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    Property profile & analytics

    2996 Executive Dr Venice, FL 34292

    • Retail space
    • 9,877 SF
    • 2.12 lot acres
    For Lease
    View listing
    $25 SF/Yr
    Last Sale
    Jan 23, 2020
    Value Estimations
    $750,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US18-7651025
    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

    • Retail space

    Property Details for 2996 Executive Dr

    Year built
    2022
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    2.12 lot acres
    Property size
    9,877 SF
    Zone code
    PCD; EVA
    Property type
    Retail space
    APN
    0415-05-0008
    APU
    415050008

    Description

    This exceptional 12,941 square foot retail strip center, constructed in 2021, presents a unique investment opportunity in the thriving Venice, Florida market. Located at 2996 Executive Drive, Sarasota County, zip code 34292, this property offers multiple tenancy options, with spaces ranging from a minimum of 1,046 square feet to a maximum contiguous space of 10,000 square feet. The center boasts a desirable location and features attractive amenities for tenants and patrons alike. One notable feature is an end-cap space thoughtfully designed to accommodate a drive-thru lane, ideal for a quick-service restaurant or similar business. Adding to the property's appeal is a generous 13-foot-wide patio extending the length of the building, providing ample outdoor space perfect for dining or other customer-facing activities. This property is situated in a high-traffic area, offering excellent visibility and accessibility for businesses seeking a prominent presence in the Venice community. The building's modern design and versatile space options make it an attractive proposition for a variety of retail uses. This is a rare opportunity to secure a well-located, modern retail space in a rapidly growing market. Contact us today to learn more about leasing opportunities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $750,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.3825
    Latitude
    27.1072
    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
    $30,252
    $1,254,300
    $1,042,100
    $2,296,400
    -
    $1,254,300
    $1,042,100
    $2,296,400

    Comparable in this City

    • Value Estimation
      $1,040,000
      23,207 SF

      1740 Venice Ave

      RETAIL STORES (PERSONAL SERVICES) • 23,207 SF
      1740 Venice Ave, Venice, FL 34292-3192
      View Details
    • Value Estimation
      $5,970,000
      2,500 SF

      1290 Jacaranda Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,500 SF
      1290 Jacaranda Blvd, Venice, FL 34292-4505
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    • Value Estimation
      $7,265,000
      14,923 SF

      1405 Venice Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,923 SF
      1405 Venice Ave, Venice, FL 34292-3064
      View Details
    • Value Estimation
      $305,000
      1,039 SF

      1500 Venice Ave, Unit 3A

      RETAIL STORES (PERSONAL SERVICES) • 1,039 SF
      1500 Venice Ave, Venice, FL 34292-1662
      View Details
    • Value Estimation
      $310,000
      1,281 SF

      1500 Venice Ave, Unit 4A

      RETAIL STORES (PERSONAL SERVICES) • 1,281 SF
      1500 Venice Ave, Venice, FL 34292-1662
      View Details
    • Value Estimation
      $10,155,000
      18,750 SF

      19410 Times Cir

      RETAIL STORES (PERSONAL SERVICES) • 18,750 SF
      19410 Times Cir, Venice, FL 34292-3602
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
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      Retail Space in Publix-Anchored Center

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    • $25 SF/Yr
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      New Retail Center Space Available

      New retail center with drive-thru and patio available for lease.
      2996 Executive Dr, Venice, FL 34292
      View Details
    • $30 SF/Yr
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      Venice Retail Space with Drive-Thrus

      Retail space with four drive-thrus available for lease.
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    Venice, FL 34292
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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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