Gated Mini-Storage with RV
For Sale
$1,400,000
16331 CORTEZ BOULEVARD, Brooksville, FL 34601
Gated, fenced mini-storage property with 94 indoor units plus outside RV/boat storage and an on-site manager apartment.
Property Size13,200 SF
Lot Size1.38 Acres
Price / SF$103.70
Days on Market89
Property Features for 16331 CORTEZ BOULEVARD
General Information
Standard status
Active
Size
13,200 SF
Lot size
1.38 Acres
Property subtype
Commercial
Zoning
C2
Site & Location
Traffic Count
17,500 vehicles/day
Fenced Yard
Yes
Units
Multifamily Units
1
Office Units
1
Taxes and HOA fees
Annual Taxes
$11,791
Building Details
Building Size
13,200 SF
Year Built
1985
Listing Agency:
HOME LAND REAL ESTATE INC
(352) 279-1150
Listed By:
Kimberly Pye, PA · License #3315876
(352) 279-1150
Source:
Mbifloridarealty
Added: May 28
Changed: Aug 23
Last Checked: Aug 23 at 5:37AM
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 HOME LAND REAL ESTATE INC
Investment Insights
Based on property information with market context.
This for-sale mini-storage property includes 1.38 acres with two large buildings totaling 13,500 square feet, along with an established business operation. The site offers 94 storage units and includes outside RV/boat storage. On-site improvements include freshly painted and updated facilities, with the property secured by gated and fenced access. A large office and additional commercial rental space are also included, with the commercial rental space currently rented. For on-site oversight, the property includes a full apartment for a live-in manager with two bedrooms and one bathroom.
Located on Cortez Blvd in Brooksville, Florida, the site is zoned C2. The property reports an average annual daily traffic count of 17,500 and is close to the Suncoast Parkway, supporting drive-by visibility for storage customers.
For a buyer or operator seeking an operationally managed storage business, the unit count, outside RV/boat storage, and dedicated office space create a straightforward mix of offerings. The presence of a live-in manager apartment can support day-to-day site administration. The current setup also indicates a reliance on consistent management, since the business is described as not being leased to full potential without a full-time manager and marketing support.
Located on Cortez Blvd in Brooksville, Florida, the site is zoned C2. The property reports an average annual daily traffic count of 17,500 and is close to the Suncoast Parkway, supporting drive-by visibility for storage customers.
For a buyer or operator seeking an operationally managed storage business, the unit count, outside RV/boat storage, and dedicated office space create a straightforward mix of offerings. The presence of a live-in manager apartment can support day-to-day site administration. The current setup also indicates a reliance on consistent management, since the business is described as not being leased to full potential without a full-time manager and marketing support.
Key Highlights
- Mini‑storage on 1.38 acres with two large buildings totaling 13,500 SF
- 94 indoor storage units plus outside RV/boat storage for additional income
- On‑site 2‑bedroom, 1‑bath apartment for a live‑in manager
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
Self Storage
$1.79M
$1.56M – $2.09M
NOI $125,194 @ 7.0% cap · market cap 8.94%
Second Best
Industrial
$1.55M
$1.35M – $1.81M
NOI $108,321 @ 7.0% cap · market cap 7.74%
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
1
Office units
1
Residential units
17,500 VPD
Traffic count
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 Office 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 - Gated, fenced mini-storage property with 94 indoor units plus outside RV/boat storage and an on-site manager apartment.
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: Mini‑storage on 1.38 acres with two large buildings totaling 13,500 SF; 94 indoor storage units plus outside RV/boat storage for additional income; On‑site 2‑bedroom, 1‑bath apartment for a live‑in manager
