Back to Search
Property profile & analytics
FOR LEASE
Office buildings
421 Commercial Ct Venice, FL 34292
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US18-2233939
For Lease
1 / 13
Contact for pricing
421 Commercial Ct, Venice, FL 34292
View Listing →
Property summary
AI-generated overview
This exceptional office space, located at 421 Commercial Court in the prestigious Lakeview Office Park, offers two available suites totaling 5,472 square feet. Built in 2003, this single-story building provides a timeless aesthetic within a convenient, shared parking lot setting. The suites are ideal for a variety of professional uses, including medical practices, accounting firms, or legal offices. The property is zoned CHI - COMMERCIAL, HIGHWAY INTERCHANGE, providing excellent visibility and accessibility. Its strategic location just off I-75 at Jacaranda Boulevard in Venice ensures high traffic exposure, benefiting from the flow of traffic from Venice, Sarasota, and North Port. The owner is offering a tenant improvement allowance to the successful tenant. The property features a total of 5,472 square feet of vacant space, with two individual suites available. This is a rare opportunity to secure prime office space in a highly desirable location. The property's single-story design and ample parking make it an attractive option for businesses of all sizes. Don't miss this chance to establish your business in this thriving area.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,600 SF
Lot
3.36 ac (146,218 SF)
Zoning code
CHI
APN
0400-16-0001
UPID
US18-2233939
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
-
Pooja Pothiwala Physician
-
Compassionate Care 425 Commercial Court, Suite C. Physician
-
Jennifer J. Upton, LMHC Counselor
-
Ashley L. Barnette, MSW Foster Care Service Social Service Agency
-
Mr. Vinod Bhatnagar Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.78M
Comparable Approach
Comparable
$4.48M
Blend (final)
Blend
$3.56M
Owner & transaction history
N Lockwood Ridge Rd LLC · 14 yrs held
N Lockwood Ridge Rd LLC
since 2011
7 recorded transactions
Zoning & alternative use
CHI · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$5.2M
+69.4%
Industrial (general)
$5.0M
+63.1%
Medical building
$3.9M
+25.8%
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%
$3,005,000
6.5%
$2,775,000
7%
$2,575,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,090,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$5,235,000
Change: +69% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$5,040,000
Change: +63% · Conversion: Difficult
MEDICAL BUILDING
$3,885,000
Change: +26% · Conversion: Easy
RETAIL STORES
$3,410,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$3.56M
Range $3.20M – $3.91M · ±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
$306 / 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
$45,470
Tax year 2023
Assessed value
$3,565,900
Assessed 2023
Previous assessed
$3,111,400
+14.6% YoY
Effective rate
1.28%
On assessed value
Assessed land
$792,200
Assessed improvement
$2,773,700
Land market value
$792,200
Improvement market value
$2,773,700
Total market value
$3,565,900
Applied tax rate
100.0000
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
OFFICE BUILDING
Status
For Lease
Year built
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Buildings
2
Stories
1
Total area
11,600 SF
Lot
3.36 ac (146,218 SF)
Zoning code
CHI
APN
0400-16-0001
UPID
US18-2233939
Jurisdiction
SARASOTA
Zoning & alternative use
CHI · Venice, FLZoning CHI · permitted uses
CHI · Venice, FL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.2M
INDUSTRIAL (GENERAL)
Est. value
$5.0M
MEDICAL BUILDING
Est. value
$3.9M
RETAIL STORES
Est. value
$3.4M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
2003
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
3.36 ac
Current owner
From public records · entity-resolved
N Lockwood Ridge Rd LLC
Entity
Free & Clear · 14 yrs held
Mailing address
2881 PLACIDA RD STE #201, ENGLEWOOD, FL 34224-5571
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2011
$200,000
N Lockwood Ridge Rd LLC
Privitello,filippo
Warranty Deed
—
Oct 11, 2010
$110,000
Jacaranda North Corp
Venice Interchange Corp
Warranty Deed
—
Jun 13, 2002
$400,000
Lvop F & G LLC
Jacaranda Commerical Corp
Grant Deed
—
Jun 13, 2002
$87,800
Sun Acre Corp
Lvop F & G LLC
Grant Deed
—
Jun 13, 2002
$529,500
Parker Trust
Lvop F & G LLC
Grant Deed
—
Oct 3, 2001
$150,000
Venice Interchange Corp
Jacaranda Commercial Corp
Grant Deed
—
Aug 23, 2001
$1,588,300
Kalin Financial Co
Jacaranda Commercial Corp
Grant Deed
related
$1,096,960 · Bank Of America
Mar 9, 2000
$373,800
Jacaranda North Corp
Everglades Road Associates Ltd
Grant Deed
$244,800 · Tarue Corp
Mar 8, 2000
$628,500
Jacaranda Commercial Corp
Everglades Road Associates Ltd
Trustees Deed
$500,000 · Kalin Financial Co
Mar 8, 2000
$1,115,200
Palermo,george & Loren
Everglades Road Associates Ltd
Trustees Deed
$1,115,200 · Tarue Corp
Mar 11, 1999
$268,000
Kmb Financial Group INC
Everglades Road Assoc Ltd
Grant Deed
related
$400,000 · Kane Trust
Dec 24, 1997
$330,800
Robert H Goldberg
Everglades Road Associates Ltd
Grant Deed
$297,652 · Northern Trust Bank Of Florida
Sep 19, 1997
$325,000
Jacaranda Hospitality INC
Guran Associates
Grant Deed
$3,234,000 · Busey Bank
Sep 17, 1997
$168,000
Jacaranda Commercial Corp
Everglades Road Assoc Ltd
Grant Deed
$885,000 · Suntrust Bank Gulf Coast
Mar 13, 1997
$325,000
Guran Assoc
Everglades Road Assoc Ltd
Grant 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
