Warehouse Condo with Removable
For Sale
$169,900
8-2730 Worth Ave, Englewood, FL 34224
Warehouse condo with reception, offices, storage, and a removable partition wall behind a roll-up door.
Property Size1,200 SF
Price / SF$141.58
Days on Market656
Property Features for 8-2730 Worth Ave
General Information
Standard status
Active
Size
1,200 SF
Zoning
Industrial Genera
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,050
Amenities
reception area
coffee bar
three offices
storage area
private bathroom
Building Details
Tenancy
Multi
Listing Agency:
tall pines realty
Listed By:
Jeremy Jones · License #995712552
(941) 475-5015
Source:
Exprealty
Added: Nov 20, 2024
Changed: Sep 3
Last Checked: Sep 6 at 12:58PM
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 tall pines realty
Investment Insights
Based on property information with market context.
This warehouse condo offers 1,200 square feet configured for office and storage use, including a reception area, a coffee bar, three offices, and a separate storage area. The unit also features a private bathroom and a partitioned layout that can support additional office space, with the partition wall behind the roll-up door noted as removable.
The property is zoned Industrial Genera and located in Englewood’s central area, providing quick access to Winchester, San Casa, Placida Rd, SR 776, CR 775, and Hwy 41. The building received a new metal roof in 2023.
HOA is $800 quarterly and includes lawn care, insurance, trash removal, electric, water, and reserve rebuilding. Each condo unit is responsible for its own FPL bill, which is approximately $100 per month.
The property is zoned Industrial Genera and located in Englewood’s central area, providing quick access to Winchester, San Casa, Placida Rd, SR 776, CR 775, and Hwy 41. The building received a new metal roof in 2023.
HOA is $800 quarterly and includes lawn care, insurance, trash removal, electric, water, and reserve rebuilding. Each condo unit is responsible for its own FPL bill, which is approximately $100 per month.
Key Highlights
- Warehouse condo zoned Industrial Genera with 1,200 sq ft (24x50) of space
- Interior includes a reception area, coffee bar, three offices, storage, and private bathroom (partition behind roll‑up door is removable)
- Floorplan can support flexible office layouts, with potential for up to five offices
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
$11,261
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
6.63%
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%
$225,220
$225.2K
Cap Rate 7%
$160,871
$160.9K
Cap Rate 9%
$125,122
$125.1K
Market Conditions
NOI Build-Up for 1,200 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
$14.4K $12.00/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$13.2K $11.04/SF
− OpEx
−$2.0K −$1.66/SF
NOI
$11.3K $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%
$225,220
Cap Rate 7%
$160,871
Cap Rate 9%
$125,122
Alternative Uses
Best Use
Warehouse
$160.9K
$140.8K – $187.7K
NOI $11,261 @ 7.0% cap · market cap 6.63%
Second Best
Flex RnD
$152.9K
$133.8K – $178.4K
NOI $10,706 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$392.9K
$343.8K – $458.4K
NOI $27,504 @ 7.0% cap · market cap 16.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Balanced
Demand for This Use
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?
Flex space - Warehouse condo with reception, offices, storage, and a removable partition wall behind a roll-up door.
Where is this flex space located?
The property is located at 8-2730 Worth Ave Englewood, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Warehouse condo zoned Industrial Genera with 1,200 sq ft (24x50) of space; Interior includes a reception area, coffee bar, three offices, storage, and private bathroom (partition behind roll‑up door is removable); Floorplan can support flexible office layouts, with potential for up to five offices
