New Mixed-Use Building in
For Sale
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180 9th St S, Naples, FL 34102
Commercial condo units for sale in a mixed-use building.
Property Size11,840 SF
Lot Size0.75 Acres
Price / SF$306.84
Days on Market929
Property Features for 180 9th St S
General Information
Standard status
Active
Size
11,840 SF
Class
A
Lot size
0.75 Acres
Property subtype
Mixed Use, Office, Retail
Building Details
Year Built
2024
Buildings
1
Stories
3
Units
4
Listing Agency:
Lee & Associates - Naples
(239) 209-0458
Listed By:
Jeff Buckler · License #MI
Source:
Crexi
Added: Feb 9, 2024
Changed: Aug 19
Last Checked: Aug 24 at 12:24PM
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 Lee & Associates - Naples
Investment Insights
Based on property information with market context.
Commercial condo units are available for sale within an 18,051 square foot, three-story mixed-use building constructed in 2024. The building is situated on approximately 0.75 acres and features commercial and office suites, including a fitness center on the first floor. The upper levels house six high-end residential condos. Currently, 3,633 square feet of commercial and office space is available for purchase. Located in Naples, FL, the property offers long-term flexibility for multiple uses and features a luxurious design in a prime location in Olde Naples.
Key Highlights
- Prime location in Olde Naples.
- Newly built in 2024.
- 3,633 square feet of commercial/office space available.
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
$187,812
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
5.17%
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%
$3,756,240
$3.8M
Cap Rate 7%
$2,683,029
$2.7M
Cap Rate 9%
$2,086,800
$2.1M
Market Conditions
NOI Build-Up for 11,840 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
$319.7K $27.00/SF
− Vacancy
−$19.2K −$1.62/SF
EGI
$300.5K $25.38/SF
− OpEx
−$112.7K −$9.52/SF
NOI
$187.8K $15.86/SF
Area
Collier County, FL
Vacancy
6.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,756,240
Cap Rate 7%
$2,683,029
Cap Rate 9%
$2,086,800
Alternative Uses
Best Use
Mixed Use
$2.68M
$2.35M – $3.13M
NOI $187,812 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.75M
$4.16M – $5.54M
NOI $332,635 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,167
Businesses Nearby
Explore this area
Business Placement
Demographics for 34102, FL
10,496
Population
9,791
Households
1.1
Avg Household Size
64
Median Age
58%
College-Educated
96%
High-School Grad
5.6 sq mi
ZIP Area
1,874
Density / Sq Mi
$115,927
Median Household Income
$57,254
Median Earnings
$1,491
Median Rent
$1,422,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial condo units for sale in a mixed-use building.
Where is this mixed-use property located?
The property is located at 180 9th St S Naples, FL.
What is the asking price?
The asking price for this property is $3,633,000.
What are key features of this property?
This property features: Prime location in Olde Naples.; Newly built in 2024.; 3,633 square feet of commercial/office space available.
