Vacant Industrial
For Sale
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24349 Production Circle, Bonita Springs, FL 34135
Existing vacant structure with IL zoning offers an industrial commercial property in Bonita Springs.
Property Size14,000 SF
Price / SF$150
Days on Market11
Property Features for 24349 Production Circle
General Information
Standard status
Active
Size
14,000 SF
Property subtype
Industrial
Zoning
IL
Investment Type
Value Add
Building Details
Year Built
1981
Year Renovated
2004
Buildings
1
Listing Agency:
Matthews
Listed By:
Michael Buonadonna · License #SL3531894
Source:
Crexi
Added: Aug 20
Changed: Aug 29
Last Checked: Aug 29 at 11:36PM
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 vacant industrial property comprises a 14,000-square-foot building constructed in 1981. The asset is classified within the industrial property category and carries IL zoning, providing a defined industrial land-use designation for evaluation by prospective purchasers.
The building is located at 24349 Production Circle in Bonita Springs, Florida 34135. Its established construction date and existing industrial format distinguish the property from undeveloped land and provide a physical base for future planning, subject to applicable zoning and regulatory requirements.
The building is located at 24349 Production Circle in Bonita Springs, Florida 34135. Its established construction date and existing industrial format distinguish the property from undeveloped land and provide a physical base for future planning, subject to applicable zoning and regulatory requirements.
Key Highlights
- 14,000‑square‑foot industrial building
- IL zoning designation
- Constructed in 1981
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
$127,802
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%
$2,556,040
$2.6M
Cap Rate 7%
$1,825,743
$1.8M
Cap Rate 9%
$1,420,022
$1.4M
Market Conditions
NOI Build-Up for 14,000 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
$193.2K $13.80/SF
− Vacancy
−$10.6K −$0.76/SF
EGI
$182.6K $13.04/SF
− OpEx
−$54.8K −$3.91/SF
NOI
$127.8K $9.13/SF
Area
Lee County, FL
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$2,556,040
Cap Rate 7%
$1,825,743
Cap Rate 9%
$1,420,022
Alternative Uses
Best Use
Industrial
$1.83M
$1.60M – $2.13M
NOI $127,802 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.41M
$3.86M – $5.14M
NOI $308,448 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 34135, FL
45,518
Population
30,904
Households
1.5
Avg Household Size
60
Median Age
39%
College-Educated
88%
High-School Grad
61.8 sq mi
ZIP Area
737
Density / Sq Mi
$86,731
Median Household Income
$37,952
Median Earnings
$1,790
Median Rent
$419,200
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?
Industrial property - Existing vacant structure with IL zoning offers an industrial commercial property in Bonita Springs.
Where is this industrial property located?
The property is located at 24349 Production Circle Bonita Springs, FL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 14,000‑square‑foot industrial building; IL zoning designation; Constructed in 1981
