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Commercial Portfolio! Seller Financing! 229 W Venice Ave 25,000 SF 100% Leased Retail Building Venice, FL 34285 $17,500,000 ($700/SF) 5.05% Cap Rate
Investment Highlights
- 100% Leased Commercial Buildings
- Seller Financing Offered to Qualified Purchasher
- Commercial & Residential Tenants (15 Apartments
Executive Summary
This offer is a portfolio of commercial/residential properties located on West Venice Ave, a well-known section of Venice Florida. With an abundance of shopping, restaurants and entertainment, West Venice Ave attracts thousands of visitors annually.
The properties included in this portfolio are fully leased with long-term, reputable and some nationally recognized tenants to include:
• TJ Carneys Restaurant/Bar & Entertainment
• Kilwin’s Chocolate & Ice Cream Shoppe
• Made In Italy Italian Restaurant & Bar
• Bushido Sushi Restaurant
• Dana Tyler Jewelry
• Captains Landing Clothing
Complete tenant base includes 16 commercial tenants and 15 residential tenants.
El Patio Hotel: One of the properties is the El Patio Hotel, that once operated as a famous hotel back in the 1920’s. Today it houses 15 residential tenants but an option for a new owner would be to re-establish the hotel business.
Seller Financing: Offered to qualified purchasers. Interest Rate and Terms are TBD
The properties included in this portfolio are fully leased with long-term, reputable and some nationally recognized tenants to include:
• TJ Carneys Restaurant/Bar & Entertainment
• Kilwin’s Chocolate & Ice Cream Shoppe
• Made In Italy Italian Restaurant & Bar
• Bushido Sushi Restaurant
• Dana Tyler Jewelry
• Captains Landing Clothing
Complete tenant base includes 16 commercial tenants and 15 residential tenants.
El Patio Hotel: One of the properties is the El Patio Hotel, that once operated as a famous hotel back in the 1920’s. Today it houses 15 residential tenants but an option for a new owner would be to re-establish the hotel business.
Seller Financing: Offered to qualified purchasers. Interest Rate and Terms are TBD
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Building Size
25,000 SF
Building Class
C
Year Built
1927
Price
$17,500,000
Price Per SF
$700
Cap Rate
5.05%
NOI
$883,013
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.45
Lot Size
0.40 AC
Zoning
CBD
Very walkable
80/100
Exceptionally drivable
90/100
Limited public transit
20/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0408-04-0054 | Improvements Assessment | $2,222,200 |
| Land Assessment | $1,140,900 | Total Assessment | $3,363,100 |
Property Taxes
Parcel Number
0408-04-0054
Land Assessment
$1,140,900
Improvements Assessment
$2,222,200
Total Assessment
$3,363,100
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Commercial Portfolio! Seller Financing! | 229 W Venice Ave
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