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Property profile & analytics
OFF-MARKET
Estimated value
$1,730,000
Medical Office Space
842 Sunset Lk Blvd Ste 403 Venice, FL 34292-7553
Individually Owned
4-yr Hold
Free & Clear
Property ID
US18-5934255
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
5,243 SF
Zoning code
OPI
APN
0424-07-1011
UPID
US18-5934255
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.29M
CAP Approach
CAP
$1.48M
Comparable Approach
Comparable
$2.16M
Blend (final)
Blend
$1.73M
Owner & transaction history
Paul Russo · 4 yrs held
Paul Russo
since 2021
Last sale
$1.6M
2 recorded transactions
Zoning & alternative use
OPI · Venice, FL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.4M
+34.7%
Industrial (general)
$2.3M
+29.7%
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
$2,330,000
ML approach
$2,285,000
CAP Approach
CAP Return
Estimation
6%
$1,605,000
6.5%
$1,480,000
7%
$1,375,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,755,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,365,000
Change: +35% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$2,280,000
Change: +30% · Conversion: Difficult
RETAIL STORES
$1,540,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$1.73M
Range $1.56M – $1.90M · ±10% · vs last sale $1.60M (Sep 17 2021)
Last sale anchor
$1.60M
Sep 17 2021
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
$330 / 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
$16,492
Tax year 2023
Assessed value
$1,288,500
Assessed 2023
Previous assessed
$1,166,200
+10.5% YoY
Effective rate
1.28%
On assessed value
Assessed improvement
$1,288,500
Improvement market value
$1,288,500
Total market value
$1,288,500
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
5,243 SF
Zoning code
OPI
APN
0424-07-1011
UPID
US18-5934255
Jurisdiction
SARASOTA
Zoning & alternative use
OPI · Venice, FL
Zoning OPI · permitted uses
OPI · 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
MEDICAL BUILDING Current
Est. value
$1.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
INDUSTRIAL (GENERAL)
Est. value
$2.3M
RETAIL STORES
Est. value
$1.5M
MEDICAL BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
INDUSTRIAL (GENERAL)
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
2002
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Current owner
From public records · entity-resolved
Paul Russo
Individual
Free & Clear · 4 yrs held
Mailing address
429 NORTHROP ST, BRIDGEWATER, CT 06752-1629
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2021
$1,600,000
Paul Russo
Robert Ross
Warranty Deed
—
—
—
Gulf Coast Urology Props LLP
—
Deed Of Trust
related
—
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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