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Property profile & analytics
FOR LEASE
Warehouses
159 Progress Cir Venice, FL 34285
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-9896209
For Lease
1 / 16
$749,900 SF/Yr
159 Progress Cir, Venice, FL 34285
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,000 SF
Lot
0.45 ac (19,631 SF)
Zoning code
ILW
APN
0428-02-0003
UPID
US18-9896209
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
$685k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$518k
Blend (final)
Blend
$650k
Owner & transaction history
159 Progress Circle LLC · 4 yrs held
159 Progress Circle LLC
since 2022
Last sale
$525,000
5 recorded transactions
Zoning & alternative use
ILW · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$705,000
ML approach
$685,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$945,000
Current use
Blend value · Realmo final
$650k
Range $585k – $715k · ±10% · vs last sale $525k (Jan 3 2022)
Last sale anchor
$525k
Jan 3 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
$108 / 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
$9,217
Tax year 2023
Assessed value
$493,100
Assessed 2023
Previous assessed
$462,900
+6.5% YoY
Effective rate
1.87%
On assessed value
Assessed land
$130,000
Assessed improvement
$363,100
Land market value
$130,000
Improvement market value
$363,100
Total market value
$493,100
Applied tax rate
100.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Rooms
7
Bathrooms
6
Total area
6,000 SF
Lot
0.45 ac (19,631 SF)
Zoning code
ILW
APN
0428-02-0003
UPID
US18-9896209
Jurisdiction
SARASOTA
Zoning & alternative use
ILW · Venice, FL
Zoning ILW · permitted uses
ILW · 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
WAREHOUSE, STORAGE Current
Est. value
$945,000
WAREHOUSE, STORAGE Current
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Rooms
7
Bathrooms
6
Lot
0.45 ac
Current owner
From public records · entity-resolved
159 Progress Circle LLC
Entity
Free & Clear · 4 yrs held
Mailing address
VENICE, FL 34284
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2022
$525,000
159 Progress Circle LLC
Knop Acquisition Company INC
Warranty Deed
—
Sep 4, 2008
—
Knop Acquistion Co INC
—
Trustees Deed
related
$200,000 · Goodman Leah W Trust (tr)
Jul 1, 2008
$492,000
Knop Acquisition Co INC
Venice Marble & Granite INC
Warranty Deed
—
Feb 4, 2004
$400,000
Venice M & T Acquisition Corp
Venice Properties LLC
Grant Deed
related
$1,100,000 · Venice Marble & Granite INC
Nov 3, 1998
$83,428
Christopher E Knop
Knop,christopher E
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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