Property profile

641 Venice Ave Venice, FL 34285

OFF-MARKET
Office buildings
Property ID
US18-5113168
2,480 SF 0.2 ac lot Built 1955
Trust Owned 14-yr Hold Free & Clear
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Property summary

AI-generated overview

Located on the northwest corner of the traffic-signal intersection of US 41 Bypass N. and Venice Ave., this site is outside of a flood zone and has access to public water and sewer. The property includes a lot size of 0.2 acres with a building totaling 2,480 square feet and provides curb-cut access from both major streets. On-site parking includes more than 25 spaces at the rear. The building has a recently replaced roof, fresh interior/exterior paint, and ceramic tile finishes. The property fronts an area with traffic counts of over 40,000 vehicles along the bypass and approximately 25,000 vehicles eastbound on Venice Ave., and it is situated to the west of the Venice Seaboard District, an industrial area targeted for a master-plan transition toward mixed-use zoning. Zoning is Venice Avenue, which is designed to support mixed-use development with retail or restaurant-type uses on the ground floor and professional office, residential, or similar uses above.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1955
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 2,480 SF
Lot 0.2 ac (8,625 SF)
Zoning code VA
APN 0408-01-0118
UPID US18-5113168

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

641 Venice Ave Venice, FL 34285-4636
Venice metro Census 2305 NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$355k
CAP Approach CAP
$595k
Comparable Approach Comparable
$671k
Blend (final) Blend
$355k

Owner & transaction history

since 2012
Last sale
$477,000
2 recorded transactions
2012
Price N/A
2000
$130,000

Zoning & alternative use

VA · Venice, FL
Zoning description

Portable storage containers within the Venice Avenue (VA) Zoning District may be approved by the Zoning Administrator for a maximum of ninety (90) consecutive days only between the months of December and April. vi. In al…

General category CIVIC_INSTITUTIONAL
Top alternative use upside
Medical building $830,000 +24.3%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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