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Property profile & analytics
OFF-MARKET
Estimated value
$13,740,000
Assisted living facilities
1026 Albee Farm Rd Venice, FL 34285-6213
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US18-0859471
Property profile
Verified
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
41,201 SF
Lot
9.4 ac (409,464 SF)
Zoning code
OPI
APN
0409-05-0001
UPID
US18-0859471
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Aspire at Venice Nursing Home Retirement Community
-
Heritage Health Care Center Nursing Home
-
Kristen M. Kapper, Cota Physician
-
Shane Garver Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$14.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$13.74M
Owner & transaction history
1026 Albee Farm Rd Fl Owner LLC · 2 yrs held
1026 Albee Farm Rd Fl Owner LLC
since 2023
Last sale
$13.3M
7 recorded transactions
Zoning & alternative use
OPI · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$15.8M
+421.5%
Restaurant
$9.9M
+225.9%
Medical building
$9.2M
+202.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Venice submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Venice submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$14,675,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$15,800,000
Change: +421% · Conversion: Difficult
RESTAURANT
$9,875,000
Change: +226% · Conversion: Difficult
MEDICAL BUILDING
$9,180,000
Change: +203% · Conversion: Difficult
Blend value · Realmo final
$13.74M
Range $12.37M – $15.11M · ±10% · vs last sale $13.28M (Nov 6 2023)
Last sale anchor
$13.28M
Nov 6 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$333 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$68,227
Tax year 2023
Assessed value
$4,484,500
Assessed 2023
Previous assessed
$4,508,100
-0.5% YoY
Effective rate
1.52%
On assessed value
Assessed land
$1,426,100
Assessed improvement
$3,058,400
Land market value
$1,426,100
Improvement market value
$3,058,400
Total market value
$4,484,500
Applied tax rate
300.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Assisted living facilities
Use group
HOMES (RETIRED, NURSING)
Status
Off-Market
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
98
Bathrooms
128
Total area
41,201 SF
Lot
9.4 ac (409,464 SF)
Zoning code
OPI
APN
0409-05-0001
UPID
US18-0859471
Jurisdiction
SARASOTA
Zoning & alternative use
OPI · Venice, FL
Zoning OPI · permitted uses
OPI · Venice, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Venice. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$15.8M
RESTAURANT
Est. value
$9.9M
MEDICAL BUILDING
Est. value
$9.2M
INDUSTRIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1983
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
98
Bathrooms
128
Lot
9.4 ac
Current owner
From public records · entity-resolved
1026 Albee Farm Rd Fl Owner LLC
Entity
Mailing address
885 3RD AVE FL, NEW YORK, NY 10022-4834
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2023
$13,276,100
1026 Albee Farm Rd Fl Owner LLC
Fc Encore Venice LLC
Special Warranty Deed
—
Sep 20, 2016
$7,954,500
Fc Encore Venice LLC
Fc Encore Core Properties LLC
Grant Deed
—
Sep 20, 2016
—
Fc Encore Venice LLC
—
Deed
related
$8,016,100 · Keybank USA
Oct 13, 2006
—
Formation Portfolio I LLC
Formation Properties I LLC
Quit Claim Deed
—
Jan 16, 2002
—
Formation Properties I LLC
Beverly Health & Rehabilitatio
Quit Claim Deed
related
—
Jan 16, 2002
$2,362,600
Formation Properties I LLC
Beverly Health & Rehabilitatio
Trustees Deed
$100,000,000 · Salomon Brothers Realty Ttee
—
—
Fc Encore Core Properties LLC
—
Deed Of Trust
related
$479,000,000 · Keybank USA
—
—
Fc Encore Venice LLC
—
Loan Modification
related
$8,016,100 · Keybank USA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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