Pricing/modifying a magic item?

[Tyrael]

Ahoy, folks. I'm putting together a pirate-y dude, when I realized that he's carrying too much stuff. Our DM hates Bags of Holding and HHH's because he feels they strain realism ("I put our VoP monk in the Bag! He doesn't need to breathe!").

Flipping through the MIC, I came upon the Belt of the Wide Earth, which doubles your carrying capacity and lets you cast teleport 2/day by sacrificing prepared spell slots.

As a partial homebrew (maybe I should post this there?), how would I go about removing the Teleport function (since my char's not an overtly magical pirate)? In other words, if one were to have an item that doubles carrying capacity, how much would this cost? Not THAT much, I'd imagine, since a Bag of Holding 1 can carry far, far more than that and only costs 2,500.

[CASTLEMIKE]

The prereq to make the belt is Craft Wonderous Item, Teleport and CL9.

Since the carrying capacity enhancement seems to be a side effect of the teleport magic (based on the prereqs) granting the PC the passive continuous double carrying capacity I would prorate the teleport function down to 1/day would reduce the cost by 50% down to a market price of 4,000 GP and swappable at your PC's convenience.

Generally the lowest cost usage a magic item can be prorated down to is 1 use every 10 days in FRCS (Items can be used less often but 1 usage every 10 day is still the minimum cost. See the Gate/Portal Creation rules.)

If you prorate down to 1/10 days then market price drops to 400 GP.

This might be acceptable to your DM if it takes a day to attune a magic item like a prorated magic belt so no swapping out numerous limited use magic belt slots several times daily basically the PC is giving up the right to use the Healing Belt which costs 750 GP to carry more stuff.

[Nebo_]

There's an item in the WotC module 'A Dark and Stormy Night' that increases your strength score for the purposes of carrying capacity. The module is available for download on the WotC website, IIRC.