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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Office buildings
512 Nokomis S Ave Venice, FL 34285-2817
Entity Owned
28-yr Hold
~
Est. High Equity
Property ID
US18-3576607
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING (MULTI-STORY)
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,650 SF
Lot
0.43 ac (18,720 SF)
Zoning code
ST2A
APN
0429-06-0045
UPID
US18-3576607
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
-
Radiology Associates of Venice Medical Clinic
-
Dr. Phillip M. Mihm, MD Physician Medical Clinic
-
Charles Gordon, MD Physician Medical Clinic
-
Dr. Gary D. Wright, MD Physician Medical Clinic
-
Dr. Charles J. Davenport, MD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.35M
Comparable Approach
Comparable
$2.01M
Blend (final)
Blend
$1.63M
Owner & transaction history
Hfps Limited Partnership · 28 yrs held
Hfps Limited Partnership
since 1997
5 recorded transactions
Zoning & alternative use
ST2A · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Neighborhood: shopping center
$2.6M
+67.5%
Industrial (general)
$2.5M
+61.3%
Medical building
$1.9M
+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%
$1,465,000
6.5%
$1,350,000
7%
$1,255,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,520,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,550,000
Change: +68% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,455,000
Change: +61% · Conversion: Difficult
MEDICAL BUILDING
$1,895,000
Change: +24% · Conversion: Easy
RETAIL STORES
$1,275,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±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
$288 / 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
$22,115
Tax year 2023
Assessed value
$1,527,500
Assessed 2023
Previous assessed
$1,275,500
+19.8% YoY
Effective rate
1.45%
On assessed value
Assessed land
$344,800
Assessed improvement
$1,182,700
Land market value
$344,800
Improvement market value
$1,182,700
Total market value
$1,527,500
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
2
Rooms
22
Bathrooms
7
Total area
5,650 SF
Lot
0.43 ac (18,720 SF)
Zoning code
ST2A
APN
0429-06-0045
UPID
US18-3576607
Jurisdiction
SARASOTA
Zoning & alternative use
ST2A · Venice, FLZoning ST2A · permitted uses
ST2A · 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
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$1.9M
RETAIL STORES
Est. value
$1.3M
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
2
Rooms
22
Bathrooms
7
Lot
0.43 ac
Current owner
From public records · entity-resolved
Hfps Limited Partnership
Entity
Mailing address
512 NOKOMIS AVE S, VENICE, FL 34285-2817
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1997
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 1997
—
Hfps Limited Partnership
Hfps Partnership
Quit Claim Deed
related
$639,000 · Suntrust Bank Gulf Coast
—
—
Rave Leasing LP Lllp
—
Loan Modification
related
$1,995,000 · Bankunited Fsb
—
—
Leasing LP Lllp Rave
—
Deed Of Trust
related
$786,250 · Suntrust Bank NA
—
—
Rave Leasing LP Lllp
—
Deed Of Trust
related
$305,000 · Bankunited Fsb
—
—
Leasing LP Rave
—
Deed Of Trust
related
$140,000 · Suntrust Bank NA
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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