304 Venice AveVenice, FL 34285

Property Details for 304 Venice Ave

Year built

1975

Lot size

2.34 AC

Property size (Sq ft)

36,378 SF

Zone code

VA

Property type

Office properties

Property subtype

Office buildings

APN

0408-04-0129

APU

408040129

Description

This exceptional three-story, Class B office building, totaling 42,657 square feet, presents a unique investment opportunity in Sarasota County's vibrant Central Business District (CBD). Constructed in 1975 and renovated in 2010, the property boasts a prime location on West Venice Avenue, offering high visibility and excellent foot traffic. The building features multiple tenancy options, with spaces ranging from a minimum of 2,000 square feet to a maximum contiguous space of 8,461 square feet. The entire first floor is currently available and can be subdivided to accommodate various business needs. Its previous use as a Bank of America branch speaks to its strong structural integrity and desirable location. The building includes elevators for convenient access to all three floors. The zoning designation is CBD, allowing for a variety of commercial uses, including office, retail, and restaurant spaces. This property is an ideal choice for businesses seeking a prominent location in a thriving area, benefiting from the high volume of local and tourist traffic on Venice Avenue. The property's APN is 0408-04-0129. This is a rare opportunity to secure a well-maintained, versatile commercial space in a highly sought-after Sarasota location.

• CAP approach

  CAP return

  Valuation

  6%

  $9,649,634

  6.5%

  $8,907,354

  7%

  $8,271,114

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,297,776

  Geo Method

  $6,643,714

• Alternative Use

  Use

  Valuation

  Residential

  $11,045,119

  Hospitality

  $10,117,270

  Educational

  $8,417,450

  Medical

  $8,706,939

  Retail

  $13,093,811

Location Insight

City

Venice

County

Sarasota

State

Florida

Latitude

27.1004

Longitude

-82.4485

CBSA code

35840

CBSA name

NORTH PORT-SARASOTA-BRADENTON, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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