaseback
Net Operating Income
$88,868
Financials
Asking Price
$1,250,000
Cap Rate
7.1%
Building Details
Year Built
1979
Year Renovated
1985
Buildings
1
Tenancy
Single
Building Size
3,418 SF
Owner Occupied
Yes
Listing Agency:
Wisdom Capital Group
Listed By:
Brady Wisdom · License #SL3588056
Source:
Crexi
Added: Jul 6
Changed: Aug 29
Last Checked: Aug 29 at 5:00PM
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 Wisdom Capital Group
Investment Insights
Based on property information with market context.
Built in 1979, this 3,418-square-foot medical office property is designed for continued clinical use and includes ample on-site parking. The building is located at 436 Nokomis Avenue South in Venice and is zoned ST-2.
The sale-leaseback structure calls for a new seven-year NNN lease at closing, with 2.5% annual rent increases and two five-year renewal options. The existing physician has served the Venice community for more than 30 years, supporting continuity of occupancy and operations. The property offers a defined medical-office configuration with a lease structure that places operating responsibilities with the tenant.
The sale-leaseback structure calls for a new seven-year NNN lease at closing, with 2.5% annual rent increases and two five-year renewal options. The existing physician has served the Venice community for more than 30 years, supporting continuity of occupancy and operations. The property offers a defined medical-office configuration with a lease structure that places operating responsibilities with the tenant.
Key Highlights
- 3,418‑square‑foot medical office building
- Proposed seven‑year NNN sale‑leaseback lease
- 2.5% annual rent escalations
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
$62,751
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
5.02%
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%
$1,255,020
$1.3M
Cap Rate 7%
$896,443
$896.4K
Cap Rate 9%
$697,233
$697.2K
Market Conditions
NOI Build-Up for 3,418 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
$109.5K $32.04/SF
− Vacancy
−$4.9K −$1.44/SF
EGI
$104.6K $30.60/SF
− OpEx
−$41.8K −$12.24/SF
NOI
$62.8K $18.36/SF
Area
Sarasota County, FL
Vacancy
4.50%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
40.00%
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%
$1,255,020
Cap Rate 7%
$896,443
Cap Rate 9%
$697,233
Alternative Uses
Best Use
Healthcare Medical
$896.4K
$784.4K – $1.05M
NOI $62,751 @ 7.0% cap · market cap 5.02%
Second Best
Office B
$711.9K
$622.9K – $830.6K
NOI $49,834 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$971.4K
$850.0K – $1.13M
NOI $68,000 @ 7.0% cap · market cap 5.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,287
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Established medical office with on-site parking and a proposed seven-year triple-net lease structure.
Where is this medical office space located?
The property is located at 436 Nokomis Avenue South Venice, FL.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,418‑square‑foot medical office building; Proposed seven‑year NNN sale‑leaseback lease; 2.5% annual rent escalations
