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    Property profile & analytics

    1990 Tamiami Trl Venice, FL 34293

    • Office buildings
    • 3,128 SF
    • 0.38 lot acres
    For Sale
    View listing
    $599,990
    Last Sale
    May 06, 2022
    $599,000
    Value Estimations
    Cap Rate Potential
    6.1%
    Office buildings
    Location Intelligence
    Property ID
    US18-3038413
    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

    • Venice Periodontics and Dental Implants / Dental Implants Periodontist
    • Raja Jay MD / Gastroenterologist

    Property Details for 1990 Tamiami Trl

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.38 lot acres
    Property size
    3,128 SF
    Zone code
    OPI
    Property type
    Office buildings
    APN
    0449-12-0082
    APU
    449120082

    Description

    This exceptional 3,128 square foot medical office building presents a unique investment opportunity in the thriving Venice, Florida market. Situated on a 0.3-acre lot at 1990 S Tamiami Trl, this property boasts unparalleled visibility and accessibility. With a daily traffic count exceeding 41,000 vehicles on Tamiami Trail (US-41), this location ensures maximum exposure for any business. The strategic placement at the intersection of US-41 and Baffin Drive, enhanced by a median cut allowing access from both northbound and southbound traffic, further optimizes accessibility for clients and employees. The building's zoning designation is Office, Professional Institutional (OPI), with an underlying zoning and Future Land Use (FLU) of Commercial Corridor (COMCOR), providing flexibility for a variety of professional uses. This prime commercial real estate offers a compelling combination of high traffic volume, excellent location, and versatile zoning, making it an ideal investment for discerning buyers seeking a strong return on investment in a rapidly growing area. The property's size and location make it suitable for a variety of businesses seeking high visibility and convenient access for their clients. This is a rare opportunity to acquire a well-positioned commercial property in a desirable location. The asking price is $599,990.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $805,000
      ML approach
      $785,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $810,000
      6.5%
      $750,000
      7%
      $695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $728,000
      Market price range: $589k - $1.21M
      AI Estimate
      $556,000
      Market price range: $427k - $809k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $835,000
      Current use
      MEDICAL BUILDING
      $1,050,000
      Change: +26% Conversion: Easy
      RETAIL STORES
      $920,000
      Change: +10% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4146
    Latitude
    27.0588
    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
    $7,117
    $285,000
    $239,500
    $524,500
    -
    $285,000
    $239,500
    $524,500

    Comparable in this City

    • Value Estimation
      $565,000
      6,872 SF

      1868 Tamiami Trl

      PROFESSIONAL BUILDING • 6,872 SF
      1868 Tamiami Trl, Venice, FL 34293-3160
      View Details
    • Value Estimation
      $3,445,000
      4,652 SF

      160 Pointe Loop Dr

      PROFESSIONAL BUILDING • 4,652 SF
      160 Pointe Loop Dr, Venice, FL 34293-5261
      View Details
    • Value Estimation
      $470,000
      2,096 SF

      130 Shamrock Blvd

      OFFICE BUILDING • 2,096 SF
      130 Shamrock Blvd, Venice, FL 34293-1629
      View Details
    • Value Estimation
      $285,000
      948 SF

      1661 Bal Harbour Dr

      OFFICE BUILDING (MULTI-STORY) • 948 SF
      1661 Bal Harbour Dr, Venice, FL 34293-1206
      View Details
    • Value Estimation
      $400,000
      1,647 SF

      1694 Tamiami Trl

      OFFICE BUILDING • 1,647 SF
      1694 Tamiami Trl, Venice, FL 34293-1633
      View Details
    • Value Estimation
      $1,830,000
      9,658 SF

      1978 Tamiami Trl

      OFFICE BUILDING (MULTI-STORY) • 9,658 SF
      1978 Tamiami Trl, Venice, FL 34293-5006
      View Details

    Similar Nearby for Sale

    • $800,000
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      Prime Venice Medical Office Land

      2-Acre Medical Office Development Site
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      Wellen Park Commercial Land

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      Venice Multifamily Property For Sale

      Multifamily property for sale in Venice, Florida.
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      Vacant Land in South Venice

      0.23-acre vacant land parcel in South Venice neighborhood.
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    Similar Nearby for Lease

    • Contact for pricing
      45,000 SF

      Medical Center at Wellen Park

      Class A medical office space in Wellen Park, Venice.
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      View Details
    • $42 SF/Yr
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      New Retail and Office Space

      Newly constructed retail and office spaces in Wellen Park.
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    • $9,600 /Mo

      Small Office Space on 41

      600 sq ft office space with high visibility.
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      View Details
    • $14 SF/Yr
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      Venice Retail/Office Space Available

      Retail or office space for lease on Tamiami Trail.
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      View Details
    • $24 SF/Yr
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      2065 Tamiami Trl

      Office Properties & Spaces • 62,748 SF
      2065 Tamiami Trl, Venice, FL 34293
      View Details
    • Contact for pricing
      4,350 SF

      River Road Retail Opportunity

      Three Suites, High-Visibility Location
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      View Details
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    1990 Tamiami Trl
    Venice, FL 34293
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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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