Value Add Investment

Office for Sale
Catylist Listing ID: 30851289
Property Subtypes: Business Park, Medical, Office Building
Condo? Yes
Building Size (RSF): 4,802 SF
Gross Building Area: See Agent
Sale Price: $1,500,000
Property Use Type: Investment
Building Name: Nokomis Park Condominium Association
Class of Space: Class B
Usable Size (USF): 4,802 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/9/2023

Overview / Comments

The primary offer for the 329 Nokomis property is for 6 units owned by the Seller in the 8 unit property.

Nokomis Park Condominium Association is comprised of 13 units in two buildings.
The two buildings are the 321 and the 329 Nokomis Ave Buildings. The 329 building has a total of 5 tenants. The 321 building has 4 tenants. Some of the units have been combined to accommodate the Tenant's space needs. The primary offer is the 6 units (3 Tenants) of the 8 units in this building.

Option B
The 321 Property is available for Purchase, but only with the acquisition of the 329 Property as well. The 321 Property is not available as a stand along offer.


Finance Data Year 2023
Real Estate Taxes - Annual($) $11,556 (Annual)
Assessed Value - Total($) $835,120 (Annual)
Potential Rental Income $115,248 (Annual)
Gross Operating Income $99,434 (Annual)
Net Operating Income $79,546 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Sarasota
Taxing Authority: Sarasota County
Tax ID/APN: 0408141002
Is Condo?: Yes
Zoning: OPI
Property Located Between: Turin St and Milan Ave
Property Visibility: Excellent
Highway Access: One block west of US 41 Downtown Venice FL
Airports: Venice Regional Airport
Site Description: Beautiful Street with professional offices. The property is directly across from the Venice Community Center and adjacent to the"New" Venice Public Library.
Area Description: Professional Medical Office with a mix of General office, Quiet shady street.
Number of Stories: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,355 40,885 68,547
Median Age: 66.06 61.47 59.86
Households: 3,123 21,440 34,853


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