Warehouse Garage
For Sale
$199,999
Pending
2720 Placida Rd Unit 7, Englewood, FL 34224
Concrete construction, mini-split air conditioning, and a powered garage door support secure enclosed storage.
Property Size1,000 SF
Days on Market38
Property Features for 2720 Placida Rd Unit 7
General Information
Standard status
Pending
Size
1,000 SF
Warehouse & Industrial
Clear Height
16 ft
Drive-In Doors
1
Amenities
mini split AC unit
Building Details
Year Built
2024
Construction
concrete block
Listing Agency:
ISLAND BREEZE REAL ESTATE
(941) 979-0222
Listed By:
Rick Lake · License #3247360
Source:
Chenoregroup
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 30 at 8:39PM
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 2024 warehouse garage condo provides 1,000 square feet within a 20-by-50-foot unit. The space features 16-foot ceilings, concrete block walls, and concrete roof panels. A mini-split AC system has been added, and the garage is equipped with a powered door.
The property is identified as Unit 7 at 2720 Placida Rd in Englewood, Florida. Its enclosed configuration and dedicated garage access provide a straightforward format for storage or other uses consistent with the property’s warehouse classification.
The property is identified as Unit 7 at 2720 Placida Rd in Englewood, Florida. Its enclosed configuration and dedicated garage access provide a straightforward format for storage or other uses consistent with the property’s warehouse classification.
Key Highlights
- 1,000 SF warehouse garage condo
- 20' x 50' unit configuration
- 16' high ceilings
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
$9,384
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
4.69%
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%
$187,680
$187.7K
Cap Rate 7%
$134,057
$134.1K
Cap Rate 9%
$104,267
$104.3K
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
$12.0K $12.00/SF
− Vacancy
−$960 −$0.96/SF
EGI
$11.0K $11.04/SF
− OpEx
−$1.7K −$1.66/SF
NOI
$9.4K $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%
$187,680
Cap Rate 7%
$134,057
Cap Rate 9%
$104,267
Alternative Uses
Best Use
Warehouse
$134.1K
$117.3K – $156.4K
NOI $9,384 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
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
Property Profile
Current Use
Lease Details
16 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Well-served
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.
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- All Steel Storage Englewood — 1985 Wyoming Ave, Englewood, FL 34224
Frequently Asked Questions
What type of property is this?
Warehouse - Concrete construction, mini-split air conditioning, and a powered garage door support secure enclosed storage.
Where is this warehouse located?
The property is located at 2720 Placida Rd Unit 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: 1,000 SF warehouse garage condo; 20' x 50' unit configuration; 16' high ceilings
