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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1550 Venice Ave Venice, FL 34292-1661

    • Office buildings
    • 9,590 SF
    • 1.27 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2024
    $4,600,000
    Value Estimations
    $4,375,000
    Show details
    Cap Rate Potential
    3.2%
    Office buildings
    Location Intelligence
    Property ID
    US18-1963559
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Nicholas Evertsen, DO: Plastic Surgery / Plastic Surgeon
    • Luminary Dermatology / Medical Clinic
    • Dr. Nora Kachaturoff / Practitioner Service Location / Dermatologist
    • Dr. Daniel Kiernan / Ophthalmologist

    Property Details for 1550 Venice Ave

    Year built
    2020
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.27 lot acres
    Property size
    9,590 SF
    Zone code
    PUD
    Property type
    Office buildings
    APN
    0411-15-0089
    APU
    411150089

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,600,000
      ML approach
      $4,600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,705,000
      Market price range: $1.81M - $3.71M
      AI Estimate
      $2,815,000
      Market price range: $1.04M - $2.82M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $6,955,000
      AUTO REPAIR, GARAGE
      $5,510,000
      NEIGHBORHOOD: SHOPPING CENTER
      $4,330,000
      INDUSTRIAL (GENERAL)
      $4,165,000
      MEDICAL BUILDING
      $3,215,000
      RETAIL STORES
      $2,820,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4085
    Latitude
    27.1002
    CBSA code
    35840
    CBSA name
    NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $51,163
    $981,200
    $2,381,700
    $3,362,900
    -
    $981,200
    $2,381,700
    $3,362,900

    Comparable in this City

    • Value Estimation
      $440,000
      1,835 SF

      1499 Venice Ave, Unit A

      PROFESSIONAL BUILDING • 1,835 SF
      1499 Venice Ave, Venice, FL 34292-3207
      View Details
    • Value Estimation
      $1,385,000
      6,964 SF

      415 Commercial Ct Ste A

      OFFICE BUILDING • 6,964 SF
      415 Commercial Ct Ste A, Venice, FL 34292-1654
      View Details
    • Value Estimation
      $550,000
      4,980 SF

      1415 Venice Ave

      PROFESSIONAL BUILDING • 4,980 SF
      1415 Venice Ave, Venice, FL 34292-3064
      View Details
    • Value Estimation
      $875,000
      11,600 SF

      421 Commercial Ct

      OFFICE BUILDING • 11,600 SF
      421 Commercial Ct, Venice, FL 34292-1656
      View Details
    • Value Estimation
      $495,000
      9,918 SF

      401 Commercial Ct

      OFFICE BUILDING • 9,918 SF
      401 Commercial Ct, Venice, FL 34292-1652
      View Details
    • Value Estimation
      $470,000
      9,647 SF

      405 Commercial Ct

      OFFICE BUILDING • 9,647 SF
      405 Commercial Ct, Venice, FL 34292-1653
      View Details

    Similar Nearby for Sale

    • $5,625,000

      Venice Class A Office Building

      17,158 SF Class A office building in Venice, Florida.
      1790 E Venice Ave, Venice, FL 34292
      View Details
    • $495,000
      1,320 SF

      Venice Medical Condo For Sale

      Prime Medical Office Condo, Vacant, $495,000
      836 Sunset Lake Blvd, Venice, FL 34292
      View Details
    • $550,000
      2,688 SF

      Venice Flex Space For Sale

      Flex space with office and overhead door, easy I-75 access.
      740 Commerce Dr, Venice, FL 34292
      View Details
    • $1,750,000
      5,308 SF

      Move-in Ready Medical/Professional Office Space

      5308 SF office space near Sarasota Memorial Hospital.
      842 Sunset Lake Blvd, Venice, FL 34292
      View Details
    • $1,600,000
      Pending

      Venice Land with Redevelopment Potential

      7.3 acre property near I-75, ideal for multifamily redevelopment.
      2327 Ewing Dr, Venice, FL 34292
      View Details
    • $3,800,000
      2,241,462 SF

      Prime Venice Waterfront Land

      51 Acres, Mixed-Use Development Potential
      Moon Dr, Venice, FL 34292
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      2,500 SF

      Venice Medical Office Sublease

      Prime Venice location, medical office space available.
      435 Commercial Ct, Venice, FL 34292
      View Details
    • $28 SF/Yr
      8,124 SF

      Prime Venice Office Space Available

      Two suites, 2,652 - 5,472 sq ft, I-75 access
      421 Commercial Ct, Venice, FL 34292
      View Details
    • $27 SF/Yr
      18,078 SF

      Prime Venice Medical Office Building

      Class A, 18,078 SF, I-75 Corridor
      435 Commercial Ct, Venice, FL 34292
      View Details
    • $21 SF/Yr
      1,550 SF

      Office Condo Unit For Rent

      Office condo with reception, conference room, and multiple work areas.
      375 Commercial Ct, Venice, FL 34292
      View Details
    • $18 SF/Yr
      3,677 SF

      Turnkey Medical Office Space Available

      Furnished medical office space in Lakeside Medical Center.
      836 Sunset Lake Blvd, Venice, FL 34292
      View Details
    • $15 SF/Yr
      2,318 SF

      Venice Flex Space For Rent

      Flex space with offices and warehouse in Venice, Florida.
      779 Commerce Dr, Venice, FL 34292
      View Details
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    1550 Venice Ave
    Venice, FL 34292-1661
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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