Storage Building on Clear
For Sale
$449,950
Pending
2860 SCENIC VIEW DRIVE, Punta Gorda, FL 33950
Nearly 3,000-sf storage building sits on 2.4 acres of flat, cleared land with utilities available in the area.
Property Size3,000 SF
Lot Size2.40 Acres
Days on Market563
Property Features for 2860 SCENIC VIEW DRIVE
General Information
Standard status
Pending
Size
3,000 SF
Lot size
2.40 Acres
Property subtype
Lots/Land
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,093
Listing Agency:
REALTY ONE GROUP MVP
(800) 896-8790
Listed By:
Greg Parkinson · License #3301941
(800) 896-8790
Source:
Exitrealty
Added: Feb 5, 2025
Changed: Aug 14
Last Checked: Aug 14 at 7:37AM
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 REALTY ONE GROUP MVP
Investment Insights
Based on property information with market context.
This property combines a nearly 3,000-square-foot storage building with 2.4 acres of flat, clear land. The building is currently designed as a large storage space and includes high ceilings, large garage doors, and an ample open interior area that may support a variety of storage and conversion possibilities.
The site is described as being not far from I-75 in Punta Gorda, Florida, and the surrounding land is positioned in a semi-rural setting. The land is zoned to allow for the construction of a home, and utilities are available in the area, with potential buyers encouraged to inquire about connections to water, sewer, and electricity.
For buyers looking for flexibility, the layout provides an existing outbuilding plus development-ready acreage, with a solid structure intended to allow modifications for multiple uses.
The site is described as being not far from I-75 in Punta Gorda, Florida, and the surrounding land is positioned in a semi-rural setting. The land is zoned to allow for the construction of a home, and utilities are available in the area, with potential buyers encouraged to inquire about connections to water, sewer, and electricity.
For buyers looking for flexibility, the layout provides an existing outbuilding plus development-ready acreage, with a solid structure intended to allow modifications for multiple uses.
Key Highlights
- Nearly 3,000 sq ft storage building on 2.4 acres of flat, cleared land
- Large open storage building with high ceilings and large garage doors
- Land is zoned to allow construction of a home
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
$28,152
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
6.26%
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%
$563,040
$563.0K
Cap Rate 7%
$402,171
$402.2K
Cap Rate 9%
$312,800
$312.8K
Market Conditions
NOI Build-Up for 3,000 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
$36.0K $12.00/SF
− Vacancy
−$2.9K −$0.96/SF
EGI
$33.1K $11.04/SF
− OpEx
−$5.0K −$1.66/SF
NOI
$28.2K $9.38/SF
Area
Charlotte County, FL
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
15.00%
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%
$563,040
Cap Rate 7%
$402,171
Cap Rate 9%
$312,800
Alternative Uses
Best Use
Warehouse
$402.2K
$351.9K – $469.2K
NOI $28,152 @ 7.0% cap · market cap 6.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$982.3K
$859.5K – $1.15M
NOI $68,760 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 33950, FL
24,984
Population
16,748
Households
1.5
Avg Household Size
66
Median Age
36%
College-Educated
95%
High-School Grad
17.8 sq mi
ZIP Area
1,404
Density / Sq Mi
$74,484
Median Household Income
$46,032
Median Earnings
$1,192
Median Rent
$393,500
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.
Similar Off Market Nearby
- StoragePUP of Punta Gorda — 3701 Taylor Rd, Punta Gorda, FL 33950
Frequently Asked Questions
What type of property is this?
Warehouse - Nearly 3,000-sf storage building sits on 2.4 acres of flat, cleared land with utilities available in the area.
Where is this warehouse located?
The property is located at 2860 SCENIC VIEW DRIVE Punta Gorda, FL.
What is the asking price?
The asking price for this property is $449,950.
What are key features of this property?
This property features: Nearly 3,000 sq ft storage building on 2.4 acres of flat, cleared land; Large open storage building with high ceilings and large garage doors; Land is zoned to allow construction of a home
