Mixed-Use Retail with
For Sale
$1,200,000
528 East Venice Avenue, Venice, FL 34285
Mixed-use property with ground-floor retail and two residential units above, offering storefront exposure with dedicated parking.
Property Size4,740 SF
Days on Market53
Property Features for 528 East Venice Avenue
General Information
Standard status
Active
Size
4,740 SF
Property subtype
Street Retail
Additional Details
Multifamily Units
2
Building Details
Building Size
4,740 SF
Year Built
1980
Listing Agency:
SVN | Commercial Advisory Group
(941) 387-1200
Listed By:
Mike Migone · License #FL-3433831
(941) 387-1200
Source:
Thebrokerlist
Added: Jul 3
Changed: Aug 23
Last Checked: Aug 24 at 3:16AM
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 SVN | Commercial Advisory Group
Investment Insights
Based on property information with market context.
This mixed-use property features a ground-floor retail space with large storefront windows, along with two income-producing apartments on the second floor. The residential layout includes a 2BR/1BA unit and a 1BR/1BA unit, supporting flexible owner-occupant or rental use.
The property is located less than a mile from Historic Downtown Venice and about 1.5 miles to Venice Beach, with visibility along a primary commercial corridor. Dedicated parking is included, and the property has received recent interior updates, a newer roof, and efficient mechanical systems.
Overall, the building provides multiple revenue streams through retail and residential components, with updates and a newer roof positioned to help reduce near-term capital expense.
The property is located less than a mile from Historic Downtown Venice and about 1.5 miles to Venice Beach, with visibility along a primary commercial corridor. Dedicated parking is included, and the property has received recent interior updates, a newer roof, and efficient mechanical systems.
Overall, the building provides multiple revenue streams through retail and residential components, with updates and a newer roof positioned to help reduce near-term capital expense.
Key Highlights
- 1965 mixed‑use building with ground‑floor retail and two income‑producing apartments upstairs
- Second floor layout includes a 2BR/1BA unit and a 1BR/1BA unit
- Located less than 1 mile from Historic Downtown Venice and 1.5 miles to Venice Beach
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
$74,058
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
6.17%
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%
$1,481,160
$1.5M
Cap Rate 7%
$1,057,971
$1.1M
Cap Rate 9%
$822,867
$822.9K
Market Conditions
NOI Build-Up for 4,740 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
$113.8K $24.00/SF
− Vacancy
−$8.0K −$1.68/SF
EGI
$105.8K $22.32/SF
− OpEx
−$31.7K −$6.70/SF
NOI
$74.1K $15.62/SF
Area
Sarasota County, FL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,481,160
Cap Rate 7%
$1,057,971
Cap Rate 9%
$822,867
Alternative Uses
Best Use
Retail
$1.06M
$925.7K – $1.23M
NOI $74,058 @ 7.0% cap · market cap 6.17%
Second Best
Multifamily LT 5
$692.0K
$605.5K – $807.4K
NOI $48,441 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,300 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,632
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use property with ground-floor retail and two residential units above, offering storefront exposure with dedicated parking.
Where is this storefront property located?
The property is located at 528 East Venice Avenue Venice, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1965 mixed‑use building with ground‑floor retail and two income‑producing apartments upstairs; Second floor layout includes a 2BR/1BA unit and a 1BR/1BA unit; Located less than 1 mile from Historic Downtown Venice and 1.5 miles to Venice Beach
