102 James StVenice, FL 34285

  • Industrial properties
  • 20,150 SF
For Sale
$2,699,000 View listing

Property Details for 102 James St

Year built
1973
Lot size
0.92 AC
Property size (Sq ft)
20,150 SF
Zone code
ILW
Property type
Industrial properties
Property subtype
Other warehouses
APN
0428-07-0013
APU
428070013

Description

This 20,150 sq ft self-storage facility in Venice, FL, presents a compelling value-add opportunity. Boasting 461 climate-controlled units within a caged/fenced facility, it sits on a 0.92-acre lot (APN: 0428070013) and benefits from a prime location adjacent to the Venice Bypass, enjoying high visibility and traffic counts (39,000+ AADT). Built in 1973 and renovated in 2012, the property offers significant upside potential through rent standardization and market rate adjustments. The strong demographics of the area, with 87,966 residents within a 5-mile radius and an average household income of $113,522, further enhance its investment appeal. The property's diversified unit mix, gross lease structure, and multi-tenancy contribute to its robust cash flow. The asking price is $2,699,000, representing a price per square foot of $133.95 and a price per unit of $5,854.66, with a projected 7.25% cap rate. Located in the desirable North Port-Sarasota-Bradenton Metropolitan Area, this property offers a blend of established income and growth potential. The property includes a sales office and generates income from U-Haul and supply sales in addition to storage rentals.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $6,117,960
    Hospitality
    $5,604,018
    Educational
    $4,662,478
    Medical
    $4,822,828
    Retail
    $7,252,743
102 James St, Venice, Florida

Location Insight

City
Venice
County
Sarasota
State
Florida
Latitude
27.0827
Longitude
-82.4241
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
$20,686
$213,500
$1,247,100
$1,460,600
-
$213,500
$1,247,100
$1,460,600

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