Gated Self-Storage
For Sale
$1,400,000
16331 CORTEZ BLVD, Brooksville, FL 34601
Self-storage property with two buildings, a manager apartment, office space, and outdoor RV and boat storage.
Property Size13,200 SF
Lot Size1.38 Acres
Price / SF$103.70
Days on Market105
Property Features for 16331 CORTEZ BLVD
General Information
Standard status
Active
Size
13,200 SF
Lot size
1.38 Acres
Property subtype
Warehouse
Zoning
C2
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Business Included
Yes
Self-Storage Units
94
Taxes and HOA fees
Annual Taxes
$11,791
Building Details
Building Size
13,200 SF
Year Built
1985
Buildings
2
Listing Agency:
HOME LAND REAL ESTATE INC
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Source:
Kingofrealestate
Added: May 28
Changed: Sep 8
Last Checked: Sep 8 at 11:53AM
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 HOME LAND REAL ESTATE INC
Investment Insights
Based on property information with market context.
This self-storage operation includes the real estate and business, with 94 storage units across two buildings. The property also provides outdoor RV and boat storage, a large office, and additional commercial rental space that is currently occupied. A two-bedroom, one-bathroom apartment is available for an on-site manager. The improvements were built in 1985 and have been freshly painted and updated.
Security features include perimeter fencing and gated access. The site is zoned C2 and records an Average Annual Daily Traffic Count of 17,500. Its location near the Suncoast Parkway places the facility within an established transportation corridor.
Security features include perimeter fencing and gated access. The site is zoned C2 and records an Average Annual Daily Traffic Count of 17,500. Its location near the Suncoast Parkway places the facility within an established transportation corridor.
Key Highlights
- 94‑unit self‑storage operation with the real property and business included
- Two‑bedroom, one‑bathroom manager apartment
- Outdoor RV and boat storage available on site
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
$125,194
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
8.94%
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%
$2,503,880
$2.5M
Cap Rate 7%
$1,788,486
$1.8M
Cap Rate 9%
$1,391,044
$1.4M
Market Conditions
NOI Build-Up for 13,500 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
$194.4K $14.40/SF
− Vacancy
−$15.6K −$1.15/SF
EGI
$178.8K $13.25/SF
− OpEx
−$53.7K −$3.97/SF
NOI
$125.2K $9.27/SF
Area
Pasco County, FL
Vacancy
8.00%
Lease Rate
$14.40 /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%
$2,503,880
Cap Rate 7%
$1,788,486
Cap Rate 9%
$1,391,044
Alternative Uses
Best Use
Warehouse
$1.88M
$1.64M – $2.19M
NOI $131,532 @ 7.0% cap · market cap 9.40%
Second Best
Self Storage
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 8.94%
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,266 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 34601, FL
23,001
Population
12,276
Households
1.9
Avg Household Size
50
Median Age
20%
College-Educated
88%
High-School Grad
114.0 sq mi
ZIP Area
202
Density / Sq Mi
$56,365
Median Household Income
$35,182
Median Earnings
$1,066
Median Rent
$151,500
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.
Frequently Asked Questions
What type of property is this?
Self storage facility - Self-storage property with two buildings, a manager apartment, office space, and outdoor RV and boat storage.
Where is this self storage facility located?
The property is located at 16331 CORTEZ BLVD Brooksville, FL.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 94‑unit self‑storage operation with the real property and business included; Two‑bedroom, one‑bathroom manager apartment; Outdoor RV and boat storage available on site
