Naples Warehouse/Office Building For
For Sale
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3885 Mercantile Ave, Naples, FL 34104
26,016 square foot warehouse/office building in Naples Production Park.
Property Size26,016 SF
Price / SF$278.67
Days on Market172
Property Features for 3885 Mercantile Ave
General Information
Standard status
Active
Size
26,016 SF
Property subtype
Industrial, Office
Zoning
Industrial
Building Details
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
Investment Properties Corporation of Naples
(239) 261-3400
Listed By:
Clint Sherwood · License #FL 3033224
Source:
Crexi
Added: Mar 5
Changed: Aug 11
Last Checked: Aug 23 at 2:19PM
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 Investment Properties Corporation of Naples
Investment Insights
Based on property information with market context.
This 26,016 square foot warehouse/office building is located in the Naples Production Park, east of Airport-Pulling Road and south of Golden Gate Parkway. The building is suitable for an owner-occupant or investor. A short-term lease is currently in place, as the previous tenant has vacated the building.
Key Highlights
- Large 26,016 +/- square feet warehouse/office building.
- Convenient location in Naples Production Park.
- Ideal for owner‑occupant or investor.
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
$535,604
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
7.39%
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%
$10,712,080
$10.7M
Cap Rate 7%
$7,651,486
$7.7M
Cap Rate 9%
$5,951,156
$6.0M
Market Conditions
NOI Build-Up for 26,016 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
$780.5K $30.00/SF
− Vacancy
−$66.3K −$2.55/SF
EGI
$714.1K $27.45/SF
− OpEx
−$178.5K −$6.86/SF
NOI
$535.6K $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%
$10,712,080
Cap Rate 7%
$7,651,486
Cap Rate 9%
$5,951,156
Alternative Uses
Best Use
Office B
$7.65M
$6.70M – $8.93M
NOI $535,604 @ 7.0% cap · market cap 7.39%
Second Best
Mixed Use
$5.90M
$5.16M – $6.88M
NOI $412,679 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$10.44M
$9.14M – $12.18M
NOI $730,899 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
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?
Mixed-use property - 26,016 square foot warehouse/office building in Naples Production Park.
Where is this mixed-use property located?
The property is located at 3885 Mercantile Ave Naples, FL.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Large 26,016 +/- square feet warehouse/office building.; Convenient location in Naples Production Park.; Ideal for owner‑occupant or investor.
