Storage Condo in Rotonda
For Sale
$267,000
41 Chardon Rd Unit G8, Placida, FL 33981
Non-Residential Storage Condo
Property Size1,248 SF
Price / SF$213.94
Days on Market229
Property Features for 41 Chardon Rd Unit G8
General Information
Standard status
Active
Property type
Parking lots & garages, Automotive properties
Size
1,248 SF
Net Rentable
1,248 SF
Investment Type
Owner User
Building Details
Year Built
2024
Stories
1
Units
1
Listed By:
Terrence Tracy
(330) 357-1225
Added: Jan 23
Changed: Mar 16
Investment Insights
Based on property information with market context.
This non-residential storage condo, located in Rotonda West, Florida, offers a secure and private storage solution. The unit measures 24 feet by 52 feet with a height of 16 feet, providing ample space for multiple vehicles, including cars, RVs, boats, and trailers. Constructed with solid concrete walls and a roof, the unit is fireproof. It features climate control, LED lighting, ceiling fans, multiple outlets along the walls, a 50 AMP outlet, WIFI service, a convenient dumpster, a utility sink on the back wall, and a water spigot at the entrance. The flooring is epoxy. The upgraded garage door includes windows and a remote, while the man door is keyless. The area is fully fenced with remote entry gates, fully paved with a large turning radius, and monitored by cameras. Access is facilitated by side roads for easy entry and exit.
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
$9,645
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
3.61%
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%
$192,900
$192.9K
Cap Rate 7%
$137,786
$137.8K
Cap Rate 9%
$107,167
$107.2K
Market Conditions
NOI Build-Up for 1,248 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
$15.0K $12.00/SF
− Vacancy
−$1.2K −$0.96/SF
EGI
$13.8K $11.04/SF
− OpEx
−$4.1K −$3.31/SF
NOI
$9.6K $7.73/SF
Area
Charlotte County, FL
Vacancy
8.00%
Lease Rate
$12.00 /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%
$192,900
Cap Rate 7%
$137,786
Cap Rate 9%
$107,167
Alternative Uses
Best Use
Industrial
$137.8K
$120.6K – $160.8K
NOI $9,645 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.6K
$357.6K – $476.7K
NOI $28,604 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 33981, FL
13,574
Population
7,808
Households
1.7
Avg Household Size
59
Median Age
27%
College-Educated
93%
High-School Grad
45.4 sq mi
ZIP Area
299
Density / Sq Mi
$71,266
Median Household Income
$36,931
Median Earnings
$1,198
Median Rent
$355,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Parking lot & garage - Non-Residential Storage Condo
Where is this parking lot & garage located?
The property is located at 41 Chardon Rd Unit G8 Placida, FL.
What is the asking price?
The asking price for this property is $267,000.
