Building Details

Year Built 1986

Listing Agency: TALL PINES REALTY Show Phone

Listed By: JEREMY JONES · License #995712552 Show Phone

Source: Corcoran

Added: Nov 20, 2024 Changed: Aug 14 Last Checked: Aug 25 at 4:31AM

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Investment Insights

Based on property information with market context.

This 1200 sq ft warehouse condo, zoned Industrial General, is located in the central area of Englewood, providing access to Winchester, San Casa, Placida Rd, SR 776, CR 775, and Hwy 41. The commercial unit features a reception area, a coffee bar, three offices, a storage area, and a private bathroom, with the potential for up to five offices. The interior is designed for offices and storage, and the partition wall behind the roll-up door is removable. A new metal roof was installed on the entire building in 2023. The quarterly HOA fees are $800, covering lawn care, insurance, trash removal, electric, water, and rebuilding up the reserve. Each condo unit is responsible for its own FPL bill, which is approximately $100 per month.

Key Highlights

• 1200 sq ft warehouse condo zoned Industrial General in a central Englewood location
• Swift access to major roads: Winchester, San Casa, Placida Rd, SR 776, CR 775, and Hwy 41
• Low maintenance: HOA fees include lawn care, insurance, trash removal, electric, water, and reserve rebuilding

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,261

Cap Rate

6.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$225,220 $225.2K

Cap Rate 7%

$160,871 $160.9K

Cap Rate 9%

$125,122 $125.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,200 SF

Gross rent

$14.4K $12.00/SF

− Vacancy

−$1.2K −$0.96/SF

EGI

$13.2K $11.04/SF

− OpEx

−$2.0K −$1.66/SF

NOI

$11.3K $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 Rate 5%

$225,220

Cap Rate 7%

$160,871

Cap Rate 9%

$125,122

Alternative Uses

Best Use

Warehouse

$160.9K

$140.8K – $187.7K (±1% cap)

NOI $11,261 @ 7.0% cap · market cap 6.63%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$392.9K

$343.8K – $458.4K (±1% cap)

NOI $27,504 @ 7.0% cap · market cap 16.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Restaurant Pharmacy Auto Parts Store Building Supply Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

126

Businesses Nearby

Under-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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - 1200 sq ft warehouse condo in central Englewood.

Where is this warehouse located?

The property is located at 2730 WORTH AVENUE #8 Englewood, FL.

What is the asking price?

The asking price for this property is $169,900.

What are key features of this property?

This property features: 1200 sq ft warehouse condo zoned Industrial General in a central Englewood location; Swift access to major roads: Winchester, San Casa, Placida Rd, SR 776, CR 775, and Hwy 41; Low maintenance: HOA fees include lawn care, insurance, trash removal, electric, water, and reserve rebuilding