Flex Space With Office and
For Sale
$575,000
3573 Enterprise Avenue, Naples, FL 34104
CommercialSale, Naples, FL
Property Size1,700 SF
Price / SF$338.24
Days on Market92
Property Features for 3573 Enterprise Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
From I-75, take Exit 105 for Golden Gate Parkway and head west toward Naples. Continue west on Golden Gate Parkway, then turn left/south onto Airport-Pulling Road. Continue south and turn left/east onto Enterprise Avenue.
Subdivision
NA17 - N/O Davis Blvd
Standard status
Active
APN
76720002341
Taxes and HOA fees
Tax Year
2025
Tax Description
3573 ENTERPRISE A CONDOMINIUM UNITS 67 AND 68
Tax Annual Amount
3639
Legal Description
3573 ENTERPRISE A CONDOMINIUM UNITS 67 AND 68
Building Details
Year built
1989
Floors in Building
1
Listing Agency:
Pelican's Nest Realty Services
(239) 541-0010
Listed By:
Shanan Spearing · License #258035883
(239) 400-5555
Added: May 29
Changed: Aug 26
Last Checked: Aug 28 at 8:06AM
MLS# 2026023538
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,700-square-foot commercial condominium combines two units, identified as 67 and 68, in a practical office-and-warehouse configuration. The office component includes air conditioning, a commercial entrance, reception area, open showroom or work area, two private offices, a kitchenette, and a large half bath. The adjoining warehouse provides additional operational space, tall ceilings, and a 12-foot overhead door for moving equipment, inventory, or vehicles.
The property is positioned in central Naples, north of Radio Road and near Naples Airport, with access to major corridors, business districts, residential areas, and the airport vicinity. The layout supports a range of approved commercial uses requiring a combination of customer-facing space and warehouse functionality. The condominium was built in 1989, and quarterly association fees apply.
The property is positioned in central Naples, north of Radio Road and near Naples Airport, with access to major corridors, business districts, residential areas, and the airport vicinity. The layout supports a range of approved commercial uses requiring a combination of customer-facing space and warehouse functionality. The condominium was built in 1989, and quarterly association fees apply.
Key Highlights
- 1,700 SF commercial condominium comprising units 67 and 68
- Air‑conditioned office area with reception space, two private offices, kitchenette, and large half bath
- Warehouse component features tall ceilings and a 12‑foot overhead door
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
$34,999
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
6.09%
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%
$699,980
$700.0K
Cap Rate 7%
$499,986
$500.0K
Cap Rate 9%
$388,878
$388.9K
Market Conditions
NOI Build-Up for 1,700 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
$51.0K $30.00/SF
− Vacancy
−$4.3K −$2.55/SF
EGI
$46.7K $27.45/SF
− OpEx
−$11.7K −$6.86/SF
NOI
$35.0K $20.59/SF
Area
Collier County, FL
Vacancy
8.50%
Lease Rate
$30.00 /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%
$699,980
Cap Rate 7%
$499,986
Cap Rate 9%
$388,878
Alternative Uses
Best Use
Office B
$500.0K
$437.5K – $583.3K
NOI $34,999 @ 7.0% cap · market cap 6.09%
Second Best
Warehouse
$211.0K
$184.6K – $246.2K
NOI $14,771 @ 7.0% cap · market cap 2.57%
Theoretical Best
Office A
$682.3K
$597.0K – $796.0K
NOI $47,760 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
2
Office units
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34104, FL
25,485
Population
16,062
Households
1.6
Avg Household Size
53
Median Age
33%
College-Educated
91%
High-School Grad
9.9 sq mi
ZIP Area
2,574
Density / Sq Mi
$70,301
Median Household Income
$40,680
Median Earnings
$1,742
Median Rent
$348,600
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?
Flex space - Two connected condo units combine air-conditioned office and showroom areas with warehouse space and a tall overhead loading door.
Where is this flex space located?
The property is located at 3573 Enterprise Avenue Naples, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 1,700 SF commercial condominium comprising units 67 and 68; Air‑conditioned office area with reception space, two private offices, kitchenette, and large half bath; Warehouse component features tall ceilings and a 12‑foot overhead door
