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    602 Venice Ave Venice, FL 34285-4635
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    602 Venice Ave Venice, FL 34285-4635

    View on Map
    • Office buildings
    • 2,434 SF
    • 0.14 lot acres
    Off-Market
    Property ID
    US18-2301463
    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.
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Davison Inventions / Research And Product Development
    • Joyce Mccaffrey / Ophthalmologist / (Bike/Boat/Book/etc) Store

    Property Details for 602 Venice Ave

    Year built
    1955
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.14 lot acres
    Property size
    2,434 SF
    Zone code
    VA
    Property type
    Office buildings
    APN
    0408-01-0039
    APU
    408010039

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $630,000
      6.5%
      $580,000
      7%
      $540,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $621,000
      Market price range: $254k - $660k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $655,000
      Current use
      MEDICAL BUILDING
      $815,000
      Change: +24% Conversion: Easy
      RETAIL STORES
      $550,000
      Change: -16% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Venice
    County
    Sarasota
    State
    Florida
    Longitude
    -82.4352
    Latitude
    27.0995
    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
    $7,791
    $214,500
    $386,400
    $600,900
    -
    $214,500
    $386,400
    $600,900

    Comparable in this City

    • Value Estimation
      $980,000
      4,024 SF

      621 Tamiami S Trl

      PROFESSIONAL BUILDING • 4,024 SF
      621 Tamiami S Trl, Venice, FL 34285-3237
      View Details
    • Value Estimation
      $1,265,000
      5,838 SF

      258 Tamiami S Trl

      OFFICE BUILDING • 5,838 SF
      258 Tamiami S Trl, Venice, FL 34285-2440
      View Details
    • Value Estimation
      $610,000
      2,654 SF

      145 Miami E Ave

      PROFESSIONAL BUILDING • 2,654 SF
      145 Miami E Ave, Venice, FL 34285-2407
      View Details
    • Value Estimation by Request
      1,050 SF

      213 Nassau S St

      OFFICE BUILDING • 1,050 SF
      213 Nassau S St, Venice, FL 34285-2317
      View Details
    • Value Estimation
      $540,000
      1,997 SF

      200 Palermo Pl

      PROFESSIONAL BUILDING • 1,997 SF
      200 Palermo Pl, Venice, FL 34285-2820
      View Details
    • Value Estimation by Request
      1,182 SF

      212 Palermo Pl

      OFFICE BUILDING • 1,182 SF
      212 Palermo Pl, Venice, FL 34285-2820
      View Details

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      Fully Leased Venice Office Complex

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      Fully occupied office building in Venice area, renovated in 2023.
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      Downtown Venice Landmark Mixed-Use Property

      Landmark mixed-use property in downtown Venice, Florida for sale.
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      Three-Story Office Building in Venice

      Three-story office building in the heart of downtown Venice.
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      Fully leased office building on Venice Island near airport.
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    Similar Nearby for Lease

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      Venice Island Office Property

      Professionally-configured office building on Venice Island's Tamiami Trail corridor.
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      Venice Avenue Retail/Office Opportunity

      Repurposed bank location for retail, restaurant, or office use.
      304 W Venice Ave, Venice, FL 34285
      View Details
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      1,003 SF

      Two-Room Office Space Available

      Two-room office unit available for rent, totaling 280 square feet.
      333 S Tamiami Trl, Venice, FL 34285
      View Details
    • Contact for pricing

      Venice Office Space For Lease

      Office space for lease near Tamiami Trail in Venice.
      101 San Marco Dr, Venice, FL 34285
      View Details
    • $17 SF/Yr
      4,024 SF

      Venice Medical Office Space

      Medical office space available for rent in Venice, Florida.
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    • Contact for pricing
      1,600 SF

      Furnished Office Space Available

      Furnished office space in the Osprey area for lease.
      2113 S Tamiami Trl, Venice, FL 34285
      View Details
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    602 Venice Ave
    Venice, FL 34285-4635
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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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