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Great Investment or live/work property near the intersection of East Venice Ave and Rt 41 Bypass. Directly across the street from Bogey's Restaurant and Sports Pub. Retail space on the ground floor and 2 one bedroom apartments on the second floor. All fully rented. Annual Gross Income- $28,200; Annual Expenses- $5,000; Annual NOI- $23,200 At rear of property is the lovely Ruscelletto Park and the newly-constructed Venetian Walk senior Apartment Homes (61 units in Phase I). - Parking description: 4 Designated spaces in rear of building, plus on-street parking in front of building. - Area description: Just moments to the Isle of Venice or to I-75 - Number of buildings: 1 - Building condition: Good - Tenancy: Multiple Tenants
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The typical asking rate per listing is in the $10's per square foot per year. The Venice submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $3 per sqft per year. That's a 14% decline in rent.
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