Garage Condo Storage
For Sale
$199,999
Pending
2720 PLACIDA Rd 7, Englewood, FL 34224
Concrete-block, panel-roof garage condo with 16' ceilings, mini-split AC, and a power garage door.
Property Size1,000 SF
Days on Market13
Property Features for 2720 PLACIDA Rd 7
General Information
Standard status
Pending
Size
1,000 SF
Property subtype
Industrial
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Taxes and HOA fees
Annual Taxes
$2,940
Amenities
mini split AC unit
power garage door
Building Details
Building Size
1,000 SF
Year Built
2024
Construction
concrete block
Listing Agency:
ISLAND BREEZE REAL ESTATE
(941) 979-0222
Listed By:
Rick Lake · License #3247360
(941) 979-0222
Source:
Elliman
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 3 at 8:21AM
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 ISLAND BREEZE REAL ESTATE
Investment Insights
Based on property information with market context.
This garage condo storage unit offers a sturdy, secured build with concrete block walls and concrete roof panels. The space measures 20' x 50' with 16' high ceilings, providing additional vertical room for storage or workspace needs. The unit has been upgraded with a mini-split AC system and includes a power garage door for convenient access.
Located at 2720 Placida Rd in Englewood, Florida, the unit is suited for users looking for a dedicated storage garage format in a car-dependent setting.
With its clear, rectangular interior and practical door access, the layout is designed to support flexible storage use within a construction-forward, climate-assisted environment.
Located at 2720 Placida Rd in Englewood, Florida, the unit is suited for users looking for a dedicated storage garage format in a car-dependent setting.
With its clear, rectangular interior and practical door access, the layout is designed to support flexible storage use within a construction-forward, climate-assisted environment.
Key Highlights
- 2024‑built garage condo with concrete‑block walls and concrete roof panels
- 20' x 50' unit with 16' high ceilings
- Upgraded with a mini‑split AC unit
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
$10,210
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
5.11%
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%
$204,200
$204.2K
Cap Rate 7%
$145,857
$145.9K
Cap Rate 9%
$113,444
$113.4K
Market Conditions
NOI Build-Up for 1,000 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
$15.6K $15.60/SF
− Vacancy
−$1.0K −$1.01/SF
EGI
$14.6K $14.59/SF
− OpEx
−$4.4K −$4.38/SF
NOI
$10.2K $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%
$204,200
Cap Rate 7%
$145,857
Cap Rate 9%
$113,444
Alternative Uses
Best Use
Self Storage
$145.9K
$127.6K – $170.2K
NOI $10,210 @ 7.0% cap · market cap 5.11%
Second Best
Warehouse
$134.1K
$117.3K – $156.4K
NOI $9,384 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$327.4K
$286.5K – $382.0K
NOI $22,920 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
211
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
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Frequently Asked Questions
What type of property is this?
Self storage facility - Concrete-block, panel-roof garage condo with 16' ceilings, mini-split AC, and a power garage door.
Where is this self storage facility located?
The property is located at 2720 PLACIDA Rd 7 Englewood, FL.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: 2024‑built garage condo with concrete‑block walls and concrete roof panels; 20' x 50' unit with 16' high ceilings; Upgraded with a mini‑split AC unit
