Prime Corner Commercial Property
For Sale
$2,500,000
2931 Placida Rd, Englewood, FL 34224
Corner property ideal for gas station, storage, or hotel.
Property Size20,940 SF
Lot Size0.72 Acres
Price / SF$119.39
Days on Market180
Property Features for 2931 Placida Rd
General Information
Standard status
Active
Size
20,940 SF
Lot size
0.72 Acres
Building Details
Year Built
2024
Listing Agency:
BRIGHT REALTY
Listed By:
Virginia Fey · License #3367446
(941) 587-9772
Source:
Susannelosso
Added: Mar 12
Changed: Sep 6
Last Checked: Sep 6 at 12:00PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BRIGHT REALTY
Investment Insights
Based on property information with market context.
Located at the intersection of San Casa Drive and Placida Road, this property features two commercial lots and an additional parcel zoned for multifamily use. The site totals 0.72 acres. The location offers exceptional visibility and accessibility, situated at a signalized intersection with high traffic volume. This property is suitable for various commercial ventures, including a gas station, storage units, boat yard, hotel, or financial services. This is one of the last available commercial properties on Placida Road.
Key Highlights
- Prime corner property at the intersection of San Casa Drive and Placida Road.
- Zoned for diverse commercial ventures including gas station, storage units, boat yard, hotel, and financial services.
- High visibility and accessibility at a signalized intersection with high traffic volume.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$213,802
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,276,040
$4.3M
Cap Rate 7%
$3,054,314
$3.1M
Cap Rate 9%
$2,375,578
$2.4M
Market Conditions
NOI Build-Up for 20,940 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$326.7K $15.60/SF
− Vacancy
−$21.2K −$1.01/SF
EGI
$305.4K $14.59/SF
− OpEx
−$91.6K −$4.38/SF
NOI
$213.8K $10.21/SF
Area
Charlotte County, FL
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,276,040
Cap Rate 7%
$3,054,314
Cap Rate 9%
$2,375,578
Alternative Uses
Best Use
Retail
$5.32M
$4.66M – $6.21M
NOI $372,500 @ 7.0% cap · market cap 14.90%
Second Best
Specialty Retail
$4.00M
$3.50M – $4.67M
NOI $279,901 @ 7.0% cap · market cap 11.20%
Theoretical Best
Office A
$6.86M
$6.00M – $8.00M
NOI $479,945 @ 7.0% cap · market cap 19.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
Explore this area
Business Placement
Demographics for 34224, FL
16,379
Population
11,333
Households
1.4
Avg Household Size
63
Median Age
21%
College-Educated
94%
High-School Grad
12.8 sq mi
ZIP Area
1,280
Density / Sq Mi
$56,862
Median Household Income
$34,450
Median Earnings
$1,219
Median Rent
$262,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Corner property ideal for gas station, storage, or hotel.
Where is this commercial land located?
The property is located at 2931 Placida Rd Englewood, FL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Prime corner property at the intersection of San Casa Drive and Placida Road.; Zoned for diverse commercial ventures including gas station, storage units, boat yard, hotel, and financial services.; High visibility and accessibility at a signalized intersection with high traffic volume.
