Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Waterfront Homesite in Englewood East Title is generated by Realmo AI

    6049 PENNELL STREET, Englewood, FL 34224

    View on Map
    Claim this Listing
    For Sale
    $39,900

    Tropical waterfront lot with quick access to beaches and highway.

    Type:Land or Vacant Lot
    Added:
    May 11, 2026
    Days on Market:
    24
    Last Refresh:
    May 13 at 9:29 pm

    Property Features for 6049 PENNELL STREET

    General Information

    Standard status
    Active
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    MATTHEW OVERMYER

    Listing agent MATTHEW OVERMYER License #3538813

    Listing office ERA ADVANTAGE REALTY, INC.

    Listing date May 11, 2026

    Source Corcoran

    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 ERA ADVANTAGE REALTY, INC.

    HighLights

    • Waterfront property on Oyster Creek with direct access to Lemon Bay.
    • Quick access to Englewood Beach and Highway (I‑75).
    • Western exposure with sunset views.
    • No deed restrictions.
    • Public water and power available.
    • Not in a scrub jay zone.

    Overview

    This tropical waterfront homesite is located in the northwest section of Englewood East, offering quick access to both Englewood Beach and the highway via Winchester Blvd. The lot is situated on Oyster Creek, which flows into Lemon Bay, providing a natural Florida setting. The location is home to fish, turtles, herons, and other tropical wildlife. The property is not in a scrub jay zone and has access to public water and power. There are no deed restrictions and no immediate neighbors. The lot features a western exposure for sunsets and is conveniently located near beaches, public boat ramps, restaurants, shopping, medical facilities, and the highway. This location is suitable for building a Florida homestead.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Englewood
    County
    Charlotte
    State
    Florida
    Longitude
    -82.29662
    Latitude
    26.944134

    Nearby Similar for Sale

    • $975,000
      4,851 SF

      Englewood Income-Producing Commercial Opportunity

      Well-maintained commercial property with three office units and ample parking.
      501 S INDIANA AVENUE, ENGLEWOOD, FL 34223
      View Details
    • $1,200,000
      5,640 SF

      Englewood Retail Strip Plaza

      Fully leased retail plaza on major highway in Englewood, Florida.
      119 S INDIANA AVENUE, ENGLEWOOD, FL 34223
      View Details
    • $1,250,000
      3,750 SF

      ENGLEWOOD Warehouse, Storage, and Office

      Remodeled warehouse, storage, and office property on 1.1 acres.
      180 ARTISTS AVENUE, ENGLEWOOD, FL 34223
      View Details
    • $1,100,000
      9,164 SF

      Medical Office Investment Opportunity

      1.5-acre commercial property with 9,100 SF building in Englewood.
      2061 ENGLEWOOD ROAD, ENGLEWOOD, FL 34223
      View Details
    • $3,400,000
      800 SF

      Marine Engine and Service Business

      Turnkey marine engine and service business for sale in Englewood.
      2640 AVENUE OF THE AMERICAS, ENGLEWOOD, FL 34224
      View Details
    • $995,000
      3,671 SF

      Modern Industrial Flex Building

      Renovated flex building with expansion potential in high-growth corridor.
      4275 S ACCESS ROAD, ENGLEWOOD, FL 34224
      View Details
    • $1,950,000
      3,340 SF

      Turnkey Warehouse/Office Setup

      Commercial site with warehouse, office, and frontage on Placida Road.
      3060 PLACIDA ROAD, ENGLEWOOD, FL 34224
      View Details
    • $350,000
      560 SF

      Englewood Commercial Intensive Property

      Commercial Intensive property in the heart of Old Englewood Village.
      54 HARVARD STREET, ENGLEWOOD, FL 34223
      View Details
    • $3,800,000
      5,338 SF

      Englewood Hotel/Venue Opportunity Near Beach

      Boutique hotel or family compound near Manasota Beach.
      1991 HEASLEY ROAD, ENGLEWOOD, FL 34223
      View Details
    • $325,000
      872 SF

      Updated Commercial Building Near Beaches

      Freestanding, updated commercial building ideal for office or retail.
      150 E BAY HEIGHTS ROAD, ENGLEWOOD, FL 34223
      View Details
    • $999,999
      1,774 SF

      Turnkey Restaurant Opportunity

      Commercial property with established seafood restaurant for sale in Englewood.
      2901 PLACIDA ROAD, ENGLEWOOD, FL 34224
      View Details
    • $999,999
      1,774 SF

      Turnkey Restaurant Opportunity

      Commercial property with established seafood restaurant for sale.
      2901 PLACIDA ROAD, ENGLEWOOD, FL 34224
      View Details

    FAQs

    What type of property is this?
    Waterfront Land - Tropical waterfront lot with quick access to beaches and highway.
    Where is this waterfront land located?
    The property is located at 6049 PENNELL STREET Englewood, FL.
    What is the asking price?
    The asking price for this property is $39,900.
    What are key features of this property?
    This property features: Waterfront property on Oyster Creek with direct access to Lemon Bay.; Quick access to Englewood Beach and Highway (I‑75).; Western exposure with sunset views.
    (941) 255-5300
    We can help!
    Listing Contact
    MATTHEW OVERMYER
    Real Estate License ID: 3538813
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    6049 PENNELL STREET, ENGLEWOOD, FL 34224
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!