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Property profile & analytics
OFF-MARKET
Estimated value
$1,210,000
Office buildings
420 Nokomis S Ave Venice, FL 34285-2617
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US18-9566357
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,830 SF
Lot
0.46 ac (20,000 SF)
Zoning code
ST2
APN
0429-03-0037
UPID
US18-9566357
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
-
Paula Pyle Physician
-
Shelby Burke Physician
-
JOYCE A ADAMS Physician
-
Romanski Martin DC Alternative Medicine Practice
-
Island ENT and Wellness Medical Clinic Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$915k
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.21M
Owner & transaction history
Grappin Holdings Venice · 1 yrs held
Grappin Holdings Venice
since 2024
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
ST2 · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$1.7M
+67.5%
Medical building
$1.3M
+24.3%
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%
$995,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,030,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,730,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$1,285,000
Change: +24% · Conversion: Easy
RETAIL STORES
$865,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.21M
Range $1.09M – $1.33M · ±10% · vs last sale $1.50M (Jul 31 2024)
Last sale anchor
$1.50M
Jul 31 2024
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
$316 / 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
$12,051
Tax year 2023
Assessed value
$839,500
Assessed 2023
Previous assessed
$690,600
+21.6% YoY
Effective rate
1.44%
On assessed value
Assessed land
$362,500
Assessed improvement
$477,000
Land market value
$362,500
Improvement market value
$477,000
Total market value
$839,500
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
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
20
Bathrooms
1
Total area
3,830 SF
Lot
0.46 ac (20,000 SF)
Zoning code
ST2
APN
0429-03-0037
UPID
US18-9566357
Jurisdiction
SARASOTA
Zoning & alternative use
ST2 · Venice, FL
Zoning ST2 · permitted uses
ST2 · 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
OFFICE BUILDING Current
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$865,000
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
RETAIL STORES
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
1958
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
20
Bathrooms
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Grappin Holdings Venice
Entity
Mailing address
415 WATERSIDE LN, NOKOMIS, FL 34275-1485
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2024
$1,500,000
Grappin Holdings Venice
Dennis E Rhodes
Special Warranty Deed
$1,370,000 · Dennis E Rhodes Living Trust
Apr 21, 1998
$167,700
Dennis E Rhodes
Anderson,susan J
Quit Claim Deed
related
$430,000 · Suntrust Bank Gulf Coast
—
—
Rhodes,dennis E Tr
—
Deed Of Trust
related
$80,000 · Lamoureux Trust
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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