Built-Out Medical Office
For Sale
Contact for pricing
1890 SW Health Pkwy. #301-3A, Naples, FL 34109
Fully built-out medical office space with covered parking and a layout suited to patient-facing professional operations.
Property Size4,061 SF
Price / SF$640.24
Days on Market122
Property Features for 1890 SW Health Pkwy. #301-3A
General Information
Standard status
Active
Size
4,061 SF
Total Parking Spaces
16
Property subtype
Office
Zoning
Planned Unit Development (PUD)
Investment Type
Owner/User
Listing Agency:
LSI Companies
Listed By:
Eric Edwards, CCIM · License #FL BK3152338
Source:
Crexi
Added: May 5
Changed: Sep 2
Last Checked: Sep 3 at 4:06AM
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 LSI Companies
Investment Insights
Based on property information with market context.
This 4,061± square-foot medical office suite is fully built out for immediate use, with an efficient configuration designed for patient-facing practice operations. The property includes 16 dedicated covered parking spaces for patients and staff and is located within Gulf Coast Medical Arts Center. Zoning is Planned Unit Development (PUD).
The North Naples location is approximately 1± miles from NCH Hospital (Immokalee), 2± miles from US-41, and 3± miles from I-75. Physicians Regional Pine Ridge is 8± miles away, while Downtown Naples is 10± miles from the property. The surrounding area includes healthcare providers and residential communities, supporting convenient access for medical office users.
The North Naples location is approximately 1± miles from NCH Hospital (Immokalee), 2± miles from US-41, and 3± miles from I-75. Physicians Regional Pine Ridge is 8± miles away, while Downtown Naples is 10± miles from the property. The surrounding area includes healthcare providers and residential communities, supporting convenient access for medical office users.
Key Highlights
- 4,061± square‑foot fully built‑out medical office suite
- 16 dedicated covered parking spaces
- Located within Gulf Coast Medical Arts Center
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
$83,606
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
3.22%
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%
$1,672,120
$1.7M
Cap Rate 7%
$1,194,371
$1.2M
Cap Rate 9%
$928,956
$929.0K
Market Conditions
NOI Build-Up for 4,061 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
$121.8K $30.00/SF
− Vacancy
−$10.4K −$2.55/SF
EGI
$111.5K $27.45/SF
− OpEx
−$27.9K −$6.86/SF
NOI
$83.6K $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%
$1,672,120
Cap Rate 7%
$1,194,371
Cap Rate 9%
$928,956
Alternative Uses
Best Use
Office B
$1.19M
$1.05M – $1.39M
NOI $83,606 @ 7.0% cap · market cap 3.22%
Second Best
Healthcare Medical
$777.6K
$680.4K – $907.2K
NOI $54,432 @ 7.0% cap · market cap 2.09%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,091 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34109, FL
26,102
Population
16,027
Households
1.6
Avg Household Size
55
Median Age
50%
College-Educated
97%
High-School Grad
12.5 sq mi
ZIP Area
2,088
Density / Sq Mi
$91,073
Median Household Income
$57,422
Median Earnings
$1,873
Median Rent
$628,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Collier Animal Referral + Emergency — 1713 SW Health Pkwy # 1, Naples, FL 34109
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully built-out medical office space with covered parking and a layout suited to patient-facing professional operations.
Where is this medical office space located?
The property is located at 1890 SW Health Pkwy. #301-3A Naples, FL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 4,061± square‑foot fully built‑out medical office suite; 16 dedicated covered parking spaces; Located within Gulf Coast Medical Arts Center
