Industrial Warehouse with Office &
For Sale
$3,900,000
2221 Corporation Blvd, Naples, FL 34109
Move-in-ready industrial facility with warehouse clear height, showroom flexibility, and built-out second-floor office.
Property Size15,225 SF
Days on Market66
Property Features for 2221 Corporation Blvd
General Information
Standard status
Active
Size
15,225 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Clear Height
20 ft
Building Details
Building Size
15,225 SF
Stories
2
Listing Agency:
Matthews
(954) 505-2905
Listed By:
Michael Buonadonna · License #SL3531894 (FL)
(954) 505-2905
Source:
Matthews
Added: Jun 22
Changed: Aug 24
Last Checked: Aug 25 at 4:42AM
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 Matthews
Investment Insights
Based on property information with market context.
This move-in-ready industrial facility combines warehouse, showroom, and professional office space in a single, flexible layout. The warehouse area is designed for storage and operations with approximately 20-foot clear heights, while the property also supports customer-facing showroom use. A fully built-out second-floor office component provides dedicated space for administrative and corporate functions, allowing many tenants or owner-users to run day-to-day operations under one roof.
Located along Naples’ Pine Ridge Industrial Corridor, the site offers convenient regional access to major routes including Interstate 75, Pine Ridge Road, and Airport-Pulling Road, with proximity to Naples Airport. This positioning supports a range of industrial and service-oriented uses that benefit from straightforward connectivity across Collier County and Southwest Florida.
Ownership has completed recent capital improvements to enhance both appearance and functionality. Updates include fresh exterior paint, a fully resurfaced and newly striped parking lot, upgraded landscaping, and additional property enhancements aimed at reducing near-term capital needs. The property’s configuration and office/showroom mix make it a practical fit for distribution, service operations, showroom use, or corporate users seeking an integrated industrial workplace.
Located along Naples’ Pine Ridge Industrial Corridor, the site offers convenient regional access to major routes including Interstate 75, Pine Ridge Road, and Airport-Pulling Road, with proximity to Naples Airport. This positioning supports a range of industrial and service-oriented uses that benefit from straightforward connectivity across Collier County and Southwest Florida.
Ownership has completed recent capital improvements to enhance both appearance and functionality. Updates include fresh exterior paint, a fully resurfaced and newly striped parking lot, upgraded landscaping, and additional property enhancements aimed at reducing near-term capital needs. The property’s configuration and office/showroom mix make it a practical fit for distribution, service operations, showroom use, or corporate users seeking an integrated industrial workplace.
Key Highlights
- 1984‑built industrial facility with warehouse, showroom flexibility, and a fully built‑out second‑floor office component
- Warehouse space offers approximately 20‑foot clear heights for storage and operational capacity
- Move‑in‑ready option with immediate occupancy flexibility for investors or owner‑users via for sale or for lease
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
$132,286
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
3.39%
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%
$2,645,720
$2.6M
Cap Rate 7%
$1,889,800
$1.9M
Cap Rate 9%
$1,469,844
$1.5M
Market Conditions
NOI Build-Up for 15,225 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
$160.8K $10.56/SF
− Vacancy
−$5.1K −$0.34/SF
EGI
$155.6K $10.22/SF
− OpEx
−$23.3K −$1.53/SF
NOI
$132.3K $8.69/SF
Area
Collier County, FL
Vacancy
3.20%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
15.00%
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%
$2,645,720
Cap Rate 7%
$1,889,800
Cap Rate 9%
$1,469,844
Alternative Uses
Best Use
Warehouse
$1.89M
$1.65M – $2.20M
NOI $132,286 @ 7.0% cap · market cap 3.39%
Second Best
Flex RnD
$1.77M
$1.55M – $2.06M
NOI $123,766 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$6.11M
$5.35M – $7.13M
NOI $427,734 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,600
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready industrial facility with warehouse clear height, showroom flexibility, and built-out second-floor office.
Where is this flex space located?
The property is located at 2221 Corporation Blvd Naples, FL.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 1984‑built industrial facility with warehouse, showroom flexibility, and a fully built‑out second‑floor office component; Warehouse space offers approximately 20‑foot clear heights for storage and operational capacity; Move‑in‑ready option with immediate occupancy flexibility for investors or owner‑users via for sale or for lease
