Small Bay Industrial
For Sale
$649,000
Pending
3425 Radio Rd 215, Naples, FL 34104
1,550 sq ft flex space with office and warehouse.
Property Size1,550 SF
Days on Market154
Property Features for 3425 Radio Rd 215
General Information
Standard status
Pending
Size
1,550 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$3,248
Building Details
Year Built
2007
Stories
1
Listing Agency:
(239) 293-4285
Listed By:
Patricia McClimans, LLC
(239) 293-4285
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:31AM
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 Patricia McClimans, LLC
Investment Insights
Based on property information with market context.
This 1,550 sq ft flex space is located just east of Airport Rd in the Clock Tower Business Park. The property features a concrete block, small bay industrial complex with convenient access to various parts of Southwest Florida. The layout includes 300 sq ft of open office or showroom space, complete with a private bathroom. The warehouse area provides 1,250 sq ft of space with a 16-foot ceiling height and a 14-foot overhead door. Parking is available directly at the front door.
Key Highlights
- Convenient location to all parts of SW FL.
- 1,250 sq ft of high 16‑foot ceiling warehouse space.
- 300 sq ft open office/showroom with private bathroom.
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
$31,911
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
4.92%
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%
$638,220
$638.2K
Cap Rate 7%
$455,871
$455.9K
Cap Rate 9%
$354,567
$354.6K
Market Conditions
NOI Build-Up for 1,550 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
$46.5K $30.00/SF
− Vacancy
−$4.0K −$2.55/SF
EGI
$42.5K $27.45/SF
− OpEx
−$10.6K −$6.86/SF
NOI
$31.9K $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%
$638,220
Cap Rate 7%
$455,871
Cap Rate 9%
$354,567
Alternative Uses
Best Use
Office B
$455.9K
$398.9K – $531.9K
NOI $31,911 @ 7.0% cap · market cap 4.92%
Second Best
Warehouse
$192.4K
$168.4K – $224.5K
NOI $13,468 @ 7.0% cap · market cap 2.08%
Theoretical Best
Office A
$622.1K
$544.3K – $725.8K
NOI $43,546 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,738
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 34104, FL
25,485
Population
16,062
Households
1.6
Avg Household Size
53
Median Age
33%
College-Educated
91%
High-School Grad
9.9 sq mi
ZIP Area
2,574
Density / Sq Mi
$70,301
Median Household Income
$40,680
Median Earnings
$1,742
Median Rent
$348,600
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?
Flex space - 1,550 sq ft flex space with office and warehouse.
Where is this flex space located?
The property is located at 3425 Radio Rd 215 Naples, FL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Convenient location to all parts of SW FL.; 1,250 sq ft of **high 16‑foot ceiling warehouse space.**; 300 sq ft open office/showroom with private bathroom.
