Self-Storage Facility With Manager
For Sale
$1,400,000
16331 CORTEZ Boulevard, Brooksville, FL 34601
Commercial Sale, BROOKSVILLE, FL
Property Size13,200 SF
Lot Size1.38 Acres
Price / SF$106.06
Days on Market90
Property Features for 16331 CORTEZ Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Subdivision
HIGHLAND ACRES
Lot features
Paved
Directions
US 19 (Commercial Way) turn onto US 50 (Cortez Blvd) go past the on ramp for 589, building is on the left.
Standard status
Active
APN
R25-222-18-2450-00C0-0300
Size
13,200 SF
Lot size
1.38 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
HIGHLAND ACRES UNIT 1 BLK C LOT 30
Tax Annual Amount
11791
Legal Description
HIGHLAND ACRES UNIT 1 BLK C LOT 30
Utilities
Utilities
Electricity Available
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
2
Flooring type
Vinyl
Building materials
Block, Stucco
Roof type
Metal
Additional Structures
Workshop
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 556-0909
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Added: May 28
Changed: Aug 24
Last Checked: Aug 25 at 7:06AM
MLS# W7885782
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This self-storage property includes the real estate and operating business, with two buildings containing 94 storage units. The site also has a full apartment for a live-in manager with two bedrooms and one bathroom, along with a large office and additional commercial rental space that is currently occupied. Two rows of storage units can be air-conditioned, and outside areas accommodate RV and boat storage.
Located at 16331 Cortez Boulevard in Brooksville, the property is zoned C2 and records an Average Annual Daily Traffic Count of 17,500. It is near the Suncoast Parkway. The improvements were built in 1985 and feature block and stucco construction, vinyl flooring, central air, central and electric heat, a metal roof, available electricity, and gated, fenced grounds. Fresh paint and updates have been completed.
Located at 16331 Cortez Boulevard in Brooksville, the property is zoned C2 and records an Average Annual Daily Traffic Count of 17,500. It is near the Suncoast Parkway. The improvements were built in 1985 and feature block and stucco construction, vinyl flooring, central air, central and electric heat, a metal roof, available electricity, and gated, fenced grounds. Fresh paint and updates have been completed.
Key Highlights
- 94 storage units plus outside RV and boat storage
- Full manager apartment with 2 bedrooms and 1 bathroom
- Two buildings with additional commercial rental space currently rented
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
$128,609
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
9.19%
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%
$2,572,180
$2.6M
Cap Rate 7%
$1,837,271
$1.8M
Cap Rate 9%
$1,428,989
$1.4M
Market Conditions
NOI Build-Up for 13,200 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
$165.0K $12.50/SF
− Vacancy
−$13.7K −$1.04/SF
EGI
$151.3K $11.46/SF
− OpEx
−$22.7K −$1.72/SF
NOI
$128.6K $9.74/SF
Area
Pasco County, FL
Vacancy
8.30%
Lease Rate
$12.50 /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%
$2,572,180
Cap Rate 7%
$1,837,271
Cap Rate 9%
$1,428,989
Alternative Uses
Best Use
Warehouse
$1.84M
$1.61M – $2.14M
NOI $128,609 @ 7.0% cap · market cap 9.19%
Second Best
Self Storage
$1.75M
$1.53M – $2.04M
NOI $122,412 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,482 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Fenced yard
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Self storage facility - Gated and fenced storage property with an on-site apartment, office, additional rental space, and RV and boat storage.
Where is this self storage facility located?
The property is located at 16331 CORTEZ Boulevard 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 storage units plus outside RV and boat storage; Full manager apartment with 2 bedrooms and 1 bathroom; Two buildings with additional commercial rental space currently rented
