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Property profile & analytics
OFF-MARKET
Estimated value
$25,835,000
Strip malls
12165 Mercado Dr, Venice, FL 34293-1147
Entity Owned
Free & Clear
Property ID
US18-7831587
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
53,257 SF
Lot
11.15 ac (485,868 SF)
Zoning code
V
APN
0783-08-0070
UPID
US18-7831587
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.61M
Blend (final)
Blend
$25.84M
Owner & transaction history
Publix Super Markets INC
Publix Super Markets INC
since 2026
Last sale
$28.4M
3 recorded transactions
Zoning & alternative use
V · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$38.6M
+60.7%
Auto repair, garage
$30.6M
+27.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$24,035,000
Current use
RESTAURANT
$38,615,000
Change: +61% · Conversion: Difficult
AUTO REPAIR, GARAGE
$30,600,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$23,140,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$25.84M
Range $23.25M – $28.42M · ±10% · vs last sale $28.35M (Apr 4 2022)
Last sale anchor
$28.35M
Apr 4 2022
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
$485 / 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
$288,908
Tax year 2023
Assessed value
$18,242,100
Assessed 2023
Previous assessed
$23,736,500
-23.1% YoY
Effective rate
1.58%
On assessed value
Assessed land
$4,302,200
Assessed improvement
$13,939,900
Land market value
$4,302,200
Improvement market value
$13,939,900
Total market value
$18,242,100
Applied tax rate
500.0000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
5
Stories
2
Total area
53,257 SF
Lot
11.15 ac (485,868 SF)
Zoning code
V
APN
0783-08-0070
UPID
US18-7831587
Jurisdiction
SARASOTA
Zoning & alternative use
V · Venice, FL
Zoning V · permitted uses
V · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$24.0M
RESTAURANT
Est. value
$38.6M
AUTO REPAIR, GARAGE
Est. value
$30.6M
INDUSTRIAL (GENERAL)
Est. value
$23.1M
NEIGHBORHOOD: SHOPPING CENTER Current
RESTAURANT
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
2019
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Buildings
5
Lot
11.15 ac
Current owner
From public records · entity-resolved
Publix Super Markets INC
Entity
Free & Clear · 0 yrs held
Mailing address
254 KATONAH AVE, KATONAH, NY 10536-2171
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2026
—
Publix Super Markets INC
Twenty Three Realty LLC
Deed
—
Apr 4, 2022
$28,350,000
Twenty Tnree Realty LLC
West Parkway Realty LLC
Special Warranty Deed
—
Apr 30, 2021
$28,450,000
West Parkway Realty LLC
Us 41 Retail LLC
Special Warranty Deed
$19,350,000 · Investors Bank
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.
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