Two large commercial parcels in downtown Venice are on the market as the owners seek new investments. Reports indicate interest in downtown properties is booming with retail stores being snapped up within hours by enthusiastic new and existing businesspeople.
The 27,000-square-foot El Patio Motor Hotel complex, a multi-tenant retail building in the prime 200 block of West Venice Avenue, is being marketed at $3.3 million. Since acquiring the whole parcel 14 months ago, David Macrea of Casey Key has converted the second-floor hotel into 12 one-bedroom and two two-bedroom apartments. The retail portion includes five stores and TJ Carney’s.
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