102 James StVenice, FL 34285
- Industrial properties
- 20,150 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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