First-Floor Office
For Sale
$1,575,000
3021 Airport Road N Unit 103, Naples, FL 34105
C3-zoned office condo with medical-office infrastructure, flexible rooms, and convenient access to major Naples destinations.
Property Size4,257 SF
Price / SF$369.98
Days on Market366
Property Features for 3021 Airport Road N Unit 103
General Information
Standard status
Active
Size
4,257 SF
Property subtype
Commercial
Zoning
C3
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Floor
1
Asking Price
$1,695,000
Office Units
1
Building Details
Year Built
2007
Listing Agency:
Downing Frye Realty Inc.
Listed By:
Richard Parlante,PA
(239) 471-4740
Source:
Cthomeseekers
Added: Aug 6, 2025
Changed: Aug 4
Last Checked: Aug 6 at 3:58AM
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 Downing Frye Realty Inc.
Investment Insights
Based on property information with market context.
This first-floor office condo in the Centennial Bank Building provides approximately 4,257 square feet arranged across 16 rooms. The interior includes a reception area with separate check-in and check-out windows, waiting area, conference room, private offices, kitchen, two storage or utility rooms, two restrooms, one unisex restroom, an electronics room, and a built-in wall safe. Bamboo flooring, carpeted areas, LED lighting, crown molding, plantation shutters, cabinetry, and an open layout contribute to a finished professional setting. Three A/C units are approximately 5 years old, and the roof is approximately 2 years old.
The property is positioned at 3021 Airport Road N, Unit 103, across from Grey Oaks and next to Poinciana Elementary School. It offers access to I-75, downtown Naples, North Naples, East Naples, and Naples South. C3 zoning supports a range of office applications, while available parking serves clients and staff. The former medical-office configuration can also accommodate general office or flex-oriented operations.
The property is positioned at 3021 Airport Road N, Unit 103, across from Grey Oaks and next to Poinciana Elementary School. It offers access to I-75, downtown Naples, North Naples, East Naples, and Naples South. C3 zoning supports a range of office applications, while available parking serves clients and staff. The former medical-office configuration can also accommodate general office or flex-oriented operations.
Key Highlights
- Approximately 4,257 SF first‑floor office condo
- 16‑room layout with reception, waiting area, conference room, offices, kitchen, and storage
- C3 zoning supports a range of office applications
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
$87,641
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
5.56%
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%
$1,752,820
$1.8M
Cap Rate 7%
$1,252,014
$1.3M
Cap Rate 9%
$973,789
$973.8K
Market Conditions
NOI Build-Up for 4,257 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
$127.7K $30.00/SF
− Vacancy
−$10.9K −$2.55/SF
EGI
$116.9K $27.45/SF
− OpEx
−$29.2K −$6.86/SF
NOI
$87.6K $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%
$1,752,820
Cap Rate 7%
$1,252,014
Cap Rate 9%
$973,789
Alternative Uses
Best Use
Office B
$1.25M
$1.10M – $1.46M
NOI $87,641 @ 7.0% cap · market cap 5.56%
Second Best
Healthcare Medical
$815.1K
$713.2K – $951.0K
NOI $57,059 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,597 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
186
Businesses Nearby
Explore this area
Business Placement
Demographics for 34105, FL
16,491
Population
11,654
Households
1.4
Avg Household Size
59
Median Age
52%
College-Educated
95%
High-School Grad
9.5 sq mi
ZIP Area
1,736
Density / Sq Mi
$94,702
Median Household Income
$48,743
Median Earnings
$2,041
Median Rent
$515,600
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?
Office units - C3-zoned office condo with medical-office infrastructure, flexible rooms, and convenient access to major Naples destinations.
Where is this office units located?
The property is located at 3021 Airport Road N Unit 103 Naples, FL.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Approximately 4,257 SF first‑floor office condo; 16‑room layout with reception, waiting area, conference room, offices, kitchen, and storage; C3 zoning supports a range of office applications
