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Property profile & analytics
OFF-MARKET
Estimated value
$5,495,000
Retail space
1405 Venice Ave Venice, FL 34292-3064
Entity Owned
4-yr Hold
Free & Clear
Property ID
US18-4910120
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,923 SF
Lot
1.65 ac (71,764 SF)
Zoning code
CG
APN
0412-05-0005
UPID
US18-4910120
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
-
Walgreens Photo (Bike/Boat/Book/etc) Store
-
Jami T. Snow, PharmD Pharmacy
-
Angela M. Ristuccia, PharmD Pharmacy
-
Melda Chambers, RPH Pharmacy
-
COVID-19 Drive-Thru Testing at Walgreens Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.08M
CAP Approach
CAP
$3.59M
Comparable Approach
Comparable
$6.47M
Blend (final)
Blend
$5.50M
Owner & transaction history
Project Saturn Nlp LLC · 4 yrs held
Project Saturn Nlp LLC
since 2021
Last sale
$5.0M
1 recorded transaction
Zoning & alternative use
CG · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.6M
+95.5%
Neighborhood: shopping center
$6.7M
+53.5%
Industrial (general)
$6.5M
+47.8%
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
$7,300,000
ML approach
$7,080,000
CAP Approach
CAP Return
Estimation
6%
$3,885,000
6.5%
$3,585,000
7%
$3,330,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,385,000
Current use
AUTO REPAIR, GARAGE
$8,575,000
Change: +95% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$6,735,000
Change: +54% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$6,485,000
Change: +48% · Conversion: Difficult
MEDICAL BUILDING
$5,000,000
Change: +14% · Conversion: Difficult
OFFICE BUILDING
$3,975,000
Change: -9% · Conversion: Easy
Blend value · Realmo final
$5.50M
Range $4.95M – $6.04M · ±10% · vs last sale $5.01M (Sep 15 2021)
Last sale anchor
$5.01M
Sep 15 2021
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
$368 / 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
$71,882
Tax year 2023
Assessed value
$4,724,700
Assessed 2023
Previous assessed
$4,578,600
+3.2% YoY
Effective rate
1.52%
On assessed value
Assessed land
$2,239,000
Assessed improvement
$2,485,700
Land market value
$2,239,000
Improvement market value
$2,485,700
Total market value
$4,724,700
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
14,923 SF
Lot
1.65 ac (71,764 SF)
Zoning code
CG
APN
0412-05-0005
UPID
US18-4910120
Jurisdiction
SARASOTA
Zoning & alternative use
CG · Venice, FL
Zoning CG · permitted uses
CG · 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
RETAIL STORES Current
Est. value
$4.4M
AUTO REPAIR, GARAGE
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.7M
INDUSTRIAL (GENERAL)
Est. value
$6.5M
MEDICAL BUILDING
Est. value
$5.0M
OFFICE BUILDING
Est. value
$4.0M
RETAIL STORES Current
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
OFFICE 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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
1.65 ac
Current owner
From public records · entity-resolved
Project Saturn Nlp LLC
Entity
Free & Clear · 4 yrs held
Mailing address
125 S WACKER DR STE #1220, CHICAGO, IL 60606-4430
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 15, 2021
$5,011,700
Project Saturn Nlp LLC
Walgreen Co
Special Warranty Deed
—
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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