Cap rates vary by area, asset class, and deal size.So you need to be specific (office,retail,industrial,hotel,self storage,etc.)

If I were in your shoes, I'd simply explain to the downstairs tenants that when the noise is going on, they should call the police and not you.

I too was in your shoes.  

I have enough furniture in storage to furnish this house, so we will rent individual rooms until spring, then we will get the entire house re-rented for May.You can always pick-up individuals during the school year ... those who land at university as a foreign student or late admission are around for another 2-3 weeks.  

For example, he pays August rent and rents a storage unit.

Some rent for storage. 

I surmise his flooring are getting grinding with grit from shoes and traffic...With asphalt and good matting I have some laminates holding up 5-7 years plus.

75 - 300 / sq' , i couldn't tell you, are you building a storage shed or a house with quartz or granite counter tops, marble floors in foyer / baths and decorative tiles in the baths, stained hardwood trim, custom kitchen and decorative trim throughout the house ?

Storage units? 

Put yourself in the owner's shoes and you'd understand why.