1000 Tamiami TrlVenice, FL 34285

Property Details for 1000 Tamiami Trl

Year built

1985

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.60 AC

Property size (Sq ft)

7,165 SF

Zone code

ST2

Property type

Office properties

Property subtype

Office buildings

APN

0430-08-0006

APU

430080006

Description

This exceptional 7,165 square foot, single-story office building in Venice, Florida, presents a compelling owner-user opportunity. Located at 1000 S Tamiami Trail, this Class B property boasts a multi-tenant configuration with three current occupants, resulting in a 75% occupancy rate as of December 15, 2023. The building, constructed in 1985, features four units and sits on a substantial 26,136 square foot lot, zoned ST2 - SOUTH TRAIL: SUBAREA 2. The asking price is $1,645,000, translating to $229.59 per square foot. The gross lease structure simplifies management. The property offers ample space, including multiple private offices, a conference room, restrooms, and a kitchenette. Its convenient location near the Venice municipal airport and downtown Venice enhances its appeal. This Core+ investment presents a strong opportunity for an owner-occupant seeking to establish or expand their business in a thriving location. The property's current occupancy provides immediate cash flow, while the available space allows for customization to meet specific business needs. This is a rare opportunity to acquire a well-maintained, strategically located office building in a desirable area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,900,589

  6.5%

  $1,754,390

  7%

  $1,629,076

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,437,368

  Geo Method

  $1,308,544

• Alternative Use

  Use

  Valuation

  Residential

  $2,175,444

  Hospitality

  $1,992,694

  Educational

  $1,657,898

  Medical

  $1,714,916

  Retail

  $2,578,953

Location Insight

City

Venice

County

Sarasota

State

Florida

Latitude

27.0828

Longitude

-82.4363

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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