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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Retail space
215 Venice Ave Venice, FL 34285-2002
Entity Owned
20-yr Hold
Free & Clear
Property ID
US18-3005953
Property profile
Verified
Property type
Retail space
Use group
STORE, RETAIL OUTLET
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,394 SF
Lot
0.11 ac (4,859 SF)
Zoning code
VA
APN
0408-04-0049
UPID
US18-3005953
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
-
Premier Sotheby's International Realty Real Estate Agency
-
Signature Sotheby's International Realty - John Peirano Broker Associate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$1.01M
Blend (final)
Blend
$960k
Owner & transaction history
Addys Inn LLC · 20 yrs held
Addys Inn LLC
since 2005
1 recorded transaction
Zoning & alternative use
VA · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.5M
+48.5%
Office building
$1.2M
+19.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,145,000
6.5%
$1,055,000
7%
$980,000
Alternative Use
Use
Estimation
RETAIL STORES
$990,000
Current use
MEDICAL BUILDING
$1,470,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$1,185,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10%
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
$218 / 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
$11,853
Tax year 2023
Assessed value
$824,700
Assessed 2023
Previous assessed
$679,900
+21.3% YoY
Effective rate
1.44%
On assessed value
Assessed land
$417,900
Assessed improvement
$406,800
Land market value
$417,900
Improvement market value
$406,800
Total market value
$824,700
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
STORE, RETAIL OUTLET
Status
Off-Market
Year built
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
2
Bathrooms
1
Total area
4,394 SF
Lot
0.11 ac (4,859 SF)
Zoning code
VA
APN
0408-04-0049
UPID
US18-3005953
Jurisdiction
SARASOTA
Zoning & alternative use
VA · Venice, FL
Zoning VA · permitted uses
VA · 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
$990,000
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
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
1925
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
2
Bathrooms
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Addys Inn LLC
Entity
Free & Clear · 20 yrs held
Mailing address
235 PONCE DE LEON AVE, VENICE, FL 34285-2331
Ownership since
2005
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
Nov 16, 2005
—
Addys Inn LLC
Griffith,michael J & Addy
Quit Claim 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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