Third-Floor Office Condo
For Sale
$175,525
3f-1460 S Mccall Rd, Englewood, FL 34223
Open-layout office condo with elevator access and private storage garage space.
Property Size1,003 SF
Price / SF$175
Days on Market1183
Property Features for 3f-1460 S Mccall Rd
General Information
Standard status
Active
Size
1,003 SF
Taxes and HOA fees
Annual Taxes
$1,054
Listing Agency:
COLDWELL BANKER REALTY
(941) 268-4423
Listed By:
Kayla Weiss-Bohnstedt · License #3370154
(941) 268-4423
Source:
Exprealty
Added: May 31, 2023
Changed: Aug 21
Last Checked: Aug 25 at 11:01AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This third-floor office condo unit offers an open layout floor plan designed for flexible workspace planning. The property includes elevator access for convenient building entry. Association updates are underway, with insurance replacing ceiling tiles and fixing the restroom. The unit also includes a garage space for storage.
The office condo is part of a building where the association provides signage, noted at 776 in the remarks. The unit is identified as 3f-1460 S Mccall Rd, Englewood, FL.
For tenants, buyers, and owner-operators, the open layout can support a range of office uses where flexible configuration is important. Elevator service and the included storage garage space add day-to-day practicality, while the upcoming ceiling and restroom updates help standardize the interior environment within the unit.
The office condo is part of a building where the association provides signage, noted at 776 in the remarks. The unit is identified as 3f-1460 S Mccall Rd, Englewood, FL.
For tenants, buyers, and owner-operators, the open layout can support a range of office uses where flexible configuration is important. Elevator service and the included storage garage space add day-to-day practicality, while the upcoming ceiling and restroom updates help standardize the interior environment within the unit.
Key Highlights
- 1,003 SF condo unit on the 3rd floor with an open‑layout floor plan
- Elevator access for the unit
- Association insurance will replace ceiling tiles and fix the restroom
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
$12,414
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
7.07%
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%
$248,280
$248.3K
Cap Rate 7%
$177,343
$177.3K
Cap Rate 9%
$137,933
$137.9K
Market Conditions
NOI Build-Up for 1,003 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
$21.7K $21.60/SF
− Vacancy
−$5.1K −$5.10/SF
EGI
$16.6K $16.50/SF
− OpEx
−$4.1K −$4.13/SF
NOI
$12.4K $12.38/SF
Area
Charlotte County, FL
Vacancy
23.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$248,280
Cap Rate 7%
$177,343
Cap Rate 9%
$137,933
Alternative Uses
Best Use
Office B
$177.3K
$155.2K – $206.9K
NOI $12,414 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$328.4K
$287.4K – $383.2K
NOI $22,989 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 34223, FL
19,118
Population
14,484
Households
1.3
Avg Household Size
66
Median Age
39%
College-Educated
96%
High-School Grad
41.9 sq mi
ZIP Area
456
Density / Sq Mi
$70,155
Median Household Income
$39,486
Median Earnings
$1,288
Median Rent
$358,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Open-layout office condo with elevator access and private storage garage space.
Where is this office units located?
The property is located at 3f-1460 S Mccall Rd Englewood, FL.
What is the asking price?
The asking price for this property is $175,525.
What are key features of this property?
This property features: 1,003 SF condo unit on the 3rd floor with an open‑layout floor plan; Elevator access for the unit; Association insurance will replace ceiling tiles and fix the restroom
