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    Property profile & analytics

    162 Progress Cir Venice, FL 34285-5536

    • Warehouses
    • 6,000 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $330,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-5447802
    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

    • City Electric Supply Venice / Electrical Supply Store / Liquidator

    Property Details for 162 Progress Cir

    Year built
    1987
    Lot size
    0.53 lot acres
    Property size
    6,000 SF
    Zone code
    ILW
    Property type
    Warehouses
    APN
    0428-03-0011
    APU
    428030011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $474,000
      Market price range: $304k - $758k

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

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4262
    Latitude
    27.0853
    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
    $7,010
    $145,300
    $306,400
    $451,700
    -
    $145,300
    $306,400
    $451,700

    Comparable in this City

    • Value Estimation
      $305,000
      0.16 Acres

      607 Cypress Ave

      STORAGE YARD (JUNK, SALVAGE) • 0.16 Acres
      607 Cypress Ave, Venice, FL 34285-4606
      View Details
    • Value Estimation
      $820,000
      12,096 SF

      1120 Us Hwy 41st S Byp

      MINI-WAREHOUSE, STORAGE • 12,096 SF
      1120 Us Hwy 41st S Byp, Venice, FL 34285-5538
      View Details
    • Value Estimation
      $495,000
      4,999 SF

      133 Seaboard Ave

      WAREHOUSE, STORAGE • 4,999 SF
      133 Seaboard Ave, Venice, FL 34285-4616
      View Details
    • Value Estimation
      $1,015,000
      20,150 SF

      102 James St

      MINI-WAREHOUSE, STORAGE • 20,150 SF
      102 James St, Venice, FL 34285-5527
      View Details
    • Value Estimation
      $970,000
      22,602 SF

      101 James St

      WAREHOUSE, STORAGE • 22,602 SF
      101 James St, Venice, FL 34285-5526
      View Details
    • Value Estimation
      $1,675,000
      20,680 SF

      402 Substation Rd

      WAREHOUSE, STORAGE • 20,680 SF
      402 Substation Rd, Venice, FL 34285-6076
      View Details

    Similar Nearby for Sale

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      Venice Flex Warehouse - $820K

      Prime Venice location, 3,280 sq ft, vacant.
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      Venice, FL Warehouse/Storage Facility

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      Venice Flex Space - Live/Work Opportunity

      6,404 SF Flex Space, Vacant, $844,000
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    • Contact for pricing

      Venice, Florida Live-Work Opportunity

      6,404 SF building with showroom, warehouse, and potential living space.
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    • $1,800,000
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      Venice Retail Investment Opportunity

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    Similar Nearby for Lease

    • $13 SF/Yr
      40,000 SF

      Venice Warehouse: 40,000 SF

      Two-building warehouse, multiple suites available.
      313 Seaboard Ave, Venice, FL 34285
      View Details
    • $14 SF/Yr
      9,757 SF

      Venice Warehouse with Fenced Yard

      9,757 SF freestanding warehouse with secure fenced yard in Venice.
      218 Seaboard Ave, Venice, FL 34285
      View Details
    • $16 SF/Yr
      3,075 SF

      Venice Warehouse Spaces Available

      Multiple Units, 250-1125 sq ft
      265 Seaboard Ave, Venice, FL 34285
      View Details
    • $8,600,000
      338 SF

      Renovated Venice Warehouse & Self-Storage

      Fully renovated complex near Island of Venice and Legacy Trail.
      249 Seaboard Ave, Venice, FL 34285
      View Details
    • Contact for pricing
      9,172 SF

      Prime Sarasota Industrial Land

      5.48 Acres, 9,172 SF Building
      1290 Us-41 Byp, Venice, FL 34285
      View Details
    • $22 SF/Yr
      3,500 SF

      Venice Island Industrial Building

      3,500 SF Manufacturing Space, 0.48 Acres
      264 Bahama St, Venice, FL 34285
      View Details
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    162 Progress Cir
    Venice, FL 34285-5536
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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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