Flex Space with Covered
For Sale
$1,100,000
2900 Placida Rd, Englewood, FL 34224
CG-zoned commercial property with flexible warehouse, service, contractor, and retail use potential along Placida Road.
Property Size9,765 SF
Lot Size1.48 Acres
Price / SF$112.65
Days on Market32
Property Features for 2900 Placida Rd
General Information
Standard status
Active
Size
9,765 SF
Lot size
1.48 Acres
Zoning
CG
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Conditioned Warehouse
Yes
Building Details
Year Built
1996
Listing Agency:
WAGNER REALTY
(941) 773-9184
Listed By:
Ryan Hoffman · License #3051574
Source:
Exciterealtyflorida
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 3:00PM
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 WAGNER REALTY
Investment Insights
Based on property information with market context.
This flex property includes approximately 5,700 SF under air and approximately 3,600 SF of covered space on ±1.48 acres. Constructed in 1996, the property is zoned CG (Commercial General), supporting a broad range of commercial applications described for contractor, warehouse, service, and retail users.
The site fronts Placida Rd (SR 775) and offers access to SR 776, connecting the property with the surrounding Englewood and Port Charlotte markets. The combination of enclosed and covered areas provides a practical configuration for commercial operations requiring building space and outdoor coverage.
The site fronts Placida Rd (SR 775) and offers access to SR 776, connecting the property with the surrounding Englewood and Port Charlotte markets. The combination of enclosed and covered areas provides a practical configuration for commercial operations requiring building space and outdoor coverage.
Key Highlights
- ±5,700 SF under air
- ±3,600 SF of covered space
- ±1.48 acres
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
$91,635
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
8.33%
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%
$1,832,700
$1.8M
Cap Rate 7%
$1,309,071
$1.3M
Cap Rate 9%
$1,018,167
$1.0M
Market Conditions
NOI Build-Up for 9,765 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
$117.2K $12.00/SF
− Vacancy
−$9.4K −$0.96/SF
EGI
$107.8K $11.04/SF
− OpEx
−$16.2K −$1.66/SF
NOI
$91.6K $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%
$1,832,700
Cap Rate 7%
$1,309,071
Cap Rate 9%
$1,018,167
Alternative Uses
Best Use
Warehouse
$1.31M
$1.15M – $1.53M
NOI $91,635 @ 7.0% cap · market cap 8.33%
Second Best
Flex RnD
$1.24M
$1.09M – $1.45M
NOI $87,116 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $223,814 @ 7.0% cap · market cap 20.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
233
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
Questions? Ask Rey
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Similar Off Market Nearby
- Lighthouse Grill Catering — 260 Maryland Ave, Englewood, FL 34224
Frequently Asked Questions
What type of property is this?
Flex space - CG-zoned commercial property with flexible warehouse, service, contractor, and retail use potential along Placida Road.
Where is this flex space located?
The property is located at 2900 Placida Rd Englewood, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: ±5,700 SF under air; ±3,600 SF of covered space; ±1.48 acres
