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    Property profile & analytics

    236 Grove St Nokomis, FL 34285

    • Warehouses
    • 3,540 SF
    • 0.17 lot acres
    For Sale
    View listing
    $844,000
    Last Sale
    Dec 05, 2022
    $750,000
    Value Estimations
    Cap Rate Potential
    5.5%
    Warehouses
    Location Intelligence
    Property ID
    US18-1997503
    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

    • Warehouses

    Property Details for 236 Grove St

    Year built
    1963
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.17 lot acres
    Property size
    3,540 SF
    Zone code
    SBI
    Property type
    Warehouses
    APN
    0408-08-0043
    APU
    408080043

    Description

    This exceptional 6,404 square foot mixed-use property presents a unique live-work opportunity in the vibrant city of Venice, Florida. Located at 236 Grove Street, this two-story building, constructed in 1963, sits on a 7,500 square foot lot (APN 0408080043) and is zoned SBI. The property features a ground floor with a storefront entrance leading to a showroom/office area and restrooms, complemented by two overhead doors providing access to a warehouse space. The upper level offers versatile potential; it could generate rental income, be converted into additional office space, or serve as residential living quarters, perfectly suited for a live-work lifestyle. The building is currently vacant, allowing for immediate occupancy and customization to suit individual needs. Its convenient location just off US-41 Bypass offers easy access to downtown Venice, with its array of shops and restaurants. This multi-unit property (two units) represents a compelling investment opportunity for owner-users seeking a blend of commercial and residential space. The asking price is $844,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $905,000
      ML approach
      $890,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $825,000
      6.5%
      $765,000
      7%
      $710,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,006,000
      Market price range: $450k - $1.01M
      AI Estimate
      $608,000
      Market price range: $168k - $609k

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

    Location Insight

    • Map
    • Local Demand
    City
    Nokomis
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4353
    Latitude
    27.0978
    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
    $9,025
    $108,800
    $484,400
    $593,200
    -
    $108,800
    $484,400
    $593,200

    Comparable in this City

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      $10,085,000
      53,600 SF

      3500 Laurel E Rd

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    • Value Estimation
      $3,070,000
      16,412 SF

      115 Morse Ct

      WAREHOUSE, STORAGE • 16,412 SF
      115 Morse Ct, North Venice, FL 34275-3636
      View Details
    • Value Estimation
      $315,000
      1.15 Acres

      3459 Precision Dr

      STORAGE YARD (JUNK, SALVAGE) • 1.15 Acres
      3459 Precision Dr, North Venice, FL 34275-3659
      View Details
    • Value Estimation
      $325,000
      4,200 SF

      502 Riverview S Dr

      WAREHOUSE, STORAGE • 4,200 SF
      502 Riverview S Dr, Nokomis, FL 34275-2718
      View Details
    • Value Estimation
      $1,005,000
      37,830 SF

      1080 Enterprise Ct

      WAREHOUSE, STORAGE • 37,830 SF
      1080 Enterprise Ct, North Venice, FL 34275-3652
      View Details
    • Value Estimation
      $360,000
      3,600 SF

      128 Morse Ct

      WAREHOUSE, STORAGE • 3,600 SF
      128 Morse Ct, North Venice, FL 34275-3635
      View Details

    Similar Nearby for Sale

    • $399,000
      1,593 SF

      Nokomis Class A Office/Warehouse

      Class A office and warehouse condo in Triple Diamond Park.
      180 Triple Diamond Blvd, North Venice, FL 34275
      View Details
    • New
      $854,100
      1,725 SF

      Spacious Warehouse Oasis in NOKOMIS

      Versatile warehouse space perfect for enthusiasts, hobbies, and entertainment.
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    • New
      $556,200
      1,600 SF

      Functional Flex Warehouse with Mezzanine

      1,600 SF flex warehouse with mezzanine and I-75 access.
      121 Triple Diamond Blvd, North Venice, FL 34275
      View Details
    • Contact for pricing
      1.12 Acres

      Nokomis Commercial Land Opportunity

      Prime Sarasota County land, ideal retail/medical/office.
      0 Rio Limpio Ln, Nokomis, FL 34275
      View Details
    • $1,200,000
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      Nokomis Multifamily Land Investment

      Prime 1.35-acre residential lot near the Gulf.
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    Similar Nearby for Lease

    • Contact for pricing
      54,189 SF

      Nokomis Industrial Facility For Lease

      54,189± SF industrial facility perfect for manufacturing/distribution.
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      Nokomis Medical Office Opportunity

      Prime Medical Office Building - South Sarasota
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      View Details
    • Contact for pricing

      Nokomis Residential Land Parcel

      Vacant lot, prime Nokomis location.
      0 Laurel Rd, Nokomis, FL 34275
      View Details
    • Contact for pricing
      6,227 SF

      Prime Retail Location in Nokomis

      Highly visible retail site in a rapidly growing community.
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      View Details
    • $3 SF/Yr
      38,531 SF

      Nokomis Commercial Land For Rent

      Commercial land for rent with high-traffic frontage on Tamiami Trail.
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      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Publix-Anchored Center

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      View Details
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    236 Grove St
    Nokomis, FL 34285
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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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